Cookson Peirce & Co. Inc. boosted its holdings in shares of Textron Inc. (NYSE:TXT - Free Report) by 15.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 266,532 shares of the aerospace company's stock after purchasing an additional 35,825 shares during the period. Textron comprises 1.3% of Cookson Peirce & Co. Inc.'s portfolio, making the stock its 26th biggest holding. Cookson Peirce & Co. Inc. owned about 0.14% of Textron worth $21,435,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TXT. Capital Analysts LLC grew its holdings in Textron by 171.2% during the 4th quarter. Capital Analysts LLC now owns 1,207 shares of the aerospace company's stock worth $97,000 after acquiring an additional 762 shares during the period. Sippican Capital Advisors acquired a new position in Textron in the 4th quarter valued at about $201,000. Cornercap Investment Counsel Inc. grew its stake in Textron by 1.3% in the 4th quarter. Cornercap Investment Counsel Inc. now owns 34,507 shares of the aerospace company's stock valued at $2,775,000 after buying an additional 458 shares during the last quarter. Louisiana State Employees Retirement System acquired a new position in Textron in the 4th quarter valued at about $957,000. Finally, ORG Partners LLC acquired a new position in shares of Textron during the 4th quarter worth approximately $97,000. Institutional investors own 86.03% of the company's stock.
Wall Street Analyst Weigh In
Several equities analysts recently commented on TXT shares. UBS Group increased their price objective on shares of Textron from $77.00 to $81.00 and gave the company a "sell" rating in a research note on Friday, January 26th. Citigroup raised their price objective on shares of Textron from $104.00 to $111.00 and gave the company a "buy" rating in a research note on Thursday, April 4th. StockNews.com raised shares of Textron from a "buy" rating to a "strong-buy" rating in a research report on Thursday, January 25th. Bank of America raised shares of Textron from a "neutral" rating to a "buy" rating and raised their price target for the company from $85.00 to $105.00 in a research report on Friday, March 8th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Textron from $84.00 to $85.00 and gave the stock a "neutral" rating in a research report on Wednesday, December 20th. One analyst has rated the stock with a sell rating, two have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $93.63.
Read Our Latest Analysis on TXT
Textron Trading Up 0.2 %
Shares of TXT traded up $0.17 during trading hours on Tuesday, reaching $93.23. 1,018,812 shares of the company traded hands, compared to its average volume of 1,157,227. Textron Inc. has a 12-month low of $61.27 and a 12-month high of $97.33. The stock's fifty day moving average price is $91.34 and its 200 day moving average price is $83.14. The firm has a market cap of $17.94 billion, a price-to-earnings ratio of 20.40, a PEG ratio of 1.48 and a beta of 1.30. The company has a current ratio of 1.92, a quick ratio of 1.03 and a debt-to-equity ratio of 0.50.
Textron (NYSE:TXT - Get Free Report) last posted its quarterly earnings data on Wednesday, January 24th. The aerospace company reported $1.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.53 by $0.07. Textron had a net margin of 6.73% and a return on equity of 16.05%. The firm had revenue of $3.89 billion for the quarter, compared to the consensus estimate of $3.97 billion. During the same quarter in the prior year, the company posted $1.07 earnings per share. The company's revenue for the quarter was up 7.0% compared to the same quarter last year. Sell-side analysts forecast that Textron Inc. will post 6.27 earnings per share for the current year.
Textron Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were given a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.09%. The ex-dividend date of this dividend was Thursday, March 14th. Textron's payout ratio is 1.75%.
Textron 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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