Textron Inc. (NYSE:TXT) Shares Purchased by State of Wyoming

State of Wyoming increased its position in shares of Textron Inc. (NYSE:TXT - Free Report) by 179.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,766 shares of the aerospace company's stock after acquiring an additional 4,991 shares during the quarter. State of Wyoming's holdings in Textron were worth $594,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of TXT. SBI Securities Co. Ltd. acquired a new position in shares of Textron during the 4th quarter valued at about $31,000. Optiver Holding B.V. purchased a new stake in Textron in the 4th quarter valued at about $56,000. Golden State Wealth Management LLC purchased a new stake in Textron in the 4th quarter valued at about $63,000. McClarren Financial Advisors Inc. purchased a new stake in Textron in the 4th quarter valued at about $68,000. Finally, Geneos Wealth Management Inc. raised its holdings in Textron by 33.0% in the 4th quarter. Geneos Wealth Management Inc. now owns 964 shares of the aerospace company's stock valued at $74,000 after buying an additional 239 shares during the period. Institutional investors and hedge funds own 86.03% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. TD Cowen upgraded shares of Textron to a "hold" rating in a report on Monday, February 24th. Morgan Stanley cut their price target on shares of Textron from $82.00 to $71.00 and set an "equal weight" rating on the stock in a research note on Friday, April 11th. Citigroup cut 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. Bank of America lowered shares of Textron from a "buy" rating to a "neutral" rating and cut their price target for the stock from $110.00 to $85.00 in a research note on Friday, January 24th. Finally, UBS Group boosted their price target on shares of Textron from $62.00 to $63.00 and gave the stock a "sell" rating in a research note on Monday, April 28th. One equities 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. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $87.70.

Insider Transactions at Textron

In other 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 transaction of $396,178.68. Following the sale, the vice president now owns 18,223 shares in the company, valued at approximately $1,324,447.64. The trade was a 23.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.70% of the company's stock.

Textron Stock Down 0.6%

Shares of TXT stock traded down $0.46 during trading hours on Friday, reaching $73.02. 804,249 shares of the stock were exchanged, compared to its average volume of 1,216,002. The business's fifty day moving average is $70.10 and its two-hundred day moving average is $75.31. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.76 and a quick ratio of 0.84. The firm has a market capitalization of $13.18 billion, a P/E ratio of 16.94, a P/E/G ratio of 1.18 and a beta of 1.20. Textron Inc. has a 12-month low of $57.70 and a 12-month high of $94.57.

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

Textron Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders 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 dividend yield of 0.11%. The ex-dividend date of this dividend is Friday, June 13th. Textron's dividend payout ratio (DPR) is currently 1.81%.

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.