CANADA LIFE ASSURANCE Co Has $5.46 Million Holdings in Textron Inc. (NYSE:TXT)

CANADA LIFE ASSURANCE Co trimmed its holdings in shares of Textron Inc. (NYSE:TXT - Free Report) by 5.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 71,406 shares of the aerospace company's stock after selling 4,477 shares during the period. CANADA LIFE ASSURANCE Co's holdings in Textron were worth $5,456,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Franklin Resources Inc. boosted its position in Textron by 10.3% during the 3rd quarter. Franklin Resources Inc. now owns 164,029 shares of the aerospace company's stock valued at $14,505,000 after purchasing an additional 15,294 shares during the period. Central Pacific Bank Trust Division boosted its holdings in shares of Textron by 4.3% during the fourth quarter. Central Pacific Bank Trust Division now owns 24,200 shares of the aerospace company's stock valued at $1,851,000 after acquiring an additional 1,000 shares during the period. International Assets Investment Management LLC acquired a new position in shares of Textron during the fourth quarter valued at $11,523,000. Wealth Enhancement Advisory Services LLC grew its position 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 worth $2,000,000 after acquiring an additional 1,527 shares during the last quarter. Finally, Czech National Bank increased its holdings in shares of 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 acquiring an additional 2,056 shares during the period. 86.03% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Textron

In related news, VP Mark S. Bamford sold 5,451 shares of Textron stock in a transaction on Monday, February 24th. The stock was sold at an average price of $72.68, for a total value of $396,178.68. Following the transaction, 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 position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.70% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have commented on TXT. Citigroup decreased their target price on shares of Textron from $111.00 to $107.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. Robert W. Baird decreased their price objective on Textron from $100.00 to $92.00 and set an "outperform" rating for the company in a report on Thursday, January 23rd. Susquehanna cut their target price on Textron from $100.00 to $90.00 and set a "positive" rating on the stock in a research note on Wednesday, January 8th. JPMorgan Chase & Co. reduced their price target on Textron from $90.00 to $88.00 and set a "neutral" rating for the company in a research report on Thursday, January 16th. Finally, TD Cowen raised Textron to a "hold" rating in a report on Monday, February 24th. One equities research 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. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $89.30.

Textron Price Performance

TXT stock traded up $0.66 during trading hours on Friday, hitting $68.59. 1,697,977 shares of the stock traded hands, compared to its average volume of 1,182,751. The stock has a 50-day simple moving average of $70.22 and a 200 day simple moving average of $77.04. The company has a market cap of $12.46 billion, a P/E ratio of 15.91, a P/E/G ratio of 1.18 and a beta of 1.06. Textron Inc. has a one year low of $57.70 and a one year high of $94.57. The company has a current ratio of 1.76, a quick ratio of 0.84 and a debt-to-equity ratio of 0.45.

Textron (NYSE:TXT - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The aerospace company reported $1.28 earnings per share for the quarter, beating analysts' consensus estimates of $1.17 by $0.11. The company had revenue of $3.31 billion during the quarter, compared to the consensus estimate of $3.26 billion. Textron had a net margin of 6.01% and a return on equity of 14.92%. Equities analysts forecast that Textron Inc. will post 6.12 earnings per share for the current year.

Textron Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be given a $0.02 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.08 annualized dividend and a yield of 0.12%. Textron's dividend payout ratio (DPR) is 1.81%.

About Textron

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.