Textron Inc. (NYSE:TXT) Stake Raised by Advisors Asset Management Inc.

Advisors Asset Management Inc. boosted its holdings in Textron Inc. (NYSE:TXT) by 9.2% during the 4th quarter, Holdings Channel.com reports. The fund owned 27,711 shares of the aerospace company’s stock after purchasing an additional 2,338 shares during the quarter. Advisors Asset Management Inc.’s holdings in Textron were worth $2,120,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of TXT. PNC Financial Services Group Inc. increased its stake in Textron by 4.8% in the 3rd quarter. PNC Financial Services Group Inc. now owns 46,397 shares of the aerospace company’s stock worth $4,110,000 after purchasing an additional 2,124 shares in the last quarter. Avior Wealth Management LLC increased its stake in Textron by 4,705.6% in the 3rd quarter. Avior Wealth Management LLC now owns 3,460 shares of the aerospace company’s stock worth $306,000 after purchasing an additional 3,388 shares in the last quarter. Intech Investment Management LLC increased its stake in Textron by 116.5% in the 3rd quarter. Intech Investment Management LLC now owns 16,718 shares of the aerospace company’s stock worth $1,481,000 after purchasing an additional 8,997 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in Textron by 5.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 79,973 shares of the aerospace company’s stock worth $7,084,000 after purchasing an additional 4,023 shares in the last quarter. Finally, Raymond James Trust N.A. grew its stake in Textron by 105.1% during the 3rd quarter. Raymond James Trust N.A. now owns 7,376 shares of the aerospace company’s stock valued at $653,000 after acquiring an additional 3,779 shares in the last quarter. Hedge funds and other institutional investors own 86.03% of the company’s stock.

Insider Buying and Selling

In other news, VP Mark S. Bamford sold 5,451 shares of the company’s stock in a transaction that occurred on 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 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.70% of the company’s stock.

Analyst Ratings Changes

TXT has been the topic of several research analyst reports. Susquehanna lowered their target price on Textron from $100.00 to $90.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. Robert W. Baird lowered their target price on Textron from $100.00 to $92.00 and set an “outperform” rating on the stock in a research note on Thursday, January 23rd. TD Cowen raised Textron to a “hold” rating in a research note on Monday, February 24th. Vertical Research raised Textron from a “hold” rating to a “buy” rating and set a $91.00 target price on the stock in a research note on Monday, January 6th. Finally, Barclays lowered their target price on Textron from $104.00 to $95.00 and set an “overweight” rating on the stock in a research note on Monday, December 23rd. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Textron has an average rating of “Moderate Buy” and an average price target of $93.45.

Textron Trading Down 0.6 %

Shares of NYSE TXT opened at $73.07 on Friday. The stock has a market cap of $13.27 billion, a price-to-earnings ratio of 16.95, a PEG ratio of 1.18 and a beta of 1.27. The business has a 50 day simple moving average of $74.88 and a 200 day simple moving average of $80.65. Textron Inc. has a 52 week low of $70.14 and a 52 week high of $97.34. 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) last posted its earnings results on Wednesday, January 22nd. The aerospace company reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.07. Textron had a return on equity of 14.92% and a net margin of 6.01%. The firm had revenue of $3.61 billion during the quarter, compared to analyst estimates of $3.78 billion. During the same period in the previous year, the company earned $1.60 EPS. The company’s revenue for the quarter was down 7.2% on a year-over-year basis. On average, research analysts predict that Textron Inc. will post 6.12 earnings per share for the current fiscal year.

Textron Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be issued a $0.02 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.08 annualized dividend and a yield of 0.11%. Textron’s dividend payout ratio (DPR) is currently 1.86%.

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.