Invesco Ltd. Grows Stake in Textron Inc. (NYSE:TXT)

Invesco Ltd. raised its holdings in shares of Textron Inc. (NYSE:TXT - Free Report) by 17.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 7,733,335 shares of the aerospace company's stock after purchasing an additional 1,167,105 shares during the period. Invesco Ltd. owned approximately 4.17% of Textron worth $591,523,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of TXT. Benjamin Edwards Inc. purchased a new position in Textron in the 3rd quarter worth about $417,000. Jacobs Levy Equity Management Inc. bought a new stake in shares of Textron in the third quarter worth approximately $828,000. Integrated Wealth Concepts LLC raised its holdings in shares of Textron by 39.2% during the third quarter. Integrated Wealth Concepts LLC now owns 8,872 shares of the aerospace company's stock valued at $786,000 after purchasing an additional 2,500 shares during the last quarter. Quarry LP bought a new position in Textron during the third quarter valued at approximately $81,000. Finally, Quantinno Capital Management LP boosted its holdings in Textron by 1.3% in the third quarter. Quantinno Capital Management LP now owns 41,278 shares of the aerospace company's stock worth $3,656,000 after purchasing an additional 539 shares during the last quarter. Hedge funds and other institutional investors own 86.03% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on TXT shares. Vertical Research upgraded shares of Textron from a "hold" rating to a "buy" rating and set a $91.00 target price for the company in a research note on Monday, January 6th. TD Cowen raised 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. Robert W. Baird lowered their price objective on shares of Textron from $100.00 to $92.00 and set an "outperform" rating on the stock in a research note on Thursday, January 23rd. Finally, Citigroup cut their target price on shares of Textron from $111.00 to $107.00 and set a "buy" rating for the company in a research report on Thursday. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $92.09.

Textron Price Performance

Textron stock traded up $1.12 during mid-day trading on Friday, hitting $65.64. The stock had a trading volume of 1,258,954 shares, compared to its average volume of 1,185,521. Textron Inc. has a one year low of $57.70 and a one year high of $95.86. 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 firm has a market capitalization of $11.92 billion, a P/E ratio of 15.23, a P/E/G ratio of 1.18 and a beta of 1.06. The firm's 50 day moving average is $71.70 and its 200 day moving average is $78.41.

Textron (NYSE:TXT - Get Free Report) last posted its quarterly earnings results 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. 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 period in the prior year, the company posted $1.60 EPS. The firm's revenue for the quarter was down 7.2% compared to the same quarter last year. On average, sell-side analysts forecast that Textron Inc. will post 6.12 earnings per share for the current fiscal year.

Textron Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were given a $0.02 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.12%. Textron's dividend payout ratio is currently 1.86%.

Insider Activity at Textron

In other news, VP Mark S. Bamford sold 5,451 shares of the company'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 sale, the vice president now directly 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.70% of the stock is owned by corporate insiders.

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.