Textron Inc. (NYSE:TXT) Shares Purchased by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership raised its position in Textron Inc. (NYSE:TXT - Free Report) by 66.1% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 66,314 shares of the aerospace company's stock after buying an additional 26,378 shares during the quarter. Arrowstreet Capital Limited Partnership's holdings in Textron were worth $5,072,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. SBI Securities Co. Ltd. acquired a new position in shares of Textron during the fourth quarter worth about $31,000. Eastern Bank acquired a new position in Textron during the 4th quarter worth approximately $42,000. Golden State Wealth Management LLC purchased a new position in shares of Textron during the 4th quarter worth approximately $63,000. McClarren Financial Advisors Inc. acquired a new stake in shares of Textron in the 4th quarter valued at approximately $68,000. Finally, Geneos Wealth Management Inc. boosted its stake in shares of Textron by 33.0% in the fourth quarter. Geneos Wealth Management Inc. now owns 964 shares of the aerospace company's stock valued at $74,000 after buying an additional 239 shares in the last quarter. Hedge funds and other institutional investors own 86.03% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on TXT shares. Susquehanna reduced 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. Barclays decreased their price objective on shares of Textron from $104.00 to $95.00 and set an "overweight" rating on the stock in a report on Monday, December 23rd. JPMorgan Chase & Co. reduced their price target 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. Vertical Research raised Textron from a "hold" rating to a "buy" rating and set a $91.00 price target on the stock in a research note on Monday, January 6th. Finally, TD Cowen raised Textron to a "hold" rating in a research note on Monday, February 24th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $92.09.

Insider Buying and Selling at Textron

In related 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 value of $396,178.68. Following the sale, the vice president now directly owns 18,223 shares of the company's stock, valued at approximately $1,324,447.64. This trade represents a 23.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.70% of the stock is owned by company insiders.

Textron Trading Up 1.7 %

Shares of NYSE:TXT traded up $1.12 during trading on Friday, reaching $65.64. The stock had a trading volume of 1,258,954 shares, compared to its average volume of 1,184,556. 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 stock has a market cap of $11.92 billion, a P/E ratio of 15.23, a PEG ratio of 1.18 and a beta of 1.06. The business has a fifty day moving average price of $71.70 and a 200-day moving average price of $78.47. Textron Inc. has a fifty-two week low of $57.70 and a fifty-two week high of $95.86.

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, beating the consensus estimate of $1.27 by $0.07. Textron had a return on equity of 14.92% and a net margin of 6.01%. The company had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.78 billion. During the same period in the previous year, the firm posted $1.60 EPS. Textron's revenue was down 7.2% on a year-over-year basis. As a group, analysts anticipate that Textron Inc. will post 6.12 earnings per share for the current fiscal year.

Textron Dividend Announcement

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