AustralianSuper Pty Ltd Acquires 48,147 Shares of Textron Inc. (NYSE:TXT)

AustralianSuper Pty Ltd boosted its stake in Textron Inc. (NYSE:TXT - Free Report) by 56.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 132,921 shares of the aerospace company's stock after purchasing an additional 48,147 shares during the quarter. AustralianSuper Pty Ltd owned about 0.07% of Textron worth $10,167,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Empirical Finance LLC boosted its stake in Textron by 1.7% in the third quarter. Empirical Finance LLC now owns 7,047 shares of the aerospace company's stock valued at $624,000 after buying an additional 115 shares in the last quarter. Apollon Wealth Management LLC grew its stake in shares of Textron by 4.9% during the third quarter. Apollon Wealth Management LLC now owns 2,655 shares of the aerospace company's stock worth $235,000 after buying an additional 125 shares during the last quarter. Pflug Koory LLC increased its holdings in shares of Textron by 0.9% during the fourth quarter. Pflug Koory LLC now owns 13,778 shares of the aerospace company's stock worth $1,054,000 after buying an additional 125 shares in the last quarter. V Square Quantitative Management LLC increased its holdings in shares of Textron by 5.7% during the fourth quarter. V Square Quantitative Management LLC now owns 2,611 shares of the aerospace company's stock worth $200,000 after buying an additional 141 shares in the last quarter. Finally, Patriot Financial Group Insurance Agency LLC lifted its stake in shares of Textron by 5.8% in the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 2,977 shares of the aerospace company's stock valued at $228,000 after acquiring an additional 163 shares during the last quarter. Institutional investors and hedge funds own 86.03% of the company's stock.

Textron Trading Up 0.2 %

Textron stock traded up $0.18 during trading hours on Wednesday, reaching $72.62. 1,243,150 shares of the company's stock were exchanged, compared to its average volume of 1,354,239. The firm's 50 day simple moving average is $76.55 and its 200 day simple moving average is $82.86. Textron Inc. has a twelve month low of $71.94 and a twelve month high of $97.33. 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 firm has a market capitalization of $13.26 billion, a PE ratio of 16.85, a PEG ratio of 1.18 and a beta of 1.27.

Textron (NYSE:TXT - Get Free Report) last issued its 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. The business had revenue of $3.61 billion during 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 firm's revenue for the quarter was down 7.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.60 earnings per share. Research analysts predict that Textron Inc. will post 6.11 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Vertical Research raised Textron from a "hold" rating to a "buy" rating and set a $91.00 target price for the company in a report on Monday, January 6th. UBS Group lowered their price objective on Textron from $87.00 to $79.00 and set a "sell" rating for the company in a research note on Friday, October 25th. Morgan Stanley cut their target price on shares of Textron from $86.00 to $82.00 and set an "equal weight" rating on the stock in a research report on Thursday, January 23rd. TD Cowen upgraded shares of Textron to a "hold" rating in a research report on Thursday, December 19th. Finally, Bank of America downgraded shares of Textron from a "buy" rating to a "neutral" rating and dropped their price target for the company from $110.00 to $85.00 in a research note on Friday, January 24th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Textron currently has a consensus rating of "Moderate Buy" and an average price target of $93.45.

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.