Millennium Management LLC Raises Position in Textron Inc. (NYSE:TXT)

Millennium Management LLC increased its position in shares of Textron Inc. (NYSE:TXT - Free Report) by 13.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 486,680 shares of the aerospace company's stock after acquiring an additional 57,275 shares during the quarter. Millennium Management LLC owned about 0.26% of Textron worth $37,226,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of TXT. SBI Securities Co. Ltd. bought a new stake in shares of Textron in the 4th quarter valued at $31,000. Optiver Holding B.V. acquired a new position in Textron in the fourth quarter valued at about $56,000. Golden State Wealth Management LLC bought a new stake in shares of Textron in the fourth quarter worth about $63,000. McClarren Financial Advisors Inc. acquired a new stake in shares of Textron during the fourth quarter worth about $68,000. Finally, Geneos Wealth Management Inc. raised 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 period. Institutional investors and hedge funds own 86.03% of the company's stock.

Textron Trading Down 3.5%

Shares of NYSE:TXT traded down $2.68 during mid-day trading on Wednesday, reaching $73.37. 1,436,359 shares of the company's stock were exchanged, compared to its average volume of 1,210,961. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.84 and a current ratio of 1.76. Textron Inc. has a twelve month low of $57.70 and a twelve month high of $94.57. The firm has a market capitalization of $13.25 billion, a price-to-earnings ratio of 17.02, a PEG ratio of 1.18 and a beta of 1.20. The business's fifty day moving average price is $70.15 and its 200-day moving average price is $75.55.

Textron (NYSE:TXT - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The aerospace company reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.17 by $0.11. The company had revenue of $3.31 billion during the quarter, compared to analysts' expectations of $3.26 billion. Textron had a net margin of 6.01% and a return on equity of 14.92%. Textron's revenue for the quarter 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. On average, research analysts predict 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 issued a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.11%. The ex-dividend date is Friday, June 13th. Textron's payout ratio is 1.81%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Bank of America downgraded shares of Textron from a "buy" rating to a "neutral" rating and lowered their price objective for the stock from $110.00 to $85.00 in a research report on Friday, January 24th. Citigroup dropped their price target on Textron from $111.00 to $107.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th. Robert W. Baird cut their price target on Textron from $100.00 to $92.00 and set an "outperform" rating on the stock in a report on Thursday, January 23rd. Morgan Stanley decreased 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. Finally, UBS Group boosted their price objective 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 analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $87.70.

Insider Buying and Selling at Textron

In other news, VP Mark S. Bamford sold 5,451 shares of the business's stock in a transaction dated 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 sale, the vice president now directly owns 18,223 shares of the company's stock, valued at $1,324,447.64. The trade was a 23.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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.