Raymond James Financial Inc. Makes New $41.45 Million Investment in Textron Inc. (NYSE:TXT)

Raymond James Financial Inc. acquired a new position in shares of Textron Inc. (NYSE:TXT - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 541,915 shares of the aerospace company's stock, valued at approximately $41,451,000. Raymond James Financial Inc. owned about 0.29% of Textron at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Pflug Koory LLC raised its stake in shares of 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 acquiring an additional 125 shares during the period. V Square Quantitative Management LLC raised its position in Textron by 5.7% in the fourth 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 lifted its stake in 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 in the last quarter. Motley Fool Asset Management LLC boosted its position in shares of Textron by 6.3% during the fourth quarter. Motley Fool Asset Management LLC now owns 2,732 shares of the aerospace company's stock worth $209,000 after buying an additional 163 shares during the period. Finally, Foundations Investment Advisors LLC grew its stake in shares of Textron by 4.1% in the fourth quarter. Foundations Investment Advisors LLC now owns 4,272 shares of the aerospace company's stock valued at $327,000 after buying an additional 169 shares in the last quarter. 86.03% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, VP Mark S. Bamford sold 5,451 shares of the firm's stock in a transaction that occurred 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 transaction, the vice president now directly owns 18,223 shares in the company, valued at approximately $1,324,447.64. This trade represents 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. 1.70% of the stock is currently owned by corporate insiders.

Textron Stock Down 2.0 %

TXT stock traded down $1.35 during trading on Monday, hitting $64.69. 53,361 shares of the company's stock were exchanged, compared to its average volume of 1,184,679. The business has a 50-day moving average price of $70.82 and a two-hundred day moving average price of $77.66. 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 market capitalization of $11.75 billion, a price-to-earnings ratio of 15.04, a PEG ratio of 1.18 and a beta of 1.06. Textron Inc. has a 52-week low of $57.70 and a 52-week high of $95.86.

Textron (NYSE:TXT - Get Free Report) last posted its earnings results on Wednesday, January 22nd. The aerospace company reported $1.34 EPS for the quarter, beating analysts' consensus estimates of $1.27 by $0.07. Textron had a net margin of 6.01% and a return on equity of 14.92%. The firm had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $3.78 billion. During the same period last year, the firm posted $1.60 EPS. The company's revenue was down 7.2% on a year-over-year basis. As a group, equities research analysts expect that Textron Inc. will post 6.12 EPS for the current year.

Textron Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Susquehanna lowered their target price on Textron from $100.00 to $90.00 and set a "positive" rating for the company in a report on Wednesday, January 8th. Morgan Stanley lowered their price objective on shares of Textron from $82.00 to $71.00 and set an "equal weight" rating for the company in a research note on Friday, April 11th. Citigroup cut their target price on shares of Textron from $111.00 to $107.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th. Robert W. Baird decreased their price target 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, Bank of America lowered Textron from a "buy" rating to a "neutral" rating and cut their price objective for the stock from $110.00 to $85.00 in a research report on Friday, January 24th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $89.30.

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.