Textron Inc. (NYSE:TXT) Shares Acquired by Boston Partners

Boston Partners grew its position in shares of Textron Inc. (NYSE:TXT) by 4.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 7,483,692 shares of the aerospace company’s stock after purchasing an additional 333,127 shares during the quarter. Boston Partners’ holdings in Textron were worth $572,465,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of TXT. Raymond James Financial Inc. acquired a new position in shares of Textron during the 4th quarter valued at $41,451,000. Brandes Investment Partners LP increased its position in shares of Textron by 19.4% during the 4th quarter. Brandes Investment Partners LP now owns 1,859,703 shares of the aerospace company’s stock valued at $142,249,000 after purchasing an additional 302,712 shares during the period. International Assets Investment Management LLC acquired a new position in shares of Textron during the 4th quarter valued at $11,523,000. Wealthfront Advisers LLC increased its position in shares of Textron by 384.7% during the 4th quarter. Wealthfront Advisers LLC now owns 175,347 shares of the aerospace company’s stock valued at $13,412,000 after purchasing an additional 139,173 shares during the period. Finally, Bank of New York Mellon Corp increased its position in shares of Textron by 7.9% during the 4th quarter. Bank of New York Mellon Corp now owns 1,428,377 shares of the aerospace company’s stock valued at $109,257,000 after purchasing an additional 104,982 shares during the period. 86.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Textron

In other Textron news, VP Mark S. Bamford sold 5,451 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $72.68, for a total transaction of $396,178.68. Following the transaction, the vice president now directly owns 18,223 shares in the company, 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 filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.70% of the company’s stock.

Textron Price Performance

TXT opened at $74.64 on Tuesday. The stock has a market cap of $13.56 billion, a price-to-earnings ratio of 17.32, a PEG ratio of 1.18 and a beta of 1.27. Textron Inc. has a 1 year low of $70.14 and a 1 year high of $97.34. 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 stock has a fifty day moving average price of $75.04 and a 200 day moving average price of $81.05.

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

Textron Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be given a dividend of $0.02 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.08 dividend on an annualized basis and a yield of 0.11%. Textron’s payout ratio is 1.86%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on TXT. JPMorgan Chase & Co. lowered their price target on Textron from $90.00 to $88.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Susquehanna reduced their price objective on Textron from $100.00 to $90.00 and set a “positive” rating for the company in a research note on Wednesday, January 8th. Barclays reduced their price objective on Textron from $104.00 to $95.00 and set an “overweight” rating for the company in a research note on Monday, December 23rd. Robert W. Baird reduced their price objective 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, Vertical Research raised Textron from a “hold” rating to a “buy” rating and set a $91.00 price objective for the company in a research note on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $93.45.

About Textron

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.