Boston Partners lifted its stake in Textron Inc. (NYSE:TXT - Free Report) by 2.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,016,363 shares of the aerospace company's stock after purchasing an additional 139,927 shares during the period. Textron comprises about 0.7% of Boston Partners' holdings, making the stock its 26th largest holding. Boston Partners owned about 3.58% of Textron worth $564,235,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. CVA Family Office LLC acquired a new stake in Textron in the fourth quarter valued at $29,000. Trust Co. of Vermont acquired a new stake in Textron in the third quarter valued at $37,000. Provence Wealth Management Group acquired a new stake in shares of Textron during the third quarter worth about $39,000. Morton Brown Family Wealth LLC acquired a new stake in shares of Textron during the fourth quarter worth about $40,000. Finally, Benjamin F. Edwards & Company Inc. increased its position in shares of Textron by 677.1% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 544 shares of the aerospace company's stock worth $44,000 after purchasing an additional 474 shares in the last quarter. 86.03% of the stock is currently owned by hedge funds and other institutional investors.
Textron Stock Performance
TXT traded up $0.06 during trading on Friday, reaching $88.55. The company's stock had a trading volume of 915,140 shares, compared to its average volume of 1,415,714. Textron Inc. has a 52-week low of $61.27 and a 52-week high of $97.33. The company's fifty day moving average price is $92.06 and its 200-day moving average price is $84.58. The company has a market capitalization of $16.89 billion, a price-to-earnings ratio of 18.92, a price-to-earnings-growth ratio of 1.40 and a beta of 1.32. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.84 and a current ratio of 1.81.
Textron (NYSE:TXT - Get Free Report) last announced its quarterly earnings data 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 during the quarter, compared to analysts' expectations of $3.29 billion. Textron had a net margin of 6.75% and a return on equity of 16.30%. Textron's revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.05 EPS. On average, equities analysts forecast that Textron Inc. will post 6.27 earnings per share for the current fiscal year.
Textron Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be given a dividend of $0.02 per share. The ex-dividend date is Friday, June 14th. This represents a $0.08 annualized dividend and a dividend yield of 0.09%. Textron's dividend payout ratio is currently 1.71%.
Wall Street Analyst Weigh In
A number of research firms have recently commented on TXT. Bank of America upgraded Textron from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $85.00 to $105.00 in a research report on Friday, March 8th. Susquehanna cut their target price on Textron from $110.00 to $105.00 and set a "positive" rating on the stock in a research report on Friday, April 26th. The Goldman Sachs Group lifted their target price on Textron from $103.00 to $120.00 and gave the stock a "buy" rating in a research report on Tuesday, April 16th. Citigroup boosted their price target on Textron from $104.00 to $111.00 and gave the company a "buy" rating in a research report on Thursday, April 4th. Finally, StockNews.com cut Textron from a "strong-buy" rating to a "buy" rating in a research report on Friday, April 26th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $95.63.
View Our Latest Stock Report on Textron
Textron Company Profile
(
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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