Textron Inc. (NYSE:TXT) Shares Bought by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA lifted its stake in shares of Textron Inc. (NYSE:TXT) by 12.3% during the fourth quarter, Holdings Channel.com reports. The fund owned 89,780 shares of the aerospace company’s stock after purchasing an additional 9,807 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Textron were worth $6,867,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. bought a new position in Textron during the fourth quarter valued at about $31,000. Eastern Bank bought a new position in shares of Textron during the 4th quarter valued at about $42,000. Golden State Wealth Management LLC bought a new position in shares of Textron during the 4th quarter valued at about $63,000. McClarren Financial Advisors Inc. acquired a new position in shares of Textron in the 4th quarter worth approximately $68,000. Finally, Geneos Wealth Management Inc. raised its holdings in shares of Textron by 33.0% in the 4th quarter. Geneos Wealth Management Inc. now owns 964 shares of the aerospace company’s stock worth $74,000 after purchasing an additional 239 shares in the last quarter. Institutional investors own 86.03% of the company’s stock.

Textron Stock Performance

NYSE TXT opened at $61.04 on Tuesday. Textron Inc. has a twelve month low of $57.70 and a twelve month high of $97.34. The company has a quick ratio of 0.84, a current ratio of 1.76 and a debt-to-equity ratio of 0.45. The stock has a market cap of $11.09 billion, a P/E ratio of 14.16, a PEG ratio of 1.18 and a beta of 1.06. The company’s 50-day simple moving average is $73.14 and its 200 day simple moving average is $79.30.

Textron (NYSE:TXT) last announced its quarterly earnings results on Wednesday, January 22nd. The aerospace company reported $1.34 EPS for the quarter, beating 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 business had revenue of $3.61 billion for the quarter, compared to analyst estimates of $3.78 billion. During the same quarter in the previous year, the firm earned $1.60 EPS. Textron’s quarterly revenue was down 7.2% on a year-over-year basis. As a group, research analysts forecast that Textron Inc. will post 6.12 earnings per share for the current fiscal year.

Textron Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.13%. The ex-dividend date was Friday, March 14th. Textron’s dividend payout ratio is currently 1.86%.

Insider Buying and Selling at Textron

In other Textron news, VP Mark S. Bamford sold 5,451 shares of Textron stock in a transaction on Monday, February 24th. The stock was sold at an average price of $72.68, for a total value of $396,178.68. Following the completion of the transaction, the vice president now owns 18,223 shares in the company, valued at approximately $1,324,447.64. The trade was a 23.03 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Barclays reduced their target price on Textron from $104.00 to $95.00 and set an “overweight” rating for the company in a report on Monday, December 23rd. Bank of America cut shares of Textron from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $110.00 to $85.00 in a report on Friday, January 24th. TD Cowen upgraded shares of Textron to a “hold” rating in a report on Monday, February 24th. Morgan Stanley decreased their price objective on shares of Textron from $86.00 to $82.00 and set an “equal weight” rating for the company in a research note on Thursday, January 23rd. Finally, JPMorgan Chase & Co. cut their target price on shares of Textron from $90.00 to $88.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. One equities 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 company. According to MarketBeat, Textron presently has a consensus rating of “Moderate Buy” and a consensus target price of $93.45.

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.