Graham Capital Management L.P. boosted its position in shares of Textron Inc. (NYSE:TXT - Free Report) by 166.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 67,000 shares of the aerospace company's stock after acquiring an additional 41,888 shares during the period. Graham Capital Management L.P.'s holdings in Textron were worth $5,125,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Balyasny Asset Management L.P. boosted its holdings in shares of Textron by 6,785.9% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,236,441 shares of the aerospace company's stock worth $94,575,000 after acquiring an additional 1,218,485 shares in the last quarter. Invesco Ltd. raised 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 worth $591,523,000 after purchasing an additional 1,167,105 shares during the last quarter. Raymond James Financial Inc. bought a new position in Textron in the 4th quarter worth approximately $41,451,000. D. E. Shaw & Co. Inc. raised its position in Textron by 97.9% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,031,144 shares of the aerospace company's stock worth $78,872,000 after purchasing an additional 510,085 shares during the last quarter. Finally, Boston Partners raised its position in Textron by 4.7% in the 4th quarter. Boston Partners now owns 7,483,692 shares of the aerospace company's stock worth $572,465,000 after purchasing an additional 333,127 shares during the last quarter. 86.03% of the stock is currently owned by institutional investors.
Insider Transactions at Textron
In related news, VP Mark S. Bamford sold 5,451 shares of the firm's 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 sale, the vice president now owns 18,223 shares of the company's stock, valued at $1,324,447.64. This trade represents a 23.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.70% of the stock is owned by corporate insiders.
Wall Street Analyst Weigh In
Several brokerages have commented on TXT. 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 report on Friday, April 11th. UBS Group upped their target price on shares of Textron from $62.00 to $63.00 and gave the company a "sell" rating in a research report on Monday, April 28th. TD Cowen upgraded shares of Textron to a "hold" rating in a research report on Monday, February 24th. Citigroup dropped their target price on shares of Textron from $111.00 to $107.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. Finally, Bank of America cut shares of Textron from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $110.00 to $85.00 in a research report on Friday, January 24th. One analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Textron presently has a consensus rating of "Hold" and an average price target of $87.70.
Check Out Our Latest Stock Analysis on TXT
Textron Trading Up 1.0%
Shares of TXT traded up $0.72 during mid-day trading on Thursday, reaching $75.93. 869,406 shares of the company were exchanged, compared to its average volume of 1,209,393. Textron Inc. has a 52 week low of $57.70 and a 52 week high of $94.57. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.84 and a current ratio of 1.76. The stock has a market capitalization of $13.71 billion, a PE ratio of 17.62, a PEG ratio of 1.18 and a beta of 1.20. The business has a 50 day simple moving average of $69.92 and a two-hundred day simple moving average of $75.74.
Textron (NYSE:TXT - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The aerospace company reported $1.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.17 by $0.11. Textron had a return on equity of 14.92% and a net margin of 6.01%. The company had revenue of $3.31 billion during the quarter, compared to the consensus estimate of $3.26 billion. During the same period last year, the company earned $1.20 earnings per share. The firm's revenue was up 5.5% compared to the same quarter last year. On average, analysts predict 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 given a dividend of $0.02 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.11%. Textron's dividend payout ratio (DPR) is 1.81%.
Textron Profile
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Free Report)
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.
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