Adage Capital Partners GP L.L.C. Has $42.14 Million Stake in Textron Inc. (NYSE:TXT)

Adage Capital Partners GP L.L.C. boosted its stake in shares of Textron Inc. (NYSE:TXT) by 88.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 550,976 shares of the aerospace company’s stock after acquiring an additional 259,350 shares during the quarter. Adage Capital Partners GP L.L.C.’s holdings in Textron were worth $42,144,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of TXT. Pflug Koory LLC increased its holdings in Textron by 0.9% during the 4th quarter. Pflug Koory LLC now owns 13,778 shares of the aerospace company’s stock valued at $1,054,000 after purchasing an additional 125 shares in the last quarter. V Square Quantitative Management LLC increased its stake in shares of Textron by 5.7% in the fourth quarter. V Square Quantitative Management LLC now owns 2,611 shares of the aerospace company’s stock valued at $200,000 after buying an additional 141 shares in the last quarter. Syon Capital LLC raised its holdings in shares of Textron by 4.5% in the fourth quarter. Syon Capital LLC now owns 3,538 shares of the aerospace company’s stock valued at $271,000 after buying an additional 153 shares during the last quarter. Patriot Financial Group Insurance Agency LLC raised its holdings in shares of Textron by 5.8% in the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 2,977 shares of the aerospace company’s stock valued at $228,000 after buying an additional 163 shares during the last quarter. Finally, Motley Fool Asset Management LLC grew its holdings in Textron by 6.3% during the 4th quarter. Motley Fool Asset Management LLC now owns 2,732 shares of the aerospace company’s stock worth $209,000 after acquiring an additional 163 shares during the last quarter. 86.03% of the stock is currently owned by institutional investors and hedge funds.

Textron Trading Up 2.8 %

NYSE TXT opened at $68.07 on Friday. Textron Inc. has a 12 month low of $57.70 and a 12 month high of $94.57. The stock has a 50-day simple moving average of $70.29 and a 200 day simple moving average of $77.22. The company has a current ratio of 1.76, a quick ratio of 0.84 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $12.36 billion, a PE ratio of 15.79, a P/E/G ratio of 1.18 and a beta of 1.06.

Textron (NYSE:TXT) last announced its quarterly earnings results on Thursday, April 24th. The aerospace company reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates of $1.23 by $0.05. Textron had a net margin of 6.01% and a return on equity of 14.92%. Research analysts forecast that Textron Inc. will post 6.12 EPS for the current year.

Textron Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be given a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.12%. The ex-dividend date of this dividend is Friday, June 13th. Textron’s dividend payout ratio is currently 1.86%.

Insider Buying and Selling

In other Textron news, VP Mark S. Bamford sold 5,451 shares of the 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 completion of the sale, the vice president now directly owns 18,223 shares in the company, valued at $1,324,447.64. This represents a 23.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.70% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on TXT shares. Morgan Stanley dropped their target price on shares of Textron from $82.00 to $71.00 and set an “equal weight” rating for the company in a research note on Friday, April 11th. Bank of America cut shares of Textron from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $110.00 to $85.00 in a research report on Friday, January 24th. Vertical Research upgraded Textron from a “hold” rating to a “buy” rating and set a $91.00 price objective on the stock in a research report on Monday, January 6th. TD Cowen upgraded Textron to a “hold” rating in a research report on Monday, February 24th. Finally, Citigroup decreased their price target on Textron from $111.00 to $107.00 and set a “buy” rating on the stock in a report on Thursday, April 10th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $89.30.

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.