Millennium Management LLC Purchases 57,275 Shares of Textron Inc. (NYSE:TXT)

Millennium Management LLC boosted its position in shares of Textron Inc. (NYSE:TXT - Free Report) by 13.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 486,680 shares of the aerospace company's stock after buying an additional 57,275 shares during the period. Millennium Management LLC owned approximately 0.26% of Textron worth $37,226,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the company. Invesco Ltd. grew its stake in Textron by 17.8% during the fourth quarter. Invesco Ltd. now owns 7,733,335 shares of the aerospace company's stock worth $591,523,000 after buying an additional 1,167,105 shares in the last quarter. Boston Partners grew its stake in Textron by 4.7% during the fourth 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 in the last quarter. Geode Capital Management LLC grew its stake in Textron by 3.7% during the fourth quarter. Geode Capital Management LLC now owns 4,595,861 shares of the aerospace company's stock worth $350,619,000 after buying an additional 164,964 shares in the last quarter. Brandes Investment Partners LP grew its stake 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 in the last quarter. Finally, Northern Trust Corp grew its stake in Textron by 9.4% during the fourth quarter. Northern Trust Corp now owns 1,803,778 shares of the aerospace company's stock worth $137,971,000 after buying an additional 155,384 shares in the last quarter. 86.03% of the stock is currently owned by institutional investors and hedge funds.

Textron Trading Down 0.6%

NYSE TXT traded down $0.46 during trading hours on Friday, reaching $73.02. The company's stock had a trading volume of 804,249 shares, compared to its average volume of 1,213,333. The firm has a fifty day simple moving average of $70.10 and a 200-day simple moving average of $75.40. The stock has a market cap 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 52 week low of $57.70 and a 52 week high of $94.57. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.76 and a quick ratio of 0.84.

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 (EPS) for the quarter, beating analysts' consensus estimates 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 net margin of 6.01% and a return on equity of 14.92%. The firm's quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter last year, the business earned $1.20 EPS. Equities analysts forecast that Textron Inc. will post 6.12 earnings per share for the current fiscal year.

Textron Dividend Announcement

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

Insiders Place Their Bets

In other Textron news, VP Mark S. Bamford sold 5,451 shares of the firm's stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $72.68, for a total transaction of $396,178.68. Following the completion of the transaction, the vice president now owns 18,223 shares in the company, valued at approximately $1,324,447.64. This trade represents a 23.03% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.70% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on TXT shares. Robert W. Baird reduced their price target on shares of Textron from $100.00 to $92.00 and set an "outperform" rating on the stock in a research note on Thursday, January 23rd. UBS Group raised their price target on shares of Textron from $62.00 to $63.00 and gave the company a "sell" rating in a research note on Monday, April 28th. Citigroup reduced 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. Morgan Stanley reduced 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. Finally, Bank of America downgraded shares of Textron from a "buy" rating to a "neutral" rating and reduced their price target for the company from $110.00 to $85.00 in a research note on Friday, January 24th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus 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.