First Trust Advisors LP Boosts Holdings in Textron Inc. (NYSE:TXT)

First Trust Advisors LP boosted its holdings in shares of Textron Inc. (NYSE:TXT - Free Report) by 11.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 412,396 shares of the aerospace company's stock after purchasing an additional 41,716 shares during the quarter. First Trust Advisors LP owned about 0.22% of Textron worth $31,544,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Fidelity National Financial Inc. grew its stake in shares of Textron by 30.4% in the 4th quarter. Fidelity National Financial Inc. now owns 300,000 shares of the aerospace company's stock worth $22,947,000 after buying an additional 70,000 shares in the last quarter. GeoWealth Management LLC boosted its stake in shares of Textron by 500.2% during the 4th quarter. GeoWealth Management LLC now owns 3,529 shares of the aerospace company's stock worth $270,000 after purchasing an additional 2,941 shares during the period. Lodge Hill Capital LLC purchased a new position in shares of Textron during the 4th quarter worth about $12,036,000. Marshall Wace LLP purchased a new stake in Textron in the 4th quarter valued at about $22,370,000. Finally, Jump Financial LLC boosted its position in Textron by 2,851.7% in the 4th quarter. Jump Financial LLC now owns 100,004 shares of the aerospace company's stock valued at $7,649,000 after buying an additional 96,616 shares during the period. Institutional investors own 86.03% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on TXT shares. Robert W. Baird lowered their price objective on shares of Textron from $100.00 to $92.00 and set an "outperform" rating for the company in a research report on Thursday, January 23rd. Vertical Research raised shares of Textron from a "hold" rating to a "buy" rating and set a $91.00 price objective for the company in a research report on Monday, January 6th. Morgan Stanley lowered their price objective on shares of Textron from $82.00 to $71.00 and set an "equal weight" rating for the company in a research report on Friday, April 11th. Susquehanna lowered their price objective on shares of Textron from $100.00 to $90.00 and set a "positive" rating for the company in a research report on Wednesday, January 8th. Finally, UBS Group boosted their price target on shares of Textron from $62.00 to $63.00 and gave the company a "sell" rating in a report on Monday. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $87.70.

Insiders Place Their Bets

In other Textron news, VP Mark S. Bamford sold 5,451 shares of the firm's stock in a transaction 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 owns 18,223 shares of the company's stock, valued at approximately $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 SEC, which is accessible through the SEC website. Corporate insiders own 1.70% of the company's stock.

Textron Stock Down 0.6 %

Shares of NYSE TXT traded down $0.43 during trading hours on Wednesday, hitting $69.55. 188,546 shares of the stock were exchanged, compared to its average volume of 1,178,825. The company has a quick ratio of 0.84, a current ratio of 1.76 and a debt-to-equity ratio of 0.45. The company has a market cap of $12.63 billion, a PE ratio of 16.13, a PEG ratio of 1.18 and a beta of 1.06. The firm has a fifty day moving average price of $70.11 and a 200-day moving average price of $76.80. Textron Inc. has a 12 month low of $57.70 and a 12 month high of $94.57.

Textron (NYSE:TXT - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The aerospace company reported $1.28 EPS for the quarter, topping the consensus estimate of $1.17 by $0.11. The firm had revenue of $3.31 billion during the quarter, compared to analyst estimates of $3.26 billion. Textron had a net margin of 6.01% and a return on equity of 14.92%. Textron's revenue was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.20 EPS. On average, sell-side analysts expect that Textron Inc. will post 6.12 EPS for the current year.

Textron Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be issued a $0.02 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.12%. Textron's dividend payout ratio is currently 1.81%.

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.