Textron Inc. (NYSE:TXT) Shares Bought by Voloridge Investment Management LLC

Voloridge Investment Management LLC increased its holdings in Textron Inc. (NYSE:TXT - Free Report) by 35.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 980,374 shares of the aerospace company's stock after acquiring an additional 254,379 shares during the quarter. Voloridge Investment Management LLC owned approximately 0.53% of Textron worth $74,989,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Wellington Management Group LLP increased its holdings in Textron by 50.2% during the 4th quarter. Wellington Management Group LLP now owns 603,171 shares of the aerospace company's stock worth $46,137,000 after purchasing an additional 201,696 shares during the last quarter. Merit Financial Group LLC increased its stake in shares of Textron by 5.9% in the fourth quarter. Merit Financial Group LLC now owns 4,784 shares of the aerospace company's stock worth $366,000 after buying an additional 265 shares during the last quarter. Empowered Funds LLC raised its holdings in Textron by 28.6% in the fourth quarter. Empowered Funds LLC now owns 20,132 shares of the aerospace company's stock valued at $1,540,000 after acquiring an additional 4,480 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Textron by 44.6% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,390 shares of the aerospace company's stock valued at $1,343,000 after acquiring an additional 5,367 shares during the last quarter. Finally, Todd Asset Management LLC grew its holdings in Textron by 1.8% during the 4th quarter. Todd Asset Management LLC now owns 470,292 shares of the aerospace company's stock worth $35,973,000 after acquiring an additional 8,198 shares in the last quarter. Hedge funds and other institutional investors own 86.03% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on TXT shares. Bank of America lowered shares of Textron from a "buy" rating to a "neutral" rating and cut their target price for the company from $110.00 to $85.00 in a research note on Friday, January 24th. TD Cowen raised Textron to a "hold" rating in a report on Monday, February 24th. Robert W. Baird decreased their target price on Textron from $100.00 to $92.00 and set an "outperform" rating for the company in a research report on Thursday, January 23rd. UBS Group upped their price target on Textron from $62.00 to $63.00 and gave the company a "sell" rating in a research report on Monday, April 28th. Finally, Morgan Stanley decreased their price objective on shares of Textron from $82.00 to $71.00 and set an "equal weight" rating for the company in a report on Friday, April 11th. One investment 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's stock. Based on data from MarketBeat, Textron presently has a consensus rating of "Hold" and an average price target of $87.70.

Textron Stock Performance

Shares of TXT opened at $76.10 on Wednesday. The firm has a fifty day moving average of $70.15 and a 200-day moving average of $75.55. The company has a market cap of $13.74 billion, a price-to-earnings ratio of 17.66, a price-to-earnings-growth ratio of 1.18 and a beta of 1.20. 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 1 year low of $57.70 and a 1 year high of $94.57.

Textron (NYSE:TXT - Get Free Report) last posted its earnings results 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. Textron had a net margin of 6.01% and a return on equity of 14.92%. The firm had revenue of $3.31 billion during the quarter, compared to analyst estimates of $3.26 billion. During the same period in the previous year, the business posted $1.20 EPS. Textron's revenue was up 5.5% on a year-over-year basis. As a group, equities analysts anticipate that Textron Inc. will post 6.12 earnings per share for the current year.

Textron Announces Dividend

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

Insider Buying and Selling

In other Textron news, VP Mark S. Bamford sold 5,451 shares of the business's stock in a transaction on Monday, February 24th. The stock was 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. The trade was a 23.03% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.70% of the company's stock.

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.

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