Massachusetts Financial Services Co. MA Has $8.72 Million Stock Position in Textron Inc. (NYSE:TXT)

Massachusetts Financial Services Co. MA grew its holdings in Textron Inc. (NYSE:TXT - Free Report) by 34.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 120,672 shares of the aerospace company's stock after purchasing an additional 30,892 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 0.07% of Textron worth $8,719,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of TXT. Invesco Ltd. raised its position in shares of Textron by 17.8% in the 4th quarter. Invesco Ltd. now owns 7,733,335 shares of the aerospace company's stock valued at $591,523,000 after acquiring an additional 1,167,105 shares during the period. Geode Capital Management LLC raised its holdings in Textron by 3.7% in the fourth quarter. Geode Capital Management LLC now owns 4,595,861 shares of the aerospace company's stock worth $350,619,000 after purchasing an additional 164,964 shares during the period. Northern Trust Corp boosted its position in shares of Textron by 9.4% during the fourth quarter. Northern Trust Corp now owns 1,803,778 shares of the aerospace company's stock worth $137,971,000 after purchasing an additional 155,384 shares in the last quarter. Balyasny Asset Management L.P. grew its holdings in shares of Textron by 6,785.9% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,236,441 shares of the aerospace company's stock valued at $94,575,000 after buying an additional 1,218,485 shares during the period. Finally, Mariner LLC increased its position in shares of Textron by 4.3% in the 4th quarter. Mariner LLC now owns 1,137,684 shares of the aerospace company's stock valued at $87,022,000 after buying an additional 46,469 shares in the last quarter. Institutional investors and hedge funds own 86.03% of the company's stock.

Textron Trading Down 0.5%

Shares of TXT stock opened at $84.95 on Friday. Textron Inc. has a fifty-two week low of $57.70 and a fifty-two week high of $93.98. The stock's fifty day moving average price is $78.24 and its two-hundred day moving average price is $74.42. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.83 and a current ratio of 1.80. The company has a market cap of $15.34 billion, a PE ratio of 19.26, a P/E/G ratio of 1.38 and a beta of 1.17.

Textron (NYSE:TXT - Get Free Report) last posted its earnings results on Thursday, April 24th. The aerospace company reported $1.28 earnings per share for the quarter, topping analysts' consensus estimates of $1.17 by $0.11. Textron had a net margin of 5.98% and a return on equity of 14.77%. The firm had revenue of $3.31 billion for the quarter, compared to analysts' expectations of $3.26 billion. During the same quarter in the previous year, the firm posted $1.20 earnings per share. The company's revenue was up 5.5% on a year-over-year basis. Equities analysts predict that Textron Inc. will post 6.12 EPS for the current fiscal year.

Textron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th were issued a dividend of $0.02 per share. The ex-dividend date was Friday, June 13th. This represents a $0.08 dividend on an annualized basis and a yield of 0.09%. Textron's payout ratio is currently 1.81%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on TXT. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $85.00 target price (down from $95.00) on shares of Textron in a research note on Tuesday, July 1st. UBS Group raised their price objective on Textron from $62.00 to $63.00 and gave the company a "sell" rating in a report on Monday, April 28th. Morgan Stanley boosted their price target on Textron from $71.00 to $86.00 and gave the stock an "equal weight" rating in a research report on Thursday. Jefferies Financial Group reaffirmed a "buy" rating and issued a $95.00 target price (up from $85.00) on shares of Textron in a report on Thursday, June 12th. Finally, Wall Street Zen raised Textron from a "buy" rating to a "strong-buy" rating in a research report on Sunday, July 13th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $89.33.

Textron 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.

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