Mackenzie Financial Corp Buys 26,185 Shares of Textron Inc. (NYSE:TXT)

Mackenzie Financial Corp grew its holdings in Textron Inc. (NYSE:TXT - Free Report) by 14.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 210,081 shares of the aerospace company's stock after acquiring an additional 26,185 shares during the quarter. Mackenzie Financial Corp owned 0.12% of Textron worth $16,069,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. SBI Securities Co. Ltd. acquired a new stake in Textron during the 4th quarter worth approximately $31,000. Optiver Holding B.V. acquired a new stake in shares of Textron during the fourth quarter worth $56,000. Golden State Wealth Management LLC bought a new stake in Textron in the 4th quarter valued at $63,000. McClarren Financial Advisors Inc. acquired a new position in Textron in the 4th quarter worth $68,000. Finally, Geneos Wealth Management Inc. increased its holdings in Textron by 33.0% during the 4th quarter. Geneos Wealth Management Inc. now owns 964 shares of the aerospace company's stock worth $74,000 after purchasing an additional 239 shares in the last quarter. Institutional investors and hedge funds own 86.03% of the company's stock.

Textron Price Performance

Textron stock traded up $0.07 during trading hours on Friday, reaching $74.07. 1,570,626 shares of the stock were exchanged, compared to its average volume of 1,220,946. The stock has a 50 day moving average of $70.10 and a two-hundred day moving average of $74.84. Textron Inc. has a twelve month low of $57.70 and a twelve month high of $94.57. The company has a current ratio of 1.76, a quick ratio of 0.84 and a debt-to-equity ratio of 0.45. The company has a market cap of $13.37 billion, a P/E ratio of 17.19, a price-to-earnings-growth ratio of 1.18 and a beta of 1.20.

Textron (NYSE:TXT - Get Free Report) last issued its earnings results on Thursday, April 24th. The aerospace company reported $1.28 earnings per share for the quarter, beating analysts' consensus estimates of $1.17 by $0.11. The firm had revenue of $3.31 billion for the quarter, compared to analyst estimates of $3.26 billion. Textron had a net margin of 6.01% and a return on equity of 14.92%. The company's quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter last year, the business posted $1.20 earnings per share. Equities analysts expect that Textron Inc. will post 6.12 EPS for the current fiscal year.

Textron Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be issued a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.11%. The ex-dividend date is Friday, June 13th. Textron's payout ratio is presently 1.81%.

Wall Street Analyst Weigh In

TXT has been the topic of several recent research reports. Citigroup lowered their price target on shares of Textron from $111.00 to $107.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th. UBS Group boosted their target price on shares of Textron from $62.00 to $63.00 and gave the stock a "sell" rating in a report on Monday, April 28th. Morgan Stanley cut their target price on shares of Textron from $82.00 to $71.00 and set an "equal weight" rating for the company in a research note on Friday, April 11th. Finally, TD Cowen upgraded Textron to a "hold" rating in a research note on Monday, February 24th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $87.70.

Textron Company Profile

Textron Inc operates in the aircraft, defense, industrial, and finance businesses worldwide. It operates through six segments: Textron Aviation, Bell, Textron Systems, Industrial, Textron eAviation, and Finance. The Textron Aviation segment manufactures, sells, and services business jets, turboprop and piston engine aircraft, and military trainer and defense aircraft; and offers maintenance, inspection, and repair services, as well as sells commercial parts.