T. Rowe Price Investment Management Inc. Has $866.90 Million Position in Textron Inc. (NYSE:TXT)

T. Rowe Price Investment Management Inc. cut its stake in Textron Inc. (NYSE:TXT - Free Report) by 11.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,333,509 shares of the aerospace company's stock after selling 1,520,990 shares during the quarter. T. Rowe Price Investment Management Inc. owned 6.11% of Textron worth $866,901,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of TXT. Invesco Ltd. grew its holdings in shares of Textron by 17.8% in the 4th quarter. Invesco Ltd. now owns 7,733,335 shares of the aerospace company's stock valued at $591,523,000 after buying an additional 1,167,105 shares during the period. Raymond James Financial Inc. acquired a new position in Textron in the fourth quarter valued at about $41,451,000. Boston Partners grew its stake in Textron by 4.7% in the fourth quarter. Boston Partners now owns 7,483,692 shares of the aerospace company's stock valued at $572,465,000 after acquiring an additional 333,127 shares during the period. Brandes Investment Partners LP increased its holdings in shares of Textron by 19.4% in 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 in the last quarter. Finally, Marshall Wace LLP acquired a new stake in shares of Textron during the fourth quarter worth about $22,370,000. 86.03% of the stock is currently owned by institutional investors and hedge funds.

Textron Price Performance

Shares of TXT opened at $65.51 on Wednesday. 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 company's fifty day simple moving average is $70.51 and its 200 day simple moving average is $77.42. Textron Inc. has a 1-year low of $57.70 and a 1-year high of $95.86. The company has a market cap of $11.90 billion, a price-to-earnings ratio of 15.20, a PEG ratio of 1.18 and a beta of 1.06.

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

Textron Announces Dividend

The firm 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 dividend on an annualized basis and a yield of 0.12%. The ex-dividend date of this dividend was Friday, March 14th. Textron's dividend payout ratio (DPR) is presently 1.86%.

Insider Activity

In related news, VP Mark S. Bamford sold 5,451 shares of the business'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 transaction, the vice president now directly owns 18,223 shares of the company's stock, valued at approximately $1,324,447.64. The trade was a 23.03 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.70% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on TXT shares. TD Cowen upgraded Textron to a "hold" rating in a report on Monday, February 24th. Citigroup decreased their price objective on Textron from $111.00 to $107.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Susquehanna cut their target price on Textron from $100.00 to $90.00 and set a "positive" rating on the stock in a research note on Wednesday, January 8th. JPMorgan Chase & Co. decreased their price target on shares of Textron from $90.00 to $88.00 and set a "neutral" rating for the company in a research note on Thursday, January 16th. Finally, Vertical Research upgraded shares of Textron from a "hold" rating to a "buy" rating and set a $91.00 price objective on the stock in a report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price 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.

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