Bank of New York Mellon Corp Has $109.26 Million Stock Holdings in Textron Inc. (NYSE:TXT)

Bank of New York Mellon Corp boosted its stake in Textron Inc. (NYSE:TXT - Free Report) by 7.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,428,377 shares of the aerospace company's stock after buying an additional 104,982 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.77% of Textron worth $109,257,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of TXT. Merit Financial Group LLC boosted its stake in shares of Textron by 5.9% in the 4th quarter. Merit Financial Group LLC now owns 4,784 shares of the aerospace company's stock valued at $366,000 after purchasing an additional 265 shares in the last quarter. Empowered Funds LLC boosted its position in Textron by 28.6% in the fourth quarter. Empowered Funds LLC now owns 20,132 shares of the aerospace company's stock valued at $1,540,000 after buying an additional 4,480 shares in the last quarter. Franklin Resources Inc. grew its stake in Textron by 10.3% during the third quarter. Franklin Resources Inc. now owns 164,029 shares of the aerospace company's stock worth $14,505,000 after buying an additional 15,294 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Textron by 44.6% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,390 shares of the aerospace company's stock worth $1,343,000 after buying an additional 5,367 shares in the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund raised its stake in shares of Textron by 79.5% in the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 9,956 shares of the aerospace company's stock valued at $762,000 after acquiring an additional 4,409 shares during the last quarter. 86.03% of the stock is currently owned by institutional investors.

Textron Trading Up 3.2 %

TXT traded up $2.28 during trading on Wednesday, reaching $72.47. 1,881,618 shares of the company's stock were exchanged, compared to its average volume of 1,360,245. The company's fifty day moving average price is $75.54 and its 200-day moving average price is $82.04. The firm has a market capitalization of $13.23 billion, a PE ratio of 16.81, a P/E/G ratio of 1.18 and a beta of 1.27. Textron Inc. has a fifty-two week low of $70.14 and a fifty-two week high of $97.33. 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 (NYSE:TXT - Get Free Report) last released its quarterly earnings data on Wednesday, January 22nd. The aerospace company reported $1.34 EPS for the quarter, beating 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 was down 7.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.60 earnings per share. As a group, equities analysts forecast that Textron Inc. will post 6.12 EPS for the current year.

Textron Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be paid a dividend of $0.02 per share. 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 payout ratio is presently 1.86%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. JPMorgan Chase & Co. dropped their price target on Textron from $90.00 to $88.00 and set a "neutral" rating for the company in a report on Thursday, January 16th. TD Cowen raised Textron to a "hold" rating in a report on Monday, February 24th. Citigroup decreased their price objective on shares of Textron from $118.00 to $111.00 and set a "buy" rating on the stock in a report on Tuesday, January 21st. 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, Robert W. Baird decreased their price target on shares of Textron from $100.00 to $92.00 and set an "outperform" rating on the stock in a research note on Thursday, January 23rd. One 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. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $93.45.

Insider Transactions at Textron

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 value of $396,178.68. Following the sale, the vice president now directly owns 18,223 shares in the company, valued at $1,324,447.64. The trade was a 23.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 1.70% of the stock is currently owned by insiders.

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.