Magnetar Financial LLC Invests $276,000 in Textron Inc. (NYSE:TXT)

Magnetar Financial LLC acquired a new position in shares of Textron Inc. (NYSE:TXT - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 3,612 shares of the aerospace company's stock, valued at approximately $276,000.

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

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Wall Street Analysts Forecast Growth

Several analysts have commented on TXT shares. Robert W. Baird lowered their price target on Textron from $100.00 to $92.00 and set an "outperform" rating for the company in a report on Thursday, January 23rd. TD Cowen raised shares of Textron to a "hold" rating in a research report on Monday, February 24th. Morgan Stanley decreased their price target on shares of Textron from $86.00 to $82.00 and set an "equal weight" rating on the stock in a report on Thursday, January 23rd. Vertical Research upgraded Textron from a "hold" rating to a "buy" rating and set a $91.00 price objective for the company in a report on Monday, January 6th. Finally, Barclays dropped 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. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $93.45.

Insiders Place Their Bets

In related 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 approximately $1,324,447.64. This represents a 23.03 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.70% of the stock is currently owned by company insiders.

Textron Stock Up 0.2 %

NYSE TXT traded up $0.15 on Thursday, reaching $75.32. The company had a trading volume of 1,082,561 shares, compared to its average volume of 1,107,760. Textron Inc. has a 1 year low of $70.14 and a 1 year high of $97.34. The firm has a market capitalization of $13.68 billion, a PE ratio of 17.48, a P/E/G ratio of 1.18 and a beta of 1.27. 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 50-day moving average of $74.69 and a 200-day moving average of $80.39.

Textron (NYSE:TXT - Get Free Report) last announced its earnings results 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. The business had revenue of $3.61 billion for the quarter, compared to analyst estimates of $3.78 billion. Textron had a return on equity of 14.92% and a net margin of 6.01%. The company's revenue for the quarter was down 7.2% compared to the same quarter last year. During the same period in the previous year, the company earned $1.60 earnings per share. On average, equities research analysts anticipate that Textron Inc. will post 6.12 EPS for the current fiscal year.

Textron Dividend Announcement

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

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.