Voloridge Investment Management LLC boosted its holdings in Textron Inc. (NYSE:TXT - Free Report) by 35.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm 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 0.53% of Textron worth $74,989,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in the business. Pflug Koory LLC grew its stake in shares of Textron by 0.9% in the fourth quarter. Pflug Koory LLC now owns 13,778 shares of the aerospace company's stock worth $1,054,000 after purchasing an additional 125 shares in the last quarter. V Square Quantitative Management LLC lifted its holdings in Textron by 5.7% in the fourth quarter. V Square Quantitative Management LLC now owns 2,611 shares of the aerospace company's stock worth $200,000 after purchasing an additional 141 shares during the period. Syon Capital LLC grew its position in Textron by 4.5% in the 4th quarter. Syon Capital LLC now owns 3,538 shares of the aerospace company's stock valued at $271,000 after buying an additional 153 shares in the last quarter. Patriot Financial Group Insurance Agency LLC grew its position in Textron by 5.8% in the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 2,977 shares of the aerospace company's stock valued at $228,000 after buying an additional 163 shares in the last quarter. Finally, Motley Fool Asset Management LLC raised its position in shares of Textron by 6.3% during the 4th quarter. Motley Fool Asset Management LLC now owns 2,732 shares of the aerospace company's stock worth $209,000 after buying an additional 163 shares in the last quarter. Institutional investors own 86.03% of the company's stock.
Analysts Set New Price Targets
A number of analysts have recently weighed in on the stock. UBS Group upped their price target on shares of Textron from $62.00 to $63.00 and gave the stock a "sell" rating in a research note on Monday, April 28th. Citigroup dropped their target price on Textron from $111.00 to $107.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Morgan Stanley decreased their price target on Textron from $82.00 to $71.00 and set an "equal weight" rating for the company in a research note on Friday, April 11th. Finally, TD Cowen upgraded Textron to a "hold" rating in a research report on Monday, February 24th. 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 data from MarketBeat, Textron currently has an average rating of "Hold" and an average target price of $87.70.
Read Our Latest Report on Textron
Textron Price Performance
TXT stock traded down $0.46 on Monday, hitting $73.02. 804,249 shares of the company's stock traded hands, compared to its average volume of 1,216,002. The stock has a market cap of $13.18 billion, a price-to-earnings ratio of 16.94, a P/E/G ratio of 1.18 and a beta of 1.20. Textron Inc. has a 1-year low of $57.70 and a 1-year high of $94.57. The company has a current ratio of 1.76, a quick ratio of 0.84 and a debt-to-equity ratio of 0.45. The stock has a fifty day moving average of $70.10 and a 200-day moving average of $75.23.
Textron (NYSE:TXT - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The aerospace company reported $1.28 EPS for the quarter, beating analysts' consensus estimates of $1.17 by $0.11. The company had revenue of $3.31 billion during the quarter, compared to the consensus estimate of $3.26 billion. Textron had a return on equity of 14.92% and a net margin of 6.01%. The company's quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.20 EPS. On average, analysts forecast that Textron Inc. will post 6.12 EPS for the current fiscal year.
Textron Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.11%. The ex-dividend date is Friday, June 13th. Textron's dividend payout ratio is 1.81%.
Textron Company Profile
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Free Report)
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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