Hsbc Holdings PLC Raises Stake in Textron Inc. (NYSE:TXT)

Hsbc Holdings PLC increased its stake in shares of Textron Inc. (NYSE:TXT - Free Report) by 14.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 856,380 shares of the aerospace company's stock after buying an additional 107,633 shares during the quarter. Hsbc Holdings PLC owned about 0.46% of Textron worth $65,476,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TXT. SBI Securities Co. Ltd. acquired a new stake in Textron during the fourth quarter worth about $31,000. Eastern Bank acquired a new stake in shares of Textron during the 4th quarter worth approximately $42,000. Golden State Wealth Management LLC acquired a new stake in shares of Textron during the 4th quarter worth approximately $63,000. McClarren Financial Advisors Inc. bought a new position in Textron in the fourth quarter valued at approximately $68,000. Finally, Geneos Wealth Management Inc. raised its position in Textron by 33.0% during the fourth quarter. Geneos Wealth Management Inc. now owns 964 shares of the aerospace company's stock valued at $74,000 after purchasing an additional 239 shares in the last quarter. 86.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on TXT. Bank of America downgraded Textron from a "buy" rating to a "neutral" rating and reduced their target price for the company from $110.00 to $85.00 in a report on Friday, January 24th. TD Cowen upgraded Textron to a "hold" rating in a research report on Monday, February 24th. JPMorgan Chase & Co. reduced their price target on shares of Textron from $90.00 to $88.00 and set a "neutral" rating on the stock in a research note on Thursday, January 16th. Morgan Stanley dropped their price objective on shares of 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, Robert W. Baird lowered their price target on shares of Textron from $100.00 to $92.00 and set an "outperform" rating for the company in a report on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Textron presently has a consensus rating of "Hold" and a consensus target price of $87.70.

Insider Activity at Textron

In other news, VP Mark S. Bamford sold 5,451 shares of the business's stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $72.68, for a total value of $396,178.68. Following the transaction, the vice president now owns 18,223 shares in the company, valued at $1,324,447.64. The trade was a 23.03 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.70% of the stock is currently owned by insiders.

Textron Stock Down 0.4 %

Shares of Textron stock traded down $0.26 during trading on Wednesday, reaching $69.72. 234,146 shares of the company traded hands, compared to its average volume of 1,178,985. 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 has a market capitalization of $12.66 billion, a PE ratio of 16.16, a P/E/G ratio of 1.18 and a beta of 1.06. The company has a 50 day moving average price of $70.11 and a 200-day moving average price of $76.80. 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 released 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. Textron had a net margin of 6.01% and a return on equity of 14.92%. The firm had revenue of $3.31 billion for the quarter, compared to the consensus estimate of $3.26 billion. During the same quarter in the prior year, the company posted $1.20 earnings per share. The business's revenue was up 5.5% on a year-over-year basis. As a group, equities research analysts expect that Textron Inc. will post 6.12 earnings per share for the current fiscal year.

Textron Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be issued a dividend of $0.02 per share. The ex-dividend date is Friday, June 13th. This represents a $0.08 annualized dividend and a yield of 0.11%. Textron's dividend payout ratio (DPR) is currently 1.81%.

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.