Altrinsic Global Advisors LLC Invests $5.87 Million in Textron Inc. (NYSE:TXT)

Altrinsic Global Advisors LLC purchased a new stake in shares of Textron Inc. (NYSE:TXT - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 76,758 shares of the aerospace company's stock, valued at approximately $5,871,000.

Other institutional investors have also added to or reduced their stakes in the company. Franklin Resources Inc. increased its position in shares of 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 period. Central Pacific Bank Trust Division grew its stake in shares of Textron by 4.3% in the fourth quarter. Central Pacific Bank Trust Division now owns 24,200 shares of the aerospace company's stock worth $1,851,000 after purchasing an additional 1,000 shares during the last quarter. International Assets Investment Management LLC purchased a new position in Textron during the 4th quarter valued at about $11,523,000. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Textron by 6.2% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 26,147 shares of the aerospace company's stock valued at $2,000,000 after acquiring an additional 1,527 shares in the last quarter. Finally, Czech National Bank raised its holdings in Textron by 5.4% in the 4th quarter. Czech National Bank now owns 40,223 shares of the aerospace company's stock worth $3,077,000 after purchasing an additional 2,056 shares in the last quarter. Hedge funds and other institutional investors own 86.03% of the company's stock.

Insider Buying and Selling

In other news, VP Mark S. Bamford sold 5,451 shares of the business's stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $72.68, for a total transaction of $396,178.68. Following the sale, 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.70% of the stock is currently owned by company insiders.

Textron Stock Up 1.4 %

Shares of NYSE TXT opened at $65.51 on Wednesday. The stock has a market capitalization of $11.90 billion, a price-to-earnings ratio of 15.20, a P/E/G ratio of 1.18 and a beta of 1.06. Textron Inc. has a 12-month low of $57.70 and a 12-month high of $95.86. 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 firm's 50-day moving average price is $70.51 and its 200-day moving average price is $77.42.

Textron (NYSE:TXT - Get Free Report) last issued its quarterly earnings results on Wednesday, January 22nd. The aerospace company reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.07. The firm had revenue of $3.61 billion for 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 revenue for the quarter was down 7.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.60 earnings per share. On average, equities research analysts anticipate that Textron Inc. will post 6.12 EPS for the current fiscal year.

Textron Announces Dividend

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

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on TXT shares. Susquehanna dropped their price target on Textron from $100.00 to $90.00 and set a "positive" rating on the stock in a research report on Wednesday, January 8th. Morgan Stanley cut their price objective on Textron from $82.00 to $71.00 and set an "equal weight" rating for the company in a report on Friday, April 11th. TD Cowen raised Textron to a "hold" rating in a research report on Monday, February 24th. Bank of America downgraded Textron from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $110.00 to $85.00 in a research note on Friday, January 24th. Finally, Citigroup lowered their target price on shares of Textron from $111.00 to $107.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Textron currently has a consensus rating of "Hold" and a consensus price target of $89.30.

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.

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