Raymond James Financial Inc. Purchases Shares of 541,915 Textron Inc. (NYSE:TXT)

Raymond James Financial Inc. purchased a new stake in shares of Textron Inc. (NYSE:TXT - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 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.

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

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Insiders Place Their Bets

In other Textron news, VP Mark S. Bamford sold 5,451 shares of Textron stock in a transaction 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 transaction, the vice president now owns 18,223 shares in the company, 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.70% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on TXT shares. Bank of America lowered Textron from a "buy" rating to a "neutral" rating and decreased their price objective for the stock from $110.00 to $85.00 in a report on Friday, January 24th. Robert W. Baird reduced their price target on Textron from $100.00 to $92.00 and set an "outperform" rating for the company in a research report on Thursday, January 23rd. Citigroup dropped their price objective on Textron from $118.00 to $111.00 and set a "buy" rating on the stock in a report on Tuesday, January 21st. Morgan Stanley reduced their target price on Textron from $86.00 to $82.00 and set an "equal weight" rating for the company in a report on Thursday, January 23rd. Finally, TD Cowen upgraded shares of Textron to a "hold" rating in a research report on Monday, February 24th. 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 stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $93.45.

Textron Price Performance

Shares of NYSE TXT traded down $0.69 during mid-day trading on Thursday, reaching $72.03. 1,371,398 shares of the company were exchanged, compared to its average volume of 1,085,188. Textron Inc. has a 52 week low of $70.14 and a 52 week high of $97.34. The company has a quick ratio of 0.84, a current ratio of 1.76 and a debt-to-equity ratio of 0.45. The company's 50 day moving average price is $75.18 and its 200 day moving average price is $81.46. The stock has a market capitalization of $13.08 billion, a PE ratio of 16.71, a PEG ratio of 1.18 and a beta of 1.26.

Textron (NYSE:TXT - Get Free Report) last released its earnings results on Wednesday, January 22nd. The aerospace company reported $1.34 EPS for the quarter, beating the consensus estimate of $1.27 by $0.07. Textron had a net margin of 6.01% and a return on equity of 14.92%. 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 firm earned $1.60 EPS. The firm's quarterly revenue was down 7.2% compared to the same quarter last year. Sell-side analysts forecast that Textron Inc. will post 6.12 earnings per share for the current fiscal year.

Textron Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be issued a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.11%. The ex-dividend date of this dividend is Friday, March 14th. Textron's dividend payout ratio (DPR) is currently 1.86%.

Textron 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.