Massachusetts Financial Services Co. MA Increases Stock Holdings in Textron Inc. (NYSE:TXT)

Massachusetts Financial Services Co. MA raised its position in shares of Textron Inc. (NYSE:TXT - Free Report) by 12.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 89,780 shares of the aerospace company's stock after buying an additional 9,807 shares during the period. Massachusetts Financial Services Co. MA's holdings in Textron were worth $6,867,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Boston Partners increased its stake in Textron by 4.7% during the 4th quarter. Boston Partners now owns 7,483,692 shares of the aerospace company's stock worth $572,465,000 after buying an additional 333,127 shares during the period. Geode Capital Management LLC increased its position in shares of Textron by 3.7% during the fourth quarter. Geode Capital Management LLC now owns 4,595,861 shares of the aerospace company's stock worth $350,619,000 after acquiring an additional 164,964 shares during the period. Brandes Investment Partners LP increased its position in shares of Textron by 19.4% during the fourth quarter. Brandes Investment Partners LP now owns 1,859,703 shares of the aerospace company's stock worth $142,249,000 after acquiring an additional 302,712 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Textron by 0.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,678,854 shares of the aerospace company's stock valued at $128,416,000 after acquiring an additional 7,610 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in Textron by 7.9% in the fourth quarter. Bank of New York Mellon Corp now owns 1,428,377 shares of the aerospace company's stock valued at $109,257,000 after purchasing an additional 104,982 shares during the period. 86.03% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Textron

In other Textron news, VP Mark S. Bamford sold 5,451 shares of the firm's stock in a transaction 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 transaction, the vice president now directly owns 18,223 shares of the company's stock, valued at approximately $1,324,447.64. This trade represents a 23.03 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 1.70% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages have weighed in on TXT. Susquehanna cut their price target on Textron from $100.00 to $90.00 and set a "positive" rating on the stock in a report on Wednesday, January 8th. JPMorgan Chase & Co. cut their target price on shares of Textron from $90.00 to $88.00 and set a "neutral" rating on the stock in a research note on Thursday, January 16th. TD Cowen upgraded shares of Textron to a "hold" rating in a research note on Monday, February 24th. Robert W. Baird lowered their price target on shares of Textron from $100.00 to $92.00 and set an "outperform" rating for the company in a report on Thursday, January 23rd. Finally, Morgan Stanley reduced their price objective on shares of Textron from $82.00 to $71.00 and set an "equal weight" rating on the stock in a report on Friday. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $92.09.

Textron Stock Up 1.7 %

Shares of NYSE TXT traded up $1.12 during mid-day trading on Friday, reaching $65.64. The company had a trading volume of 1,258,954 shares, compared to its average volume of 1,184,556. The firm has a 50 day simple moving average of $71.70 and a two-hundred day simple moving average of $78.47. Textron Inc. has a 52-week low of $57.70 and a 52-week 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 stock has a market cap of $11.92 billion, a P/E ratio of 15.23, a PEG ratio of 1.18 and a beta of 1.06.

Textron (NYSE:TXT - Get Free Report) last issued its quarterly earnings data on Wednesday, January 22nd. The aerospace company reported $1.34 earnings per share (EPS) 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 company had revenue of $3.61 billion for the quarter, compared to analyst estimates of $3.78 billion. During the same quarter last year, the company posted $1.60 earnings per share. The business's quarterly revenue was down 7.2% compared to the same quarter last year. Sell-side analysts predict that Textron Inc. will post 6.12 earnings per share for the current year.

Textron Announces Dividend

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

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.