Stonegate Investment Group LLC acquired a new position in shares of Textron Inc. (NYSE:TXT - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 4,021 shares of the aerospace company's stock, valued at approximately $291,000.
Other institutional investors have also made changes to their positions in the company. Invesco Ltd. lifted its stake 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 purchasing an additional 1,167,105 shares during the period. Boston Partners boosted its stake in shares of Textron by 4.7% during the 4th quarter. Boston Partners now owns 7,483,692 shares of the aerospace company's stock worth $572,465,000 after buying an additional 333,127 shares during the last quarter. Geode Capital Management LLC grew its stake 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 valued at $350,619,000 after purchasing an additional 164,964 shares in the last quarter. Brandes Investment Partners LP increased its holdings in Textron by 19.4% during the fourth quarter. Brandes Investment Partners LP now owns 1,859,703 shares of the aerospace company's stock worth $142,249,000 after buying an additional 302,712 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in shares of Textron by 9.4% in the 4th quarter. Northern Trust Corp now owns 1,803,778 shares of the aerospace company's stock valued at $137,971,000 after purchasing an additional 155,384 shares during the period. 86.03% of the stock is currently owned by institutional investors and hedge funds.
Textron Stock Performance
Shares of NYSE TXT traded up $1.08 during midday trading on Thursday, hitting $80.36. 1,557,576 shares of the stock traded hands, compared to its average volume of 1,254,904. The firm has a market capitalization of $14.51 billion, a P/E ratio of 18.22, a PEG ratio of 1.29 and a beta of 1.16. Textron Inc. has a one year low of $57.70 and a one year high of $94.57. 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 firm has a 50-day moving average of $73.76 and a two-hundred day moving average of $73.93.
Textron (NYSE:TXT - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The aerospace company reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.11. The business had revenue of $3.31 billion during the quarter, compared to analyst estimates of $3.26 billion. Textron had a return on equity of 14.77% and a net margin of 5.98%. Textron's revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.20 earnings per share. On average, equities analysts forecast that Textron Inc. will post 6.12 EPS for the current fiscal year.
Textron Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be paid a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.10%. The ex-dividend date is Friday, June 13th. Textron's payout ratio is currently 1.81%.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently issued reports on the stock. Morgan Stanley reduced 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 report on Friday, April 11th. Jefferies Financial Group reissued a "buy" rating and set a $95.00 price objective (up previously from $85.00) on shares of Textron in a report on Thursday, June 12th. Citigroup decreased their price objective on Textron from $111.00 to $107.00 and set a "buy" rating for the company in a report on Thursday, April 10th. 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 report on Monday, April 28th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $88.36.
Check Out Our Latest Research Report on TXT
Textron Profile
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Free Report)
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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