Textron Inc. (NYSE:TXT) Shares Bought by First Trust Advisors LP

First Trust Advisors LP grew its stake in Textron Inc. (NYSE:TXT) by 11.3% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 412,396 shares of the aerospace company’s stock after purchasing an additional 41,716 shares during the period. First Trust Advisors LP’s holdings in Textron were worth $31,544,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. SBI Securities Co. Ltd. acquired a new position in Textron in the fourth quarter valued at $31,000. Eastern Bank purchased a new position in Textron during the 4th quarter worth approximately $42,000. Golden State Wealth Management LLC acquired a new position in Textron during the fourth quarter worth approximately $63,000. McClarren Financial Advisors Inc. purchased a new stake in Textron in the fourth quarter valued at approximately $68,000. Finally, Geneos Wealth Management Inc. boosted its holdings in shares of Textron by 33.0% in the fourth quarter. Geneos Wealth Management Inc. now owns 964 shares of the aerospace company’s stock valued at $74,000 after acquiring an additional 239 shares during the period. 86.03% of the stock is owned by hedge funds and other institutional investors.

Textron Trading Up 2.8 %

Shares of TXT opened at $68.07 on Friday. The firm’s 50-day moving average is $70.29 and its two-hundred day moving average is $77.22. Textron Inc. has a twelve month low of $57.70 and a twelve month high of $94.57. 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 firm has a market capitalization of $12.36 billion, a P/E ratio of 15.79, a PEG ratio of 1.18 and a beta of 1.06.

Textron (NYSE:TXT) last released its quarterly earnings data on Thursday, April 24th. The aerospace company reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.23 by $0.05. Textron had a return on equity of 14.92% and a net margin of 6.01%. On average, research analysts predict that Textron Inc. will post 6.12 earnings per share for the current fiscal year.

Textron Announces Dividend

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

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. JPMorgan Chase & Co. reduced their price target on shares of Textron from $90.00 to $88.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Vertical Research upgraded shares of Textron from a “hold” rating to a “buy” rating and set a $91.00 target price for the company in a research note on Monday, January 6th. Bank of America cut Textron from a “buy” rating to a “neutral” rating and dropped their price target for the company from $110.00 to $85.00 in a research report on Friday, January 24th. Citigroup lowered their target price on Textron from $111.00 to $107.00 and set a “buy” rating on the stock in a research note on Thursday, April 10th. Finally, Robert W. Baird cut 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. One 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. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $89.30.

Insider Buying and Selling at Textron

In related news, VP Mark S. Bamford sold 5,451 shares of Textron 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 position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.70% of the company’s stock.

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.