Canada Pension Plan Investment Board Has $6.92 Million Stock Holdings in Textron Inc. (NYSE:TXT)

Canada Pension Plan Investment Board trimmed its holdings in shares of Textron Inc. (NYSE:TXT - Free Report) by 48.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 90,477 shares of the aerospace company's stock after selling 84,491 shares during the period. Canada Pension Plan Investment Board's holdings in Textron were worth $6,921,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in TXT. Franklin Resources Inc. boosted its stake in shares of Textron by 10.3% during the 3rd quarter. Franklin Resources Inc. now owns 164,029 shares of the aerospace company's stock worth $14,505,000 after acquiring an additional 15,294 shares in the last quarter. Central Pacific Bank Trust Division boosted its position in shares of Textron by 4.3% in the 4th quarter. Central Pacific Bank Trust Division now owns 24,200 shares of the aerospace company's stock valued at $1,851,000 after purchasing an additional 1,000 shares during the period. International Assets Investment Management LLC purchased a new position in Textron in the 4th quarter worth about $11,523,000. Wealth Enhancement Advisory Services LLC raised its holdings in Textron by 6.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 26,147 shares of the aerospace company's stock worth $2,000,000 after buying an additional 1,527 shares during the period. Finally, Czech National Bank lifted its stake in Textron by 5.4% during the fourth quarter. Czech National Bank now owns 40,223 shares of the aerospace company's stock valued at $3,077,000 after buying an additional 2,056 shares in the last quarter. Institutional investors and hedge funds own 86.03% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on TXT shares. JPMorgan Chase & Co. dropped their target price on shares of Textron from $90.00 to $88.00 and set a "neutral" rating on the stock in a research report on Thursday, January 16th. Citigroup lowered their price objective on shares of Textron from $111.00 to $107.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Morgan Stanley reduced their target price on Textron from $82.00 to $71.00 and set an "equal weight" rating for the company in a report on Friday, April 11th. Susquehanna decreased their target price on Textron from $100.00 to $90.00 and set a "positive" rating for the company in a research report on Wednesday, January 8th. Finally, 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 report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $89.30.

Insider Activity at Textron

In other Textron news, VP Mark S. Bamford sold 5,451 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $72.68, for a total transaction of $396,178.68. Following the transaction, the vice president now directly owns 18,223 shares of the company's stock, valued at $1,324,447.64. This represents a 23.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.70% of the stock is owned by company insiders.

Textron Stock Up 1.0 %

NYSE TXT traded up $0.66 on Friday, reaching $68.59. The stock had a trading volume of 1,697,977 shares, compared to its average volume of 1,204,465. 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 Inc. has a 1 year low of $57.70 and a 1 year high of $94.57. The business has a 50 day moving average price of $70.29 and a 200 day moving average price of $77.22. The company has a market capitalization of $12.46 billion, a price-to-earnings ratio of 15.91, a P/E/G ratio of 1.18 and a beta of 1.06.

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

Textron Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be issued a dividend of $0.02 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.12%. Textron's dividend payout ratio is currently 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.