Northern Trust Corp Purchases 155,384 Shares of Textron Inc. (NYSE:TXT)

Northern Trust Corp increased its holdings in shares of Textron Inc. (NYSE:TXT - Free Report) by 9.4% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 1,803,778 shares of the aerospace company's stock after purchasing an additional 155,384 shares during the period. Northern Trust Corp owned approximately 0.97% of Textron worth $137,971,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of TXT. SBI Securities Co. Ltd. acquired a new stake in Textron during the fourth quarter valued at approximately $31,000. Eastern Bank acquired a new stake in shares of Textron during the fourth quarter worth $42,000. Optiver Holding B.V. bought a new stake in Textron in the fourth quarter valued at approximately $56,000. Golden State Wealth Management LLC acquired a new position in shares of Textron in the 4th quarter valued at approximately $63,000. Finally, McClarren Financial Advisors Inc. bought a new stake in Textron in the 4th quarter valued at approximately $68,000. 86.03% of the stock is owned by institutional investors.

Textron Trading Up 4.2 %

Shares of NYSE:TXT traded up $2.91 during midday trading on Thursday, reaching $72.91. The company's stock had a trading volume of 490,949 shares, compared to its average volume of 1,187,077. The firm has a 50 day moving average price of $69.77 and a two-hundred day moving average price of $76.12. Textron Inc. has a fifty-two week low of $57.70 and a fifty-two week high of $94.57. The firm has a market capitalization of $13.16 billion, a price-to-earnings ratio of 16.91, a PEG ratio of 1.18 and a beta of 1.20. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.84 and a current ratio of 1.76.

Textron (NYSE:TXT - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The aerospace company reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.17 by $0.11. Textron had a net margin of 6.01% and a return on equity of 14.92%. The firm had revenue of $3.31 billion during the quarter, compared to the consensus estimate of $3.26 billion. During the same period in the previous year, the firm posted $1.20 earnings per share. The business's revenue was up 5.5% compared to the same quarter last year. As a group, analysts forecast that Textron Inc. will post 6.12 earnings per share for the current year.

Textron Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be paid a dividend of $0.02 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.08 annualized dividend and a dividend yield of 0.11%. Textron's payout ratio is currently 1.81%.

Insiders Place Their Bets

In other Textron news, VP Mark S. Bamford sold 5,451 shares of Textron stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $72.68, for a total transaction 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 $1,324,447.64. The trade was a 23.03 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.70% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on TXT. Bank of America lowered Textron from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $110.00 to $85.00 in a report on Friday, January 24th. Robert W. Baird decreased their target price on shares of Textron from $100.00 to $92.00 and set an "outperform" rating for the company in a research note on Thursday, January 23rd. Susquehanna cut their price target on shares of Textron from $100.00 to $90.00 and set a "positive" rating for the company in a research note on Wednesday, January 8th. JPMorgan Chase & Co. dropped their target price on shares of Textron from $90.00 to $88.00 and set a "neutral" rating on the stock in a report on Thursday, January 16th. Finally, TD Cowen upgraded Textron to a "hold" rating in a research note on Monday, February 24th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $87.70.

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.