1,418 Shares in Textron Inc. (NYSE:TXT) Acquired by Transce3nd LLC

Transce3nd LLC bought a new position in Textron Inc. (NYSE:TXT) during the 4th quarter, Holdings Channel.com reports. The institutional investor bought 1,418 shares of the aerospace company’s stock, valued at approximately $108,000.

Other hedge funds also recently added to or reduced their stakes in the company. Invesco Ltd. lifted its position in Textron by 17.8% in the 4th quarter. Invesco Ltd. now owns 7,733,335 shares of the aerospace company’s stock valued at $591,523,000 after purchasing an additional 1,167,105 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Textron in the fourth quarter valued at approximately $41,451,000. Boston Partners raised its holdings in shares of Textron by 4.7% during the fourth quarter. Boston Partners now owns 7,483,692 shares of the aerospace company’s stock valued at $572,465,000 after buying an additional 333,127 shares during the last quarter. Brandes Investment Partners LP boosted its position in shares of Textron by 19.4% during the fourth quarter. Brandes Investment Partners LP now owns 1,859,703 shares of the aerospace company’s stock worth $142,249,000 after buying an additional 302,712 shares during the period. Finally, Marshall Wace LLP bought a new position in Textron in the 4th quarter worth approximately $22,370,000. 86.03% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on TXT. Susquehanna lowered their price target on Textron from $100.00 to $90.00 and set a “positive” rating on the stock in a report on Wednesday, January 8th. Bank of America lowered shares of Textron from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $110.00 to $85.00 in a research note on Friday, January 24th. TD Cowen raised Textron to a “hold” rating in a report on Monday, February 24th. Robert W. Baird decreased their price target on Textron from $100.00 to $92.00 and set an “outperform” rating for the company in a research note on Thursday, January 23rd. Finally, JPMorgan Chase & Co. decreased their target price on Textron from $90.00 to $88.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Textron presently has an average rating of “Hold” and a consensus target price of $89.30.

Insider Buying and Selling

In other news, VP Mark S. Bamford sold 5,451 shares of the company’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $72.68, for a total value 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 represents a 23.03 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.70% of the company’s stock.

Textron Price Performance

NYSE TXT opened at $64.57 on Tuesday. 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 1 year low of $57.70 and a 1 year high of $95.86. The company has a market cap of $11.73 billion, a PE ratio of 14.98, a PEG ratio of 1.18 and a beta of 1.06. The stock’s 50-day moving average price is $70.66 and its two-hundred day moving average price is $77.50.

Textron (NYSE:TXT) last posted its quarterly earnings data on Wednesday, January 22nd. The aerospace company reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.27 by $0.07. Textron had a net margin of 6.01% and a return on equity of 14.92%. The firm had revenue of $3.61 billion during the quarter, compared to analyst estimates of $3.78 billion. During the same quarter last year, the business posted $1.60 EPS. The company’s revenue was down 7.2% on a year-over-year basis. On average, analysts predict that Textron Inc. will post 6.12 EPS for the current year.

Textron Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were given a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.12%. The ex-dividend date of this dividend was Friday, March 14th. Textron’s payout ratio is 1.86%.

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.