Aigen Investment Management LP Invests $617,000 in Textron Inc. (NYSE:TXT)

Aigen Investment Management LP purchased a new position in shares of Textron Inc. (NYSE:TXT - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,065 shares of the aerospace company's stock, valued at approximately $617,000.

A number of other large investors also recently added to or reduced their stakes in TXT. International Assets Investment Management LLC acquired a new position in Textron during the fourth quarter worth $11,523,000. Bank of New York Mellon Corp increased its holdings in Textron by 7.9% in the fourth 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 buying an additional 104,982 shares during the last quarter. National Bank of Canada FI increased its holdings in Textron by 161.8% in the third quarter. National Bank of Canada FI now owns 145,174 shares of the aerospace company's stock valued at $12,860,000 after buying an additional 89,724 shares during the last quarter. Proficio Capital Partners LLC purchased a new position in Textron in the fourth quarter valued at $6,512,000. Finally, Vinva Investment Management Ltd increased its holdings in Textron by 1,757.6% in the third quarter. Vinva Investment Management Ltd now owns 72,446 shares of the aerospace company's stock valued at $6,357,000 after buying an additional 68,546 shares during the last quarter. 86.03% of the stock is currently owned by institutional investors and hedge funds.

Textron Stock Up 2.9 %

Textron stock traded up $2.13 during trading on Friday, reaching $75.50. 2,577,505 shares of the company's stock were exchanged, compared to its average volume of 1,398,059. The company's 50-day moving average is $75.33 and its two-hundred day moving average is $81.73. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.84 and a current ratio of 1.76. Textron Inc. has a 52-week low of $70.14 and a 52-week high of $97.33. The firm has a market cap of $13.71 billion, a price-to-earnings ratio of 17.52, a PEG ratio of 1.18 and a beta of 1.27.

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Textron (NYSE:TXT - Get Free Report) last announced its quarterly earnings results on Wednesday, January 22nd. The aerospace company reported $1.34 earnings per share for the quarter, topping 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 during the quarter, compared to analysts' expectations of $3.78 billion. During the same period in the prior year, the company earned $1.60 EPS. The firm's revenue was down 7.2% on a year-over-year basis. On average, analysts predict that Textron Inc. will post 6.12 earnings per share for the current year.

Textron Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a $0.02 dividend. The ex-dividend date 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 currently 1.86%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on TXT shares. Morgan Stanley dropped their target price on Textron from $86.00 to $82.00 and set an "equal weight" rating on the stock in a report on Thursday, January 23rd. Robert W. Baird dropped their price objective on Textron from $100.00 to $92.00 and set an "outperform" rating on the stock in a report on Thursday, January 23rd. Bank of America lowered Textron from a "buy" rating to a "neutral" rating and lowered their price target for the stock from $110.00 to $85.00 in a report on Friday, January 24th. Vertical Research upgraded shares of Textron from a "hold" rating to a "buy" rating and set a $91.00 price objective for the company in a research report on Monday, January 6th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Textron from $90.00 to $88.00 and set a "neutral" rating for the company in a research report on Thursday, January 16th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Textron presently has a consensus rating of "Moderate Buy" and an average target price of $93.45.

Insider Buying and Selling at Textron

In other Textron news, VP Mark S. Bamford sold 5,451 shares of the company's 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 completion of the transaction, the vice president now directly owns 18,223 shares of the company's stock, valued at $1,324,447.64. This represents a 23.03 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.70% of the stock is currently owned by corporate insiders.

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.