iA Global Asset Management Inc. Purchases 12,128 Shares of Textron Inc. (NYSE:TXT)

iA Global Asset Management Inc. grew its holdings in shares of Textron Inc. (NYSE:TXT - Free Report) by 339.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,705 shares of the aerospace company's stock after purchasing an additional 12,128 shares during the quarter. iA Global Asset Management Inc.'s holdings in Textron were worth $1,201,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. Pflug Koory LLC boosted its holdings in Textron by 0.9% in the 4th quarter. Pflug Koory LLC now owns 13,778 shares of the aerospace company's stock worth $1,054,000 after buying an additional 125 shares during the period. V Square Quantitative Management LLC boosted its holdings in shares of Textron by 5.7% in the fourth quarter. V Square Quantitative Management LLC now owns 2,611 shares of the aerospace company's stock worth $200,000 after acquiring an additional 141 shares during the period. Patriot Financial Group Insurance Agency LLC grew its position in shares of Textron by 5.8% in the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 2,977 shares of the aerospace company's stock valued at $228,000 after purchasing an additional 163 shares in the last quarter. Foundations Investment Advisors LLC raised its stake in shares of Textron by 4.1% during the 4th quarter. Foundations Investment Advisors LLC now owns 4,272 shares of the aerospace company's stock valued at $327,000 after purchasing an additional 169 shares during the period. Finally, Uncommon Cents Investing LLC raised its stake in shares of Textron by 2.2% during the 4th quarter. Uncommon Cents Investing LLC now owns 7,985 shares of the aerospace company's stock valued at $611,000 after purchasing an additional 175 shares during the period. Hedge funds and other institutional investors own 86.03% of the company's stock.

Remove Ads

Textron Price Performance

Shares of Textron stock traded up $0.50 during trading on Wednesday, hitting $75.14. 1,097,078 shares of the stock traded hands, compared to its average volume of 1,107,275. The firm's fifty day moving average is $74.76 and its 200-day moving average is $80.43. The stock has a market cap of $13.65 billion, a price-to-earnings ratio of 17.43, a PEG ratio of 1.18 and a beta of 1.27. Textron Inc. has a 52 week low of $70.14 and a 52 week high of $97.34. The company has a quick ratio of 0.84, a current ratio of 1.76 and a debt-to-equity ratio of 0.45.

Textron (NYSE:TXT - Get Free Report) last posted its quarterly 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 firm had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $3.78 billion. During the same period last year, the firm posted $1.60 earnings per share. The business's revenue was down 7.2% compared to the same quarter last year. Research analysts expect 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, April 1st. Shareholders of record on Friday, March 14th will be given a dividend of $0.02 per share. The ex-dividend date is Friday, March 14th. This represents a $0.08 annualized dividend and a yield of 0.11%. Textron's payout ratio is 1.86%.

Insider Activity

In related news, VP Mark S. Bamford sold 5,451 shares of the stock in a transaction dated 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 in the company, valued at $1,324,447.64. This represents a 23.03 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 1.70% of the company's stock.

Analysts Set New Price Targets

A number of research firms have weighed in on TXT. Citigroup reduced their target price on Textron from $118.00 to $111.00 and set a "buy" rating for the company in a report on Tuesday, January 21st. Susquehanna reduced their price objective on shares of Textron from $100.00 to $90.00 and set a "positive" rating for the company in a research note on Wednesday, January 8th. Barclays lowered their target price on shares of Textron from $104.00 to $95.00 and set an "overweight" rating on the stock in a research note on Monday, December 23rd. 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. Finally, Morgan Stanley dropped their price objective on Textron from $86.00 to $82.00 and set an "equal weight" rating for the company in a research note on Thursday, January 23rd. One equities 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 company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $93.45.

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.