Fullerton Fund Management Co Ltd. Buys Shares of 7,997 Textron Inc. (NYSE:TXT)

Fullerton Fund Management Co Ltd. bought a new stake in shares of Textron Inc. (NYSE:TXT - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 7,997 shares of the aerospace company's stock, valued at approximately $612,000.

Several other institutional investors also recently bought and sold shares of TXT. Invesco Ltd. raised its position in shares of Textron by 17.8% during the 4th quarter. Invesco Ltd. now owns 7,733,335 shares of the aerospace company's stock valued at $591,523,000 after buying an additional 1,167,105 shares in the last quarter. Boston Partners increased its stake in Textron by 4.7% in the 4th 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 during the period. Geode Capital Management LLC boosted its holdings in shares of Textron by 3.7% in the fourth quarter. Geode Capital Management LLC now owns 4,595,861 shares of the aerospace company's stock valued at $350,619,000 after purchasing an additional 164,964 shares during the period. Brandes Investment Partners LP lifted its holdings in shares of Textron by 19.4% in the 4th 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 during the period. Finally, Northern Trust Corp grew its holdings in Textron by 9.4% during the 4th quarter. Northern Trust Corp now owns 1,803,778 shares of the aerospace company's stock worth $137,971,000 after acquiring an additional 155,384 shares in the last quarter. 86.03% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Textron news, VP Mark S. Bamford sold 5,451 shares of Textron stock in a transaction that occurred 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 transaction, the vice president now 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 filing with the SEC, which is available at this hyperlink. 1.70% of the stock is owned by company insiders.

Textron Trading Down 0.3%

Shares of TXT stock traded down $0.25 during trading on Tuesday, hitting $76.55. 3,006,128 shares of the stock traded hands, compared to its average volume of 1,205,377. The firm has a market capitalization of $13.82 billion, a P/E ratio of 17.76, a price-to-earnings-growth 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. The firm's fifty day moving average price is $69.86 and its 200-day moving average price is $75.74.

Textron (NYSE:TXT - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The aerospace company reported $1.28 earnings per share 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 business had revenue of $3.31 billion during the quarter, compared to analysts' expectations of $3.26 billion. During the same period last year, the business earned $1.20 earnings per share. The business's revenue for the quarter was up 5.5% on a year-over-year basis. As a group, research analysts forecast that Textron Inc. will post 6.12 earnings per share for the current fiscal year.

Textron Dividend Announcement

The company also recently announced 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 annualized dividend and a yield of 0.10%. Textron's dividend payout ratio (DPR) is 1.81%.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Textron from $90.00 to $88.00 and set a "neutral" rating for the company in a research note on Thursday, January 16th. Robert W. Baird decreased their price objective on shares of Textron from $100.00 to $92.00 and set an "outperform" rating for the company in a research note on Thursday, January 23rd. 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 report on Friday, January 24th. Citigroup lowered their price target 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, TD Cowen upgraded shares of Textron to a "hold" rating in a research report on Monday, February 24th. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Textron currently has an average rating of "Hold" and an average price target of $87.70.

About Textron

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.