Textron Inc. (NYSE:TXT) Shares Bought by Axa S.A.

Axa S.A. grew its stake in Textron Inc. (NYSE:TXT) by 48.8% in the fourth quarter, Holdings Channel reports. The fund owned 81,482 shares of the aerospace company’s stock after purchasing an additional 26,716 shares during the period. Axa S.A.’s holdings in Textron were worth $6,233,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Invesco Ltd. grew its holdings in shares of Textron by 17.8% in the fourth 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 period. Boston Partners increased its holdings in shares of Textron by 4.7% during the 4th quarter. Boston Partners now owns 7,483,692 shares of the aerospace company’s stock worth $572,465,000 after buying an additional 333,127 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Textron by 3.7% during the 4th quarter. Geode Capital Management LLC now owns 4,595,861 shares of the aerospace company’s stock valued at $350,619,000 after buying an additional 164,964 shares during the period. Brandes Investment Partners LP lifted its holdings in Textron by 19.4% in the fourth quarter. Brandes Investment Partners LP now owns 1,859,703 shares of the aerospace company’s stock valued at $142,249,000 after acquiring an additional 302,712 shares during the last quarter. Finally, Northern Trust Corp grew its position in Textron by 9.4% in the fourth quarter. Northern Trust Corp now owns 1,803,778 shares of the aerospace company’s stock worth $137,971,000 after acquiring an additional 155,384 shares during the period. Hedge funds and other institutional investors own 86.03% of the company’s stock.

Insider Transactions at Textron

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

Textron Price Performance

Shares of TXT opened at $69.62 on Wednesday. The company has a market cap of $12.57 billion, a P/E ratio of 16.15, a PEG ratio of 1.18 and a beta of 1.20. Textron Inc. has a fifty-two week low of $57.70 and a fifty-two week high of $94.57. 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 firm’s 50 day moving average price is $69.86 and its 200 day moving average price is $76.16.

Textron (NYSE:TXT) last posted its quarterly earnings data on Thursday, April 24th. The aerospace company reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $1.17 by $0.11. The business had revenue of $3.31 billion for the quarter, compared to analyst estimates of $3.26 billion. Textron had a return on equity of 14.92% and a net margin of 6.01%. The company’s revenue was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.20 earnings per share. On average, research analysts forecast that Textron Inc. will post 6.12 earnings per share for the current fiscal year.

Textron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be paid a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.11%. The ex-dividend date of this dividend is Friday, June 13th. Textron’s payout ratio is presently 1.81%.

Analyst Ratings Changes

A number of research firms have commented on TXT. Morgan Stanley reduced their target price on Textron from $82.00 to $71.00 and set an “equal weight” rating on the stock in a research report on Friday, April 11th. Robert W. Baird decreased their target price on shares of Textron from $100.00 to $92.00 and set an “outperform” rating on the stock in a research report on Thursday, January 23rd. JPMorgan Chase & Co. dropped 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. TD Cowen raised shares of Textron to a “hold” rating in a research note on Monday, February 24th. Finally, Susquehanna lowered their price objective on shares of Textron from $100.00 to $90.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $87.70.

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.