Tower Research Capital LLC TRC Grows Holdings in Textron Inc. (NYSE:TXT)

Tower Research Capital LLC TRC increased its holdings in Textron Inc. (NYSE:TXT - Free Report) by 234.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,933 shares of the aerospace company's stock after purchasing an additional 7,660 shares during the quarter. Tower Research Capital LLC TRC's holdings in Textron were worth $836,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Analysts Set New Price Targets

Several analysts have weighed in on TXT shares. JPMorgan Chase & Co. cut their price objective on Textron from $90.00 to $88.00 and set a "neutral" rating on the stock in a research report on Thursday, January 16th. Vertical Research raised Textron from a "hold" rating to a "buy" rating and set a $91.00 price target on the stock in a research note on Monday, January 6th. Robert W. Baird lowered their price objective on Textron from $100.00 to $92.00 and set an "outperform" rating for the company in a research report on Thursday, January 23rd. Citigroup reduced their target price on shares of Textron from $111.00 to $107.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Finally, UBS Group lifted their price target on shares of Textron from $62.00 to $63.00 and gave the company a "sell" rating in a research report on Monday. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $87.70.

Textron Stock Performance

TXT stock traded down $0.31 on Wednesday, hitting $69.67. The company had a trading volume of 585,203 shares, compared to its average volume of 1,510,010. The company has a current ratio of 1.76, a quick ratio of 0.84 and a debt-to-equity ratio of 0.45. Textron Inc. has a 12-month low of $57.70 and a 12-month high of $94.57. The stock has a market cap of $12.65 billion, a price-to-earnings ratio of 16.16, a P/E/G ratio of 1.18 and a beta of 1.06. The stock's 50-day simple moving average is $70.11 and its 200 day simple moving average is $76.80.

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

Textron Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be issued a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.11%. The ex-dividend date of this dividend is Friday, June 13th. Textron's payout ratio is 1.81%.

Insider Activity at Textron

In other news, VP Mark S. Bamford sold 5,451 shares of Textron stock in a transaction on Monday, February 24th. The shares were sold at an average price of $72.68, for a total transaction of $396,178.68. Following the transaction, the vice president now owns 18,223 shares in the company, valued at $1,324,447.64. This trade represents a 23.03 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.70% of the stock is currently owned by company insiders.

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.