Textron Inc. (NYSE:TXT) Shares Acquired by Mackenzie Financial Corp

Mackenzie Financial Corp grew its position in Textron Inc. (NYSE:TXT - Free Report) by 110.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 442,358 shares of the aerospace company's stock after acquiring an additional 232,277 shares during the quarter. Mackenzie Financial Corp owned about 0.25% of Textron worth $31,960,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in TXT. Balyasny Asset Management L.P. boosted its holdings in shares of 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 buying an additional 1,218,485 shares in the last quarter. Invesco Ltd. boosted its stake in Textron by 17.8% in the 4th quarter. Invesco Ltd. now owns 7,733,335 shares of the aerospace company's stock worth $591,523,000 after purchasing an additional 1,167,105 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Textron in the 4th quarter worth approximately $41,451,000. D. E. Shaw & Co. Inc. boosted its stake 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 worth $78,872,000 after purchasing an additional 510,085 shares in the last quarter. Finally, Marshall Wace LLP acquired a new stake in Textron in the 4th quarter worth approximately $22,370,000. Hedge funds and other institutional investors own 86.03% of the company's stock.

Analyst Ratings Changes

TXT has been the subject of a number of recent research reports. Jefferies Financial Group reissued a "buy" rating and set a $95.00 price target (up from $85.00) on shares of Textron in a research report on Thursday, June 12th. Citigroup reduced their price target on shares of Textron from $111.00 to $107.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. Barclays raised their price target on shares of Textron from $95.00 to $105.00 and gave the stock an "overweight" rating in a research report on Tuesday. UBS Group raised shares of Textron from a "sell" rating to a "neutral" rating and lifted their target price for the company from $73.00 to $88.00 in a report on Monday, July 28th. Finally, Morgan Stanley lifted their target price on shares of Textron from $71.00 to $86.00 and gave the company an "equal weight" rating in a report on Thursday, July 17th. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Textron currently has an average rating of "Moderate Buy" and an average target price of $92.67.

Textron Price Performance

Textron stock traded down $0.51 during midday trading on Friday, reaching $77.26. 1,312,012 shares of the company were exchanged, compared to its average volume of 1,911,536. The company has a market capitalization of $13.77 billion, a price-to-earnings ratio of 17.48, a P/E/G ratio of 1.27 and a beta of 1.17. The firm's 50-day simple moving average is $79.33 and its 200-day simple moving average is $74.76. Textron Inc. has a 1 year low of $57.70 and a 1 year high of $91.48. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.84 and a current ratio of 1.84.

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

Textron Announces Dividend

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

Insider Buying and Selling

In other Textron news, EVP Julie G. Duffy sold 28,543 shares of Textron stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $79.37, for a total transaction of $2,265,457.91. Following the sale, the executive vice president directly owned 37,624 shares in the company, valued at $2,986,216.88. The trade was a 43.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.70% of the company's stock.

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.