Textron Inc. (NYSE:TXT) Shares Acquired by Brandywine Global Investment Management LLC

Brandywine Global Investment Management LLC lifted its stake in shares of Textron Inc. (NYSE:TXT) by 21.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 274,729 shares of the aerospace company’s stock after acquiring an additional 47,879 shares during the period. Brandywine Global Investment Management LLC owned 0.15% of Textron worth $21,014,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the company. Merit Financial Group LLC boosted its holdings in Textron by 5.9% in the 4th quarter. Merit Financial Group LLC now owns 4,784 shares of the aerospace company’s stock valued at $366,000 after purchasing an additional 265 shares during the last quarter. Empowered Funds LLC raised its position in shares of Textron by 28.6% during the 4th quarter. Empowered Funds LLC now owns 20,132 shares of the aerospace company’s stock valued at $1,540,000 after buying an additional 4,480 shares during the period. Franklin Resources Inc. lifted its holdings in Textron by 10.3% in the third quarter. Franklin Resources Inc. now owns 164,029 shares of the aerospace company’s stock valued at $14,505,000 after acquiring an additional 15,294 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in Textron by 44.6% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,390 shares of the aerospace company’s stock worth $1,343,000 after acquiring an additional 5,367 shares during the period. Finally, Todd Asset Management LLC increased its stake in Textron by 1.8% during the fourth quarter. Todd Asset Management LLC now owns 470,292 shares of the aerospace company’s stock worth $35,973,000 after acquiring an additional 8,198 shares during the last quarter. Hedge funds and other institutional investors own 86.03% of the company’s stock.

Textron Stock Down 3.1 %

Shares of NYSE TXT opened at $72.92 on Monday. The stock has a market cap of $13.24 billion, a P/E ratio of 16.92, a PEG ratio of 1.18 and a beta of 1.27. The business’s fifty day simple moving average is $74.49 and its 200-day simple moving average is $80.17. Textron Inc. has a 12-month low of $70.14 and a 12-month 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.

Textron (NYSE:TXT) last posted its quarterly earnings results 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. Textron had a return on equity of 14.92% and a net margin of 6.01%. The company had revenue of $3.61 billion for the quarter, compared to analyst estimates of $3.78 billion. During the same quarter last year, the company earned $1.60 EPS. Textron’s revenue for the quarter was down 7.2% compared to the same quarter last year. As a group, equities analysts predict that Textron Inc. will post 6.12 EPS for the current fiscal year.

Textron Dividend Announcement

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

Insider Transactions at Textron

In other Textron news, VP Mark S. Bamford sold 5,451 shares of the firm’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $72.68, for a total value of $396,178.68. Following the sale, 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 this hyperlink. Corporate insiders own 1.70% of the company’s stock.

Analyst Upgrades and Downgrades

TXT has been the topic of several recent analyst reports. Barclays decreased their price target on Textron from $104.00 to $95.00 and set an “overweight” rating on the stock in a research note on Monday, December 23rd. TD Cowen raised shares of Textron to a “hold” rating in a research note on Monday, February 24th. Citigroup reduced their price target on shares of Textron from $118.00 to $111.00 and set a “buy” rating on the stock in a research note on Tuesday, January 21st. Robert W. Baird lowered their price objective on shares of Textron from $100.00 to $92.00 and set an “outperform” rating for the company in a research report on Thursday, January 23rd. Finally, JPMorgan Chase & Co. cut their target price on Textron from $90.00 to $88.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $93.45.

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.