Fidelity National Financial Inc. boosted its holdings in Textron Inc. (NYSE:TXT - Free Report) by 30.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 300,000 shares of the aerospace company's stock after purchasing an additional 70,000 shares during the period. Textron makes up 0.5% of Fidelity National Financial Inc.'s portfolio, making the stock its 10th largest position. Fidelity National Financial Inc. owned 0.16% of Textron worth $22,947,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. SBI Securities Co. Ltd. purchased a new stake in Textron during the 4th quarter valued at $31,000. Eastern Bank purchased a new stake in shares of Textron during the fourth quarter worth about $42,000. Golden State Wealth Management LLC bought a new stake in shares of Textron in the fourth quarter worth about $63,000. McClarren Financial Advisors Inc. purchased a new position in Textron during the 4th quarter valued at about $68,000. Finally, Geneos Wealth Management Inc. raised its position in Textron by 33.0% during the 4th 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 during the last quarter. 86.03% of the stock is owned by institutional investors.
Textron Stock Performance
TXT traded up $2.15 during midday trading on Thursday, hitting $68.38. 944,249 shares of the company traded hands, compared to its average volume of 1,508,383. The firm has a market capitalization of $12.42 billion, a PE ratio of 15.87, a price-to-earnings-growth ratio of 1.18 and a beta of 1.06. The company's 50-day moving average is $70.38 and its 200 day moving average is $77.34. Textron Inc. has a 52 week low of $57.70 and a 52 week high of $94.57. The company has a quick ratio of 0.84, a current ratio of 1.76 and a debt-to-equity ratio of 0.45.
Textron (NYSE:TXT - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The aerospace company reported $1.28 EPS for the quarter, topping the consensus estimate of $1.23 by $0.05. Textron had a return on equity of 14.92% and a net margin of 6.01%. On average, research analysts expect that Textron Inc. will post 6.12 EPS for the current year.
Textron Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be given a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.12%. Textron's dividend payout ratio (DPR) is 1.86%.
Insider Buying and Selling at Textron
In other news, VP Mark S. Bamford sold 5,451 shares of the firm's stock in a transaction dated 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 of the company's stock, 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.70% of the stock is owned by corporate insiders.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently weighed in on TXT shares. Susquehanna cut their price objective on Textron from $100.00 to $90.00 and set a "positive" rating on the stock in a research report on Wednesday, January 8th. Bank of America downgraded shares of Textron from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $110.00 to $85.00 in a research report on Friday, January 24th. TD Cowen upgraded shares of Textron to a "hold" rating in a report on Monday, February 24th. Robert W. Baird cut their target price on shares of Textron from $100.00 to $92.00 and set an "outperform" rating on the stock in a research note on Thursday, January 23rd. Finally, Citigroup decreased their price target on shares of Textron from $111.00 to $107.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, Textron has an average rating of "Hold" and an average target price of $89.30.
Check Out Our Latest Research 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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