Marshall Wace LLP Makes New $22.37 Million Investment in Textron Inc. (NYSE:TXT)

Marshall Wace LLP acquired a new stake in Textron Inc. (NYSE:TXT - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 292,455 shares of the aerospace company's stock, valued at approximately $22,370,000. Marshall Wace LLP owned approximately 0.16% of Textron at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Pflug Koory LLC lifted its holdings in shares of Textron by 0.9% during 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 during the period. V Square Quantitative Management LLC raised its position 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 acquiring an additional 141 shares in the last quarter. Patriot Financial Group Insurance Agency LLC increased its holdings in shares of 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 purchasing an additional 163 shares in the last quarter. Motley Fool Asset Management LLC increased its holdings in Textron by 6.3% in the fourth quarter. Motley Fool Asset Management LLC now owns 2,732 shares of the aerospace company's stock valued at $209,000 after buying an additional 163 shares in the last quarter. Finally, Foundations Investment Advisors LLC raised its holdings in Textron by 4.1% during the fourth quarter. Foundations Investment Advisors LLC now owns 4,272 shares of the aerospace company's stock worth $327,000 after purchasing an additional 169 shares during the last quarter. 86.03% of the stock is currently owned by hedge funds and other institutional investors.

Textron Stock Performance

Shares of Textron stock traded up $0.49 during trading hours on Friday, reaching $68.42. The company's stock had a trading volume of 501,137 shares, compared to its average volume of 1,508,848. 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 one year low of $57.70 and a one year high of $94.57. The company's 50 day simple moving average is $70.29 and its 200 day simple moving average is $77.22. The stock has a market cap of $12.43 billion, a P/E ratio of 15.87, a price-to-earnings-growth ratio of 1.18 and a beta of 1.06.

Textron (NYSE:TXT - Get Free Report) last issued its earnings results 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%. As a group, analysts expect that Textron Inc. will post 6.12 EPS for the current fiscal year.

Textron Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be paid a $0.02 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.08 annualized dividend and a dividend yield of 0.12%. Textron's payout ratio is currently 1.86%.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Robert W. Baird cut their price objective on Textron from $100.00 to $92.00 and set an "outperform" rating for the company in a research report on Thursday, January 23rd. Susquehanna reduced their target price on Textron from $100.00 to $90.00 and set a "positive" rating on the stock in a report on Wednesday, January 8th. Vertical Research upgraded shares of Textron from a "hold" rating to a "buy" rating and set a $91.00 price objective for the company in a research note on Monday, January 6th. Citigroup lowered their target price on Textron from $111.00 to $107.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. Finally, Bank of America lowered shares of Textron from a "buy" rating to a "neutral" rating and lowered their price target for the company from $110.00 to $85.00 in a report on Friday, January 24th. One equities research 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, the stock has an average rating of "Hold" and an average target price of $89.30.

Insider Buying and Selling

In other news, VP Mark S. Bamford sold 5,451 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $72.68, for a total value of $396,178.68. Following the completion of the transaction, the vice president now directly owns 18,223 shares in the company, valued at $1,324,447.64. This trade represents a 23.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.70% of the company's stock.

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.