Textron Inc. (NYSE:TXT) Position Raised by Worldquant Millennium Advisors LLC

Worldquant Millennium Advisors LLC raised its holdings in shares of Textron Inc. (NYSE:TXT - Free Report) by 493.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 211,974 shares of the aerospace company's stock after purchasing an additional 176,279 shares during the quarter. Worldquant Millennium Advisors LLC owned 0.11% of Textron worth $16,214,000 at the end of the most recent quarter.

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

Textron Stock Performance

NYSE TXT traded down $0.46 during trading hours on Monday, hitting $73.02. The company had a trading volume of 804,249 shares, compared to its average volume of 1,216,002. The company has a quick ratio of 0.84, a current ratio of 1.76 and a debt-to-equity ratio of 0.45. The firm has a market cap of $13.18 billion, a P/E ratio of 16.94, a price-to-earnings-growth ratio of 1.18 and a beta of 1.20. Textron Inc. has a fifty-two week low of $57.70 and a fifty-two week high of $94.57. The business has a fifty day simple moving average of $70.10 and a 200-day simple moving average of $75.23.

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

Textron Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be given a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.11%. The ex-dividend date is Friday, June 13th. Textron's dividend payout ratio is currently 1.81%.

Wall Street Analysts Forecast Growth

TXT has been the subject of several research analyst reports. Morgan Stanley lowered their price objective on Textron from $82.00 to $71.00 and set an "equal weight" rating for the company in a report on Friday, April 11th. TD Cowen upgraded Textron to a "hold" rating in a report on Monday, February 24th. Citigroup reduced their price objective on Textron from $111.00 to $107.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th. Finally, UBS Group lifted their price objective on shares of Textron from $62.00 to $63.00 and gave the stock a "sell" rating in a report on Monday, April 28th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $87.70.

Textron Company 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.