Toronto Dominion Bank Acquires 6,509 Shares of Textron Inc. (NYSE:TXT)

Toronto Dominion Bank lifted its holdings in Textron Inc. (NYSE:TXT - Free Report) by 7.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 99,507 shares of the aerospace company's stock after acquiring an additional 6,509 shares during the period. Toronto Dominion Bank owned 0.05% of Textron worth $7,611,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. SBI Securities Co. Ltd. bought a new position in shares of Textron in the fourth quarter worth about $31,000. Optiver Holding B.V. purchased a new stake in shares of Textron in the fourth quarter worth about $56,000. Golden State Wealth Management LLC purchased a new stake in shares of Textron in the fourth quarter worth about $63,000. McClarren Financial Advisors Inc. purchased a new stake in shares of Textron in the fourth quarter worth about $68,000. Finally, Geneos Wealth Management Inc. lifted its position in shares of Textron by 33.0% in the fourth quarter. Geneos Wealth Management Inc. now owns 964 shares of the aerospace company's stock worth $74,000 after buying an additional 239 shares in the last quarter. Institutional investors own 86.03% of the company's stock.

Analyst Ratings Changes

TXT has been the topic of a number of research analyst reports. TD Cowen upgraded Textron to a "hold" rating in a research report on Monday, February 24th. UBS Group boosted their target price on Textron from $62.00 to $63.00 and gave the stock a "sell" rating in a research report on Monday, April 28th. Citigroup decreased their target price on Textron from $111.00 to $107.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Finally, Morgan Stanley decreased their target price on Textron from $82.00 to $71.00 and set an "equal weight" rating on the stock in a research report on Friday, April 11th. One research 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.com, the stock has a consensus rating of "Hold" and a consensus target price of $87.70.

Textron Trading Up 2.5%

TXT stock traded up $1.86 during midday trading on Tuesday, reaching $74.78. 197,976 shares of the company traded hands, compared to its average volume of 1,212,133. 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 quick ratio of 0.84 and a current ratio of 1.76. The business has a 50 day moving average of $70.07 and a 200-day moving average of $75.12. The firm has a market capitalization of $13.50 billion, a price-to-earnings ratio of 17.35, a P/E/G ratio of 1.18 and a beta of 1.20.

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 for 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 period in the prior year, the business posted $1.20 earnings per share. As a group, sell-side analysts expect that Textron Inc. will post 6.12 earnings per share for the current fiscal year.

Textron Announces Dividend

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

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.