Cibc World Markets Corp lifted its stake in shares of Textron Inc. (NYSE:TXT - Free Report) by 14.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,350 shares of the aerospace company's stock after purchasing an additional 3,763 shares during the quarter. Cibc World Markets Corp's holdings in Textron were worth $2,245,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in the company. True Wealth Design LLC bought a new position in Textron in the third quarter worth approximately $26,000. SBI Securities Co. Ltd. bought a new position in shares of Textron in the 4th quarter worth $31,000. Eastern Bank bought a new position in shares of Textron in the 4th quarter worth $42,000. Truvestments Capital LLC acquired a new stake in Textron in the 3rd quarter valued at $43,000. Finally, Golden State Wealth Management LLC bought a new stake in Textron during the 4th quarter valued at $63,000. 86.03% of the stock is currently owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other news, VP Mark S. Bamford sold 5,451 shares of the company's stock in a transaction 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 transaction, the vice president now owns 18,223 shares of the company's stock, valued at $1,324,447.64. This represents a 23.03 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.70% of the company's stock.
Analyst Upgrades and Downgrades
A number of brokerages have recently issued reports on TXT. TD Cowen upgraded shares of Textron to a "hold" rating in a report on Monday, February 24th. Barclays cut their price target on Textron from $104.00 to $95.00 and set an "overweight" rating for the company in a research note on Monday, December 23rd. Vertical Research raised Textron from a "hold" rating to a "buy" rating and set a $91.00 price objective for the company in a research note on Monday, January 6th. Susquehanna cut their target price on Textron from $100.00 to $90.00 and set a "positive" rating on the stock in a research report on Wednesday, January 8th. Finally, Citigroup decreased their price target on Textron from $118.00 to $111.00 and set a "buy" rating for the company in a report on Tuesday, January 21st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $93.45.
View Our Latest Stock Analysis on TXT
Textron Stock Performance
Shares of NYSE TXT traded up $0.22 during mid-day trading on Tuesday, reaching $74.50. 2,109,510 shares of the company's stock were exchanged, compared to its average volume of 1,102,621. The firm has a market capitalization of $13.53 billion, a price-to-earnings ratio of 17.29, a price-to-earnings-growth ratio of 1.18 and a beta of 1.27. The firm has a 50-day moving average price of $74.83 and a two-hundred day moving average price of $80.51. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.76 and a quick ratio of 0.84. Textron Inc. has a 52 week low of $70.14 and a 52 week high of $97.34.
Textron (NYSE:TXT - Get Free Report) last released its earnings results on Wednesday, January 22nd. The aerospace company reported $1.34 earnings per share for the quarter, beating analysts' consensus estimates of $1.27 by $0.07. Textron had a net margin of 6.01% and a return on equity of 14.92%. The firm had revenue of $3.61 billion for the quarter, compared to analysts' expectations of $3.78 billion. During the same period in the previous year, the company earned $1.60 earnings per share. The company's quarterly revenue was down 7.2% on a year-over-year basis. Analysts predict that Textron Inc. will post 6.12 EPS for the current year.
Textron Dividend Announcement
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 issued 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 dividend payout ratio (DPR) is 1.86%.
About Textron
(
Free Report)
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.
Further Reading
Before you consider Textron, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Textron wasn't on the list.
While Textron currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's list of seven best retirement stocks and why they should be in your portfolio.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
