HUB Investment Partners LLC Raises Position in Textron Inc. (NYSE:TXT)

HUB Investment Partners LLC lifted its position in Textron Inc. (NYSE:TXT - Free Report) by 30.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,026 shares of the aerospace company's stock after acquiring an additional 6,990 shares during the quarter. HUB Investment Partners LLC's holdings in Textron were worth $2,297,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Merit Financial Group LLC grew its stake in Textron by 5.9% in the 4th quarter. Merit Financial Group LLC now owns 4,784 shares of the aerospace company's stock valued at $366,000 after purchasing an additional 265 shares during the period. Empowered Funds LLC grew its position in Textron by 28.6% during the fourth quarter. Empowered Funds LLC now owns 20,132 shares of the aerospace company's stock valued at $1,540,000 after buying an additional 4,480 shares during the period. Franklin Resources Inc. increased its holdings in Textron by 10.3% during the third quarter. Franklin Resources Inc. now owns 164,029 shares of the aerospace company's stock worth $14,505,000 after buying an additional 15,294 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in Textron by 44.6% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,390 shares of the aerospace company's stock worth $1,343,000 after acquiring an additional 5,367 shares during the period. Finally, Todd Asset Management LLC boosted its stake in Textron by 1.8% in the fourth quarter. Todd Asset Management LLC now owns 470,292 shares of the aerospace company's stock valued at $35,973,000 after acquiring an additional 8,198 shares during the last quarter. Hedge funds and other institutional investors own 86.03% of the company's stock.

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Analyst Upgrades and Downgrades

A number of research firms recently commented on TXT. Vertical Research raised shares of Textron from a "hold" rating to a "buy" rating and set a $91.00 price target on the stock in a report on Monday, January 6th. Morgan Stanley lowered their target price on Textron from $86.00 to $82.00 and set an "equal weight" rating on the stock in a research note on Thursday, January 23rd. Susquehanna dropped their price target on Textron from $100.00 to $90.00 and set a "positive" rating on the stock in a research report on Wednesday, January 8th. 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. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Textron from $90.00 to $88.00 and set a "neutral" rating on the stock in a report on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $93.45.

Textron Stock Up 1.6 %

TXT traded up $1.15 on Monday, hitting $74.23. The company had a trading volume of 2,190,685 shares, compared to its average volume of 1,102,621. Textron Inc. has a 52-week low of $70.14 and a 52-week high of $97.34. The stock has a fifty day simple moving average of $74.83 and a 200-day simple moving average 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. The firm has a market capitalization of $13.48 billion, a P/E ratio of 17.22, a P/E/G ratio of 1.18 and a beta of 1.27.

Textron (NYSE:TXT - Get Free Report) last posted its quarterly earnings data on Wednesday, January 22nd. The aerospace company reported $1.34 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.27 by $0.07. Textron had a return on equity of 14.92% and a net margin of 6.01%. The business had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.78 billion. During the same quarter in the prior year, the company earned $1.60 earnings per share. The firm's quarterly revenue was down 7.2% compared to the same quarter last year. As a group, equities analysts expect that Textron Inc. will post 6.12 EPS for the current fiscal year.

Textron Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.11%. The ex-dividend date of this dividend is Friday, March 14th. Textron's dividend payout ratio (DPR) is 1.86%.

Insiders Place Their Bets

In other news, VP Mark S. Bamford sold 5,451 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the vice president now directly owns 18,223 shares of the company's stock, valued at $1,324,447.64. The trade was a 23.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.70% of the company's stock.

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.