National Bank of Canada FI Has $9.95 Million Position in Textron Inc. (NYSE:TXT)

National Bank of Canada FI reduced its holdings in Textron Inc. (NYSE:TXT - Free Report) by 34.0% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 137,694 shares of the aerospace company's stock after selling 71,047 shares during the quarter. National Bank of Canada FI owned approximately 0.08% of Textron worth $9,948,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Balyasny Asset Management L.P. lifted its position in 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 purchasing an additional 1,218,485 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Textron in the 4th quarter valued at about $41,451,000. D. E. Shaw & Co. Inc. lifted its position in Textron by 97.9% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,031,144 shares of the aerospace company's stock valued at $78,872,000 after purchasing an additional 510,085 shares during the last quarter. Marshall Wace LLP bought a new stake in Textron in the 4th quarter valued at about $22,370,000. Finally, Adage Capital Partners GP L.L.C. lifted its position in Textron by 88.9% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 550,976 shares of the aerospace company's stock valued at $42,144,000 after purchasing an additional 259,350 shares during the last quarter. 86.03% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. UBS Group raised shares of Textron from a "sell" rating to a "neutral" rating and raised their target price for the company from $73.00 to $88.00 in a research note on Monday, July 28th. Susquehanna raised their target price on shares of Textron from $90.00 to $95.00 and gave the company a "positive" rating in a research note on Friday, July 25th. Wall Street Zen cut shares of Textron from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 26th. Morgan Stanley raised their target price on shares of Textron from $71.00 to $86.00 and gave the company an "equal weight" rating in a research note on Thursday, July 17th. Finally, Jefferies Financial Group reissued a "buy" rating and set a $95.00 target price (up previously from $85.00) on shares of Textron in a research note on Thursday, June 12th. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Textron has an average rating of "Moderate Buy" and a consensus price target of $92.67.

Textron Price Performance

Shares of TXT traded down $1.37 during mid-day trading on Friday, hitting $78.95. The company's stock had a trading volume of 1,352,878 shares, compared to its average volume of 1,879,055. The firm has a 50-day moving average price of $80.18 and a 200 day moving average price of $74.74. The stock has a market capitalization of $14.07 billion, a price-to-earnings ratio of 17.86, a PEG ratio of 1.31 and a beta of 1.16. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.84 and a quick ratio of 0.84. Textron Inc. has a fifty-two week low of $57.70 and a fifty-two week high of $91.48.

Textron (NYSE:TXT - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The aerospace company reported $1.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.45 by $0.10. The company had revenue of $3.72 billion for the quarter, compared to analysts' expectations of $3.64 billion. Textron had a net margin of 5.80% and a return on equity of 14.26%. The business's revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.54 EPS. On average, research analysts predict that Textron Inc. will post 6.12 EPS for the current fiscal year.

Textron Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, September 12th will be given a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.1%. The ex-dividend date of this dividend is Friday, September 12th. Textron's dividend payout ratio (DPR) is 1.81%.

Insider Buying and Selling at Textron

In other news, EVP Julie G. Duffy sold 28,543 shares of Textron stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $79.37, for a total value of $2,265,457.91. Following the transaction, the executive vice president directly owned 37,624 shares of the company's stock, valued at $2,986,216.88. This trade represents a 43.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.70% of the stock is currently owned by company insiders.

About Textron

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.