Amica Mutual Insurance Co. Takes Position in Textron Inc. (NYSE:TXT)

Amica Mutual Insurance Co. purchased a new stake in Textron Inc. (NYSE:TXT - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 18,817 shares of the aerospace company's stock, valued at approximately $1,513,000.

A number of other large investors have also added to or reduced their stakes in TXT. Victory Capital Management Inc. grew its position in Textron by 3.4% in the third quarter. Victory Capital Management Inc. now owns 6,756,439 shares of the aerospace company's stock valued at $527,948,000 after acquiring an additional 220,891 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Textron by 11.6% during the third quarter. JPMorgan Chase & Co. now owns 5,745,108 shares of the aerospace company's stock worth $448,923,000 after buying an additional 596,214 shares in the last quarter. Primecap Management Co. CA grew its holdings in Textron by 9.7% during the third quarter. Primecap Management Co. CA now owns 5,394,200 shares of the aerospace company's stock worth $421,503,000 after buying an additional 477,720 shares in the last quarter. LSV Asset Management grew its holdings in Textron by 7.6% during the third quarter. LSV Asset Management now owns 3,271,771 shares of the aerospace company's stock worth $255,656,000 after buying an additional 230,560 shares in the last quarter. Finally, Northern Trust Corp grew its stake in Textron by 4.0% in the 3rd quarter. Northern Trust Corp now owns 1,757,258 shares of the aerospace company's stock valued at $137,312,000 after purchasing an additional 66,999 shares during the period. Institutional investors own 86.03% of the company's stock.

Textron Stock Down 0.1 %

Textron stock traded down $0.11 during trading hours on Monday, reaching $86.40. The stock had a trading volume of 1,674,794 shares, compared to its average volume of 1,226,807. The company has a market cap of $16.48 billion, a price-to-earnings ratio of 18.46, a PEG ratio of 1.36 and a beta of 1.30. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.81 and a quick ratio of 0.84. The business's 50 day moving average price is $92.12 and its 200-day moving average price is $83.98. Textron Inc. has a 52 week low of $61.27 and a 52 week high of $97.33.

Textron (NYSE:TXT - Get Free Report) last issued its quarterly earnings results on Thursday, April 25th. The aerospace company reported $1.20 earnings per share for the quarter, missing analysts' consensus estimates of $1.28 by ($0.08). The business had revenue of $3.14 billion for the quarter, compared to analysts' expectations of $3.29 billion. Textron had a return on equity of 16.30% and a net margin of 6.75%. Textron's revenue was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.05 EPS. Sell-side analysts anticipate that Textron Inc. will post 6.29 EPS for the current year.

Textron Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be paid a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.09%. The ex-dividend date of this dividend is Friday, June 14th. Textron's payout ratio is 1.71%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. StockNews.com downgraded Textron from a "strong-buy" rating to a "buy" rating in a research note on Friday. Susquehanna reduced their price objective on Textron from $110.00 to $105.00 and set a "positive" rating on the stock in a research report on Friday. Citigroup raised their price target on Textron from $104.00 to $111.00 and gave the stock a "buy" rating in a research report on Thursday, April 4th. Bank of America upgraded shares of Textron from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $85.00 to $105.00 in a report on Friday, March 8th. Finally, The Goldman Sachs Group increased their price target on shares of Textron from $103.00 to $120.00 and gave the stock a "buy" rating in a research note on Tuesday, April 16th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Textron currently has a consensus rating of "Moderate Buy" and a consensus price target of $95.63.

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.

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