Geode Capital Management LLC Has $350.62 Million Stake in Textron Inc. (NYSE:TXT)

Geode Capital Management LLC lifted its stake in shares of Textron Inc. (NYSE:TXT - Free Report) by 3.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,595,861 shares of the aerospace company's stock after acquiring an additional 164,964 shares during the period. Geode Capital Management LLC owned 2.48% of Textron worth $350,619,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of TXT. National Bank of Canada FI increased its holdings in shares of Textron by 43.8% during the 4th quarter. National Bank of Canada FI now owns 208,741 shares of the aerospace company's stock worth $15,967,000 after buying an additional 63,567 shares during the last quarter. B. Metzler seel. Sohn & Co. AG lifted its stake in shares of Textron by 2.4% during the fourth quarter. B. Metzler seel. Sohn & Co. AG now owns 53,038 shares of the aerospace company's stock worth $4,057,000 after purchasing an additional 1,246 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Textron by 50.2% in the fourth quarter. Wellington Management Group LLP now owns 603,171 shares of the aerospace company's stock worth $46,137,000 after buying an additional 201,696 shares during the period. Brandywine Global Investment Management LLC raised its holdings in shares of Textron by 21.1% during the 4th quarter. Brandywine Global Investment Management LLC now owns 274,729 shares of the aerospace company's stock valued at $21,014,000 after buying an additional 47,879 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its position in shares of Textron by 66.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 66,314 shares of the aerospace company's stock worth $5,072,000 after purchasing an additional 26,378 shares in the last quarter. 86.03% of the stock is owned by institutional investors and hedge funds.

Textron Trading Down 4.8 %

Shares of Textron stock traded down $3.18 on Thursday, reaching $63.60. 329,501 shares of the company were exchanged, compared to its average volume of 1,495,322. Textron Inc. has a fifty-two week low of $57.70 and a fifty-two week high of $95.86. The firm has a market capitalization of $11.55 billion, a price-to-earnings ratio of 14.78, a price-to-earnings-growth ratio of 1.18 and a beta of 1.06. The company has a current ratio of 1.76, a quick ratio of 0.84 and a debt-to-equity ratio of 0.45. The stock has a fifty day moving average price of $72.12 and a 200-day moving average price of $78.76.

Textron (NYSE:TXT - Get Free Report) last announced its earnings results on Wednesday, January 22nd. The aerospace company reported $1.34 EPS 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 company had revenue of $3.61 billion during the quarter, compared to analysts' expectations of $3.78 billion. During the same period last year, the company posted $1.60 earnings per share. The business's revenue for the quarter was down 7.2% on a year-over-year basis. On average, analysts expect that Textron Inc. will post 6.12 EPS for the current year.

Textron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were paid a dividend of $0.02 per share. The ex-dividend date was Friday, March 14th. This represents a $0.08 annualized dividend and a yield of 0.13%. Textron's dividend payout ratio (DPR) is presently 1.86%.

Insider Activity

In other Textron news, VP Mark S. Bamford sold 5,451 shares of the stock in a transaction that occurred on 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. This represents a 23.03 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.70% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

TXT has been the subject of several recent analyst reports. Bank of America downgraded Textron from a "buy" rating to a "neutral" rating and lowered their target price for the company from $110.00 to $85.00 in a research note on Friday, January 24th. JPMorgan Chase & Co. dropped their price objective on Textron from $90.00 to $88.00 and set a "neutral" rating on the stock in a report on Thursday, January 16th. TD Cowen raised shares of Textron to a "hold" rating in a research report on Monday, February 24th. Barclays cut their price target on shares of Textron from $104.00 to $95.00 and set an "overweight" rating on the stock in a report on Monday, December 23rd. Finally, Citigroup cut their target price on shares of Textron from $118.00 to $111.00 and set a "buy" rating on the stock in a research note on Tuesday, January 21st. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target 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.