Axa S.A. Raises Holdings in Textron Inc. (NYSE:TXT)

AXA S.A. raised its holdings in Textron Inc. (NYSE:TXT - Free Report) by 48.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 81,482 shares of the aerospace company's stock after buying an additional 26,716 shares during the quarter. AXA S.A.'s holdings in Textron were worth $6,233,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Wellington Management Group LLP raised its stake in shares of Textron by 50.2% in the fourth quarter. Wellington Management Group LLP now owns 603,171 shares of the aerospace company's stock worth $46,137,000 after purchasing an additional 201,696 shares during the last quarter. Merit Financial Group LLC raised its position in Textron by 5.9% during the 4th quarter. Merit Financial Group LLC now owns 4,784 shares of the aerospace company's stock worth $366,000 after buying an additional 265 shares during the last quarter. Empowered Funds LLC lifted its stake in Textron by 28.6% during the 4th quarter. Empowered Funds LLC now owns 20,132 shares of the aerospace company's stock valued at $1,540,000 after acquiring an additional 4,480 shares during the period. Franklin Resources Inc. boosted its holdings in shares of Textron by 10.3% in the 3rd quarter. Franklin Resources Inc. now owns 164,029 shares of the aerospace company's stock valued at $14,505,000 after acquiring an additional 15,294 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Textron by 44.6% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,390 shares of the aerospace company's stock worth $1,343,000 after purchasing an additional 5,367 shares during the last quarter. Hedge funds and other institutional investors own 86.03% of the company's stock.

Insider Buying and Selling

In other Textron news, VP Mark S. Bamford sold 5,451 shares of the firm's stock in a transaction that occurred 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 transaction, the vice president now directly owns 18,223 shares of the company's stock, valued at $1,324,447.64. This trade represents a 23.03 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.70% of the stock is currently owned by company insiders.

Textron Price Performance

Shares of NYSE TXT traded up $0.14 during trading on Friday, hitting $72.36. The company had a trading volume of 1,146,176 shares, compared to its average volume of 1,192,436. The firm has a market capitalization of $13.06 billion, a price-to-earnings ratio of 16.79, a price-to-earnings-growth ratio of 1.18 and a beta of 1.20. Textron Inc. has a fifty-two week low of $57.70 and a fifty-two week high of $94.57. The stock has a fifty day simple moving average of $69.78 and a two-hundred day simple moving average of $75.82. 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 released its 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 return on equity of 14.92% and a net margin of 6.01%. The business had revenue of $3.31 billion for the quarter, compared to the consensus estimate of $3.26 billion. During the same quarter last year, the business posted $1.20 earnings per share. The business's quarterly revenue was up 5.5% compared to the same quarter last year. On average, research analysts expect that Textron Inc. will post 6.12 earnings per share for the current year.

Textron Announces Dividend

The firm 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 $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.11%. The ex-dividend date of this dividend is Friday, June 13th. Textron's dividend payout ratio is currently 1.81%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Morgan Stanley lowered their price target on shares of Textron from $82.00 to $71.00 and set an "equal weight" rating on the stock in a report on Friday, April 11th. UBS Group raised their target price on Textron from $62.00 to $63.00 and gave the stock a "sell" rating in a report on Monday, April 28th. TD Cowen raised Textron to a "hold" rating in a report on Monday, February 24th. Robert W. Baird dropped their price objective 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, Bank of America cut shares of Textron from a "buy" rating to a "neutral" rating and decreased their target price for the company from $110.00 to $85.00 in a research note on Friday, January 24th. One analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $87.70.

Textron Company 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.