Jump Financial LLC Buys 96,616 Shares of Textron Inc. (NYSE:TXT)

Jump Financial LLC grew its holdings in Textron Inc. (NYSE:TXT - Free Report) by 2,851.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 100,004 shares of the aerospace company's stock after acquiring an additional 96,616 shares during the period. Jump Financial LLC owned about 0.05% of Textron worth $7,649,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP grew its stake in shares of Textron by 50.2% during the fourth quarter. Wellington Management Group LLP now owns 603,171 shares of the aerospace company's stock valued at $46,137,000 after acquiring an additional 201,696 shares in the last quarter. Merit Financial Group LLC boosted its stake in shares of Textron by 5.9% during the 4th quarter. Merit Financial Group LLC now owns 4,784 shares of the aerospace company's stock valued at $366,000 after buying an additional 265 shares during the last quarter. Empowered Funds LLC grew its position in shares of Textron by 28.6% during the fourth quarter. Empowered Funds LLC now owns 20,132 shares of the aerospace company's stock worth $1,540,000 after buying an additional 4,480 shares in the last quarter. Franklin Resources Inc. increased its stake in shares of Textron by 10.3% in 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. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings 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 valued at $1,343,000 after acquiring an additional 5,367 shares in the last quarter. 86.03% of the stock is owned by hedge funds and other institutional investors.

Textron Stock Up 1.6 %

Shares of TXT traded up $1.02 during trading hours on Friday, hitting $66.00. 1,563,028 shares of the company were exchanged, compared to its average volume of 1,189,441. The firm's 50 day moving average is $70.82 and its 200-day moving average is $77.78. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.84 and a current ratio of 1.76. Textron Inc. has a 52 week low of $57.70 and a 52 week high of $95.86. The company has a market cap of $11.99 billion, a PE ratio of 15.31, a PEG ratio of 1.18 and a beta of 1.06.

Textron (NYSE:TXT - Get Free Report) last issued its earnings results on Wednesday, January 22nd. The aerospace company reported $1.34 EPS for the quarter, beating 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 analyst estimates of $3.78 billion. During the same period in the prior year, the company posted $1.60 earnings per share. Textron's revenue was down 7.2% on a year-over-year basis. On average, equities research analysts forecast that Textron Inc. will post 6.12 EPS for the current fiscal year.

Textron Dividend Announcement

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

Insider Activity at Textron

In related news, VP Mark S. Bamford sold 5,451 shares of Textron stock in a transaction dated Monday, February 24th. The stock was 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 directly owns 18,223 shares in the company, valued at $1,324,447.64. This trade represents a 23.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.70% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Barclays lowered their price objective on shares of Textron from $104.00 to $95.00 and set an "overweight" rating for the company in a research report on Monday, December 23rd. Bank of America cut shares of Textron from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $110.00 to $85.00 in a research report on Friday, January 24th. TD Cowen upgraded shares of Textron to a "hold" rating in a research report on Monday, February 24th. Morgan Stanley reduced their target price on Textron from $82.00 to $71.00 and set an "equal weight" rating for the company in a report on Friday, April 11th. Finally, Citigroup reduced their target price on Textron from $111.00 to $107.00 and set a "buy" rating for the company in a report on Thursday, April 10th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $89.30.

About Textron

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.