Brandes Investment Partners LP Purchases 302,712 Shares of Textron Inc. (NYSE:TXT)

Brandes Investment Partners LP lifted its stake in shares of Textron Inc. (NYSE:TXT - Free Report) by 19.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,859,703 shares of the aerospace company's stock after acquiring an additional 302,712 shares during the period. Textron makes up about 1.6% of Brandes Investment Partners LP's investment portfolio, making the stock its 19th largest holding. Brandes Investment Partners LP owned about 1.00% of Textron worth $142,249,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in TXT. Atria Investments Inc grew its position in Textron by 2.5% in the third quarter. Atria Investments Inc now owns 12,282 shares of the aerospace company's stock valued at $1,088,000 after purchasing an additional 299 shares in the last quarter. Venturi Wealth Management LLC grew its position in Textron by 69.5% in the third quarter. Venturi Wealth Management LLC now owns 566 shares of the aerospace company's stock valued at $50,000 after purchasing an additional 232 shares in the last quarter. Apollon Wealth Management LLC grew its position in Textron by 4.9% in the third quarter. Apollon Wealth Management LLC now owns 2,655 shares of the aerospace company's stock valued at $235,000 after purchasing an additional 125 shares in the last quarter. GSA Capital Partners LLP grew its position in Textron by 144.3% in the third quarter. GSA Capital Partners LLP now owns 13,862 shares of the aerospace company's stock valued at $1,228,000 after purchasing an additional 8,188 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its position in Textron by 0.9% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 471,039 shares of the aerospace company's stock valued at $41,725,000 after purchasing an additional 4,327 shares in the last quarter. Institutional investors own 86.03% of the company's stock.

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Textron Stock Performance

Shares of NYSE TXT traded up $0.25 during mid-day trading on Wednesday, reaching $74.50. 1,827,759 shares of the company were exchanged, compared to its average volume of 1,083,472. The company's 50-day simple moving average is $75.02 and its 200-day simple moving average is $80.93. 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 capitalization of $13.53 billion, a P/E ratio of 17.29, a P/E/G ratio of 1.18 and a beta of 1.27. Textron Inc. has a twelve month low of $70.14 and a twelve month high of $97.34.

Textron (NYSE:TXT - Get Free Report) last issued its quarterly earnings data 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. Textron had a net margin of 6.01% and a return on equity of 14.92%. The business had revenue of $3.61 billion during the quarter, compared to analysts' expectations of $3.78 billion. During the same quarter in the previous year, the company earned $1.60 EPS. The business's revenue was down 7.2% on a year-over-year basis. As a group, research analysts predict that Textron Inc. will post 6.12 earnings per share for the current year.

Textron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.11%. The ex-dividend date is Friday, March 14th. Textron's dividend payout ratio (DPR) is 1.86%.

Insiders Place Their Bets

In other Textron news, VP Mark S. Bamford sold 5,451 shares of Textron 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 sale, the vice president now owns 18,223 shares in the company, valued at $1,324,447.64. The trade was a 23.03 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.70% of the company's stock.

Wall Street Analysts Forecast Growth

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

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.