Mizuho Securities USA LLC lifted its position in shares of Textron Inc. (NYSE:TXT - Free Report) by 44.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,582 shares of the aerospace company's stock after purchasing an additional 5,433 shares during the period. Mizuho Securities USA LLC's holdings in Textron were worth $1,345,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. True Wealth Design LLC acquired a new position in shares of Textron in the 3rd quarter valued at $26,000. SBI Securities Co. Ltd. acquired a new position in Textron in the fourth quarter valued at $31,000. Truvestments Capital LLC purchased a new position in shares of Textron during the third quarter worth about $43,000. Eastern Bank acquired a new stake in shares of Textron during the fourth quarter worth about $42,000. Finally, Golden State Wealth Management LLC purchased a new stake in shares of Textron in the 4th quarter valued at about $63,000. Institutional investors and hedge funds own 86.03% of the company's stock.
Insider Activity
In related news, VP Mark S. Bamford sold 5,451 shares of Textron stock in a transaction dated Monday, February 24th. The shares were 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 in the company, valued at $1,324,447.64. The trade was a 23.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.70% of the company's stock.
Analyst Upgrades and Downgrades
Several research firms have recently weighed in on TXT. Susquehanna decreased their price objective on Textron from $100.00 to $90.00 and set a "positive" rating for the company in a report on Wednesday, January 8th. Vertical Research upgraded shares of Textron from a "hold" rating to a "buy" rating and set a $91.00 price target for the company in a research note on Monday, January 6th. Barclays dropped their price objective on shares of Textron from $104.00 to $95.00 and set an "overweight" rating on the stock in a research note on Monday, December 23rd. Bank of America downgraded shares of Textron from a "buy" rating to a "neutral" rating and decreased their target price for the stock from $110.00 to $85.00 in a research note on Friday, January 24th. Finally, Robert W. Baird dropped their price target on Textron from $100.00 to $92.00 and set an "outperform" rating on the stock in a research report on Thursday, January 23rd. One investment 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. Based on data from MarketBeat.com, Textron currently has a consensus rating of "Moderate Buy" and a consensus target price of $93.45.
View Our Latest Analysis on TXT
Textron Trading Down 3.1 %
Shares of Textron stock traded down $2.36 during trading hours on Friday, hitting $72.92. The company's stock had a trading volume of 1,075,585 shares, compared to its average volume of 1,153,198. The business has a fifty day moving average of $74.49 and a 200 day moving average of $80.21. The company has a quick ratio of 0.84, a current ratio of 1.76 and a debt-to-equity ratio of 0.45. Textron Inc. has a 1-year low of $70.14 and a 1-year high of $97.34. The company has a market capitalization of $13.24 billion, a PE ratio of 16.92, a P/E/G ratio of 1.18 and a beta of 1.27.
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 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 firm had revenue of $3.61 billion during the quarter, compared to analyst estimates of $3.78 billion. During the same quarter last year, the firm earned $1.60 EPS. Textron's quarterly revenue was down 7.2% on a year-over-year basis. As a group, equities analysts forecast that Textron Inc. will post 6.12 EPS for the current year.
Textron Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be issued 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 dividend payout ratio (DPR) is 1.86%.
Textron Company Profile
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Free Report)
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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