Brandywine Global Investment Management LLC Increases Holdings in Textron Inc. (NYSE:TXT)

Brandywine Global Investment Management LLC lifted its holdings in shares of Textron Inc. (NYSE:TXT - Free Report) by 21.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 274,729 shares of the aerospace company's stock after purchasing an additional 47,879 shares during the period. Brandywine Global Investment Management LLC owned about 0.15% of Textron worth $21,014,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TXT. True Wealth Design LLC bought a new stake in Textron in the third quarter worth about $26,000. SBI Securities Co. Ltd. purchased a new stake in shares of Textron during the 4th quarter worth approximately $31,000. Eastern Bank bought a new stake in shares of Textron in the 4th quarter worth approximately $42,000. Golden State Wealth Management LLC purchased a new position in Textron in the fourth quarter valued at approximately $63,000. Finally, McClarren Financial Advisors Inc. purchased a new position in Textron in the fourth quarter valued at approximately $68,000. 86.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on TXT. TD Cowen upgraded Textron to a "hold" rating in a research note on Monday, February 24th. Susquehanna lowered their price objective on Textron from $100.00 to $90.00 and set a "positive" rating on the stock in a research note on Wednesday, January 8th. Vertical Research upgraded shares of Textron from a "hold" rating to a "buy" rating and set a $91.00 target price for the company in a research report on Monday, January 6th. Morgan Stanley reduced their target price on shares of Textron from $86.00 to $82.00 and set an "equal weight" rating for the company in a research note on Thursday, January 23rd. Finally, JPMorgan Chase & Co. dropped their price target 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. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $93.45.

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Textron Price Performance

NYSE:TXT traded up $0.32 during trading hours on Wednesday, hitting $72.48. The stock had a trading volume of 1,148,256 shares, compared to its average volume of 1,156,535. The company has a 50 day simple moving average of $74.17 and a two-hundred day simple moving average of $79.96. The firm has a market capitalization of $13.16 billion, a price-to-earnings ratio of 16.82, 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. Textron Inc. has a one year low of $70.14 and a one year high of $97.34.

Textron (NYSE:TXT - Get Free Report) last posted its quarterly earnings data on Wednesday, January 22nd. The aerospace company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.07. The company had revenue of $3.61 billion during 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 firm's quarterly revenue was down 7.2% on a year-over-year basis. During the same quarter last year, the company earned $1.60 earnings per share. Research analysts forecast that Textron Inc. will post 6.12 earnings per share for the current fiscal year.

Textron Dividend Announcement

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

Insider Buying and Selling at Textron

In other 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 sale, the vice president now owns 18,223 shares in the company, valued at approximately $1,324,447.64. This trade represents a 23.03 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.70% of the stock is currently owned by company insiders.

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.