Candriam S.C.A. Makes New $472,000 Investment in Textron Inc. (NYSE:TXT)

Candriam S.C.A. bought a new stake in shares of Textron Inc. (NYSE:TXT - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 6,171 shares of the aerospace company's stock, valued at approximately $472,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Charles Schwab Investment Management Inc. increased its stake in shares of Textron by 0.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,678,854 shares of the aerospace company's stock worth $128,416,000 after acquiring an additional 7,610 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Textron by 7.9% during the fourth quarter. Bank of New York Mellon Corp now owns 1,428,377 shares of the aerospace company's stock valued at $109,257,000 after purchasing an additional 104,982 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Textron in the fourth quarter worth $41,451,000. Robeco Institutional Asset Management B.V. raised its holdings in Textron by 3.3% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 511,770 shares of the aerospace company's stock worth $39,145,000 after acquiring an additional 16,359 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its stake in Textron by 0.9% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 475,420 shares of the aerospace company's stock valued at $36,365,000 after acquiring an additional 4,381 shares during the period. Hedge funds and other institutional investors own 86.03% of the company's stock.

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Insider Activity

In related news, VP Mark S. Bamford sold 5,451 shares of the firm's stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $72.68, for a total transaction of $396,178.68. Following the completion of the sale, the vice president now directly owns 18,223 shares of the company's stock, valued at approximately $1,324,447.64. This trade represents a 23.03 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.70% of the company's stock.

Wall Street Analysts Forecast Growth

TXT has been the subject of a number of research reports. Morgan Stanley reduced their price objective on Textron from $86.00 to $82.00 and set an "equal weight" rating for the company in a research report on Thursday, January 23rd. Vertical Research raised 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. JPMorgan Chase & Co. lowered their price objective on Textron from $90.00 to $88.00 and set a "neutral" rating on the stock in a research report on Thursday, January 16th. Barclays decreased their price target on Textron from $104.00 to $95.00 and set an "overweight" rating on the stock in a report on Monday, December 23rd. Finally, Susquehanna cut 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. One research 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. Based on data from MarketBeat.com, Textron has a consensus rating of "Moderate Buy" and an average price target of $93.45.

Textron Price Performance

Shares of NYSE:TXT traded down $0.25 on Wednesday, reaching $73.40. The company's stock had a trading volume of 381,834 shares, compared to its average volume of 1,080,884. The company has a 50-day simple moving average of $75.25 and a 200 day simple moving average of $81.52. Textron Inc. has a 52-week low of $70.14 and a 52-week high of $97.34. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.84 and a current ratio of 1.76. The company has a market cap of $13.33 billion, a P/E ratio of 17.04, a PEG ratio of 1.18 and a beta of 1.26.

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. The company had revenue of $3.61 billion for the quarter, compared to analysts' expectations 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 firm posted $1.60 earnings per share. As a group, equities research analysts anticipate that Textron Inc. will post 6.12 EPS for the current fiscal year.

Textron Announces Dividend

The company 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 dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.11%. The ex-dividend date is Friday, March 14th. Textron's payout ratio is 1.86%.

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.