Todd Asset Management LLC Boosts Stake in Textron Inc. (NYSE:TXT)

Todd Asset Management LLC lifted its holdings in shares of Textron Inc. (NYSE:TXT - Free Report) by 1.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 470,292 shares of the aerospace company's stock after purchasing an additional 8,198 shares during the period. Todd Asset Management LLC owned 0.25% of Textron worth $35,973,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. True Wealth Design LLC bought a new position in shares of Textron during the 3rd quarter worth approximately $26,000. Capital Performance Advisors LLP acquired a new position in shares of Textron during the 3rd quarter valued at $42,000. Eastern Bank bought a new position in Textron during the fourth quarter worth $42,000. Truvestments Capital LLC acquired a new stake in Textron in the third quarter worth $43,000. Finally, Venturi Wealth Management LLC increased its stake in Textron by 69.5% in the third quarter. Venturi Wealth Management LLC now owns 566 shares of the aerospace company's stock valued at $50,000 after purchasing an additional 232 shares in the last quarter. Institutional investors and hedge funds own 86.03% of the company's stock.

Textron Stock Up 2.1 %

TXT traded up $1.51 during mid-day trading on Friday, reaching $74.76. 1,458,474 shares of the stock were exchanged, compared to its average volume of 1,324,279. Textron Inc. has a 1 year low of $71.67 and a 1 year high of $97.33. The stock has a market capitalization of $13.65 billion, a PE ratio of 17.34, a price-to-earnings-growth ratio of 1.18 and a beta of 1.27. The company has a 50 day moving average price of $75.77 and a two-hundred day moving average price of $82.39. 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 earnings results on Wednesday, January 22nd. The aerospace company reported $1.34 EPS for the quarter, topping the consensus estimate of $1.27 by $0.07. The firm had revenue of $3.61 billion for the quarter, compared to analysts' expectations of $3.78 billion. Textron had a net margin of 6.01% and a return on equity of 14.92%. The company's quarterly revenue was down 7.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.60 EPS. As a group, research analysts anticipate that Textron Inc. will post 6.12 EPS for the current year.

Textron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a $0.02 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.08 dividend on an annualized basis and a yield of 0.11%. Textron's dividend payout ratio (DPR) is presently 1.86%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on TXT. Bank of America cut shares of Textron from a "buy" rating to a "neutral" rating and cut their price objective for the stock from $110.00 to $85.00 in a research report on Friday, January 24th. Morgan Stanley cut their price target on Textron from $86.00 to $82.00 and set an "equal weight" rating on the stock in a report on Thursday, January 23rd. Susquehanna decreased their price objective on Textron from $100.00 to $90.00 and set a "positive" rating for the company in a report on Wednesday, January 8th. Robert W. Baird cut their target price on Textron from $100.00 to $92.00 and set an "outperform" rating on the stock in a report on Thursday, January 23rd. Finally, JPMorgan Chase & Co. reduced their price target on shares of Textron from $90.00 to $88.00 and set a "neutral" rating for the company in a research report on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $93.45.

Insider Activity

In other Textron news, VP Mark S. Bamford sold 5,451 shares of the business's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $72.68, for a total value of $396,178.68. Following the transaction, the vice president now directly owns 18,223 shares in the company, valued at $1,324,447.64. The trade was a 23.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.70% of the company's stock.

Textron Profile

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.