Rafferty Asset Management LLC Acquires 3,296 Shares of Textron Inc. (NYSE:TXT)

Rafferty Asset Management LLC raised its holdings in shares of Textron Inc. (NYSE:TXT - Free Report) by 5.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 64,815 shares of the aerospace company's stock after purchasing an additional 3,296 shares during the quarter. Rafferty Asset Management LLC's holdings in Textron were worth $4,958,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. SBI Securities Co. Ltd. purchased a new stake in shares of Textron during the 4th quarter valued at about $31,000. Optiver Holding B.V. purchased a new stake in Textron during the fourth quarter valued at approximately $56,000. Golden State Wealth Management LLC purchased a new stake in Textron during the fourth quarter valued at approximately $63,000. McClarren Financial Advisors Inc. bought a new stake in shares of Textron in the 4th quarter valued at approximately $68,000. Finally, Geneos Wealth Management Inc. boosted its holdings in shares of Textron by 33.0% in 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 during the period. 86.03% of the stock is owned by hedge funds and other institutional investors.

Textron Trading Down 1.0%

TXT traded down $0.75 on Friday, reaching $72.73. 159,715 shares of the company traded hands, compared to its average volume of 1,494,423. Textron Inc. has a one year low of $57.70 and a one year high of $94.57. The firm has a fifty day simple moving average of $70.12 and a two-hundred day simple moving average of $75.47. The company has a market cap of $13.13 billion, a P/E ratio of 16.88, a price-to-earnings-growth ratio of 1.18 and a beta of 1.20. The company has a quick ratio of 0.84, a current ratio of 1.76 and a debt-to-equity ratio of 0.45.

Textron (NYSE:TXT - Get Free Report) last issued its earnings results on Thursday, April 24th. The aerospace company reported $1.28 EPS for the quarter, topping analysts' consensus estimates of $1.17 by $0.11. The business 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% compared to the same quarter last year. During the same period last year, the company posted $1.20 earnings per share. As a group, equities research analysts expect that Textron Inc. will post 6.12 earnings per share for the current year.

Textron Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be given a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.11%. The ex-dividend date is Friday, June 13th. Textron's dividend payout ratio (DPR) is presently 1.81%.

Insiders Place Their Bets

In related news, VP Mark S. Bamford sold 5,451 shares of Textron stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $72.68, for a total value of $396,178.68. Following the completion of the sale, the vice president now directly owns 18,223 shares in the company, valued at $1,324,447.64. The trade was a 23.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 1.70% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. TD Cowen upgraded Textron to a "hold" rating in a research report on Monday, February 24th. Bank of America downgraded shares of Textron from a "buy" rating to a "neutral" rating and reduced their target price for the company from $110.00 to $85.00 in a research note on Friday, January 24th. Robert W. Baird lowered their target price on shares of Textron from $100.00 to $92.00 and set an "outperform" rating for the company in a report on Thursday, January 23rd. UBS Group upped their price target on shares of Textron from $62.00 to $63.00 and gave the company a "sell" rating in a report on Monday, April 28th. Finally, Citigroup reduced their price objective on shares of Textron from $111.00 to $107.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $87.70.

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.