Resona Asset Management Co. Ltd. Invests $4.13 Million in Textron Inc. (NYSE:TXT)

Resona Asset Management Co. Ltd. acquired a new position in shares of Textron Inc. (NYSE:TXT - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 53,914 shares of the aerospace company's stock, valued at approximately $4,129,000.

Several other institutional investors and hedge funds also recently made changes to their positions in TXT. Pflug Koory LLC boosted its stake in Textron by 0.9% in the 4th quarter. Pflug Koory LLC now owns 13,778 shares of the aerospace company's stock valued at $1,054,000 after purchasing an additional 125 shares during the period. V Square Quantitative Management LLC boosted its holdings in Textron by 5.7% in the 4th quarter. V Square Quantitative Management LLC now owns 2,611 shares of the aerospace company's stock valued at $200,000 after purchasing an additional 141 shares during the period. Patriot Financial Group Insurance Agency LLC increased its holdings in shares of Textron by 5.8% during the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 2,977 shares of the aerospace company's stock worth $228,000 after purchasing an additional 163 shares during the period. Motley Fool Asset Management LLC boosted its stake in shares of Textron by 6.3% in the fourth quarter. Motley Fool Asset Management LLC now owns 2,732 shares of the aerospace company's stock valued at $209,000 after buying an additional 163 shares during the period. Finally, Foundations Investment Advisors LLC increased its stake in Textron by 4.1% during the 4th quarter. Foundations Investment Advisors LLC now owns 4,272 shares of the aerospace company's stock worth $327,000 after acquiring an additional 169 shares during the period. Institutional investors and hedge funds own 86.03% of the company's stock.

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Textron Stock Up 0.3 %

Shares of NYSE TXT traded up $0.22 during midday trading on Monday, hitting $65.90. 203,246 shares of the stock traded hands, compared to its average volume of 1,181,761. Textron Inc. has a one year low of $57.70 and a one year high of $95.86. The business has a 50 day moving average price of $71.70 and a two-hundred day moving average price of $78.41. 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 company has a market cap of $11.97 billion, a PE ratio of 15.29, a P/E/G ratio of 1.18 and a beta of 1.06.

Textron (NYSE:TXT - Get Free Report) last issued its quarterly earnings data on Wednesday, January 22nd. The aerospace company reported $1.34 EPS for the quarter, topping the consensus estimate of $1.27 by $0.07. The firm had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.78 billion. Textron had a return on equity of 14.92% and a net margin of 6.01%. The company's quarterly revenue was down 7.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.60 earnings per share. On average, equities analysts predict that Textron Inc. will post 6.12 EPS for the current year.

Textron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were issued a dividend of $0.02 per share. The ex-dividend date was Friday, March 14th. This represents a $0.08 dividend on an annualized basis and a yield of 0.12%. Textron's dividend payout ratio (DPR) is currently 1.86%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on TXT shares. Vertical Research raised shares of Textron from a "hold" rating to a "buy" rating and set a $91.00 target price on the stock in a report on Monday, January 6th. Bank of America cut Textron from a "buy" rating to a "neutral" rating and decreased their target price for the company from $110.00 to $85.00 in a research report on Friday, January 24th. Citigroup decreased their price target on shares of Textron from $111.00 to $107.00 and set a "buy" rating on the stock in a report on Thursday. 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 note on Thursday, January 23rd. Finally, Morgan Stanley reduced their price objective on Textron from $82.00 to $71.00 and set an "equal weight" rating on the stock in a research report on Friday. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $92.09.

Insiders Place Their Bets

In other Textron news, VP Mark S. Bamford sold 5,451 shares of Textron stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $72.68, for a total value of $396,178.68. Following the sale, the vice president now 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.70% of the company's stock.

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.