Fidelity National Financial Inc. Buys 70,000 Shares of Textron Inc. (NYSE:TXT)

Fidelity National Financial Inc. increased its position in shares of Textron Inc. (NYSE:TXT - Free Report) by 30.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 300,000 shares of the aerospace company's stock after acquiring an additional 70,000 shares during the period. Textron comprises 0.5% of Fidelity National Financial Inc.'s investment portfolio, making the stock its 10th biggest position. Fidelity National Financial Inc. owned approximately 0.16% of Textron worth $22,947,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Wellington Management Group LLP boosted its stake in shares of Textron by 50.2% in the fourth quarter. Wellington Management Group LLP now owns 603,171 shares of the aerospace company's stock valued at $46,137,000 after purchasing an additional 201,696 shares during the period. Merit Financial Group LLC raised its stake in shares of Textron by 5.9% in the fourth quarter. Merit Financial Group LLC now owns 4,784 shares of the aerospace company's stock valued at $366,000 after acquiring an additional 265 shares in the last quarter. Empowered Funds LLC boosted its holdings in Textron by 28.6% in the fourth quarter. Empowered Funds LLC now owns 20,132 shares of the aerospace company's stock valued at $1,540,000 after purchasing an additional 4,480 shares during the period. Franklin Resources Inc. increased its holdings in Textron by 10.3% during the 3rd quarter. Franklin Resources Inc. now owns 164,029 shares of the aerospace company's stock worth $14,505,000 after purchasing an additional 15,294 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in shares of Textron by 44.6% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,390 shares of the aerospace company's stock worth $1,343,000 after buying an additional 5,367 shares in the last quarter. 86.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Morgan Stanley reduced their price target on shares of Textron from $82.00 to $71.00 and set an "equal weight" rating for the company in a research report on Friday, April 11th. Bank of America lowered shares of Textron from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $110.00 to $85.00 in a research report on Friday, January 24th. Citigroup dropped their price objective on Textron from $111.00 to $107.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Vertical Research upgraded 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. Finally, TD Cowen upgraded Textron to a "hold" rating in a research report on Monday, February 24th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $89.30.

Insider Activity at Textron

In other Textron news, VP Mark S. Bamford sold 5,451 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $72.68, for a total value of $396,178.68. Following the sale, the vice president now directly owns 18,223 shares in the company, valued at approximately $1,324,447.64. This trade represents a 23.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.70% of the stock is currently owned by corporate insiders.

Textron Price Performance

TXT stock traded up $0.65 during trading on Wednesday, hitting $66.10. The company had a trading volume of 2,115,034 shares, compared to its average volume of 1,200,130. 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 has a market cap of $12.00 billion, a P/E ratio of 15.34, a P/E/G ratio of 1.18 and a beta of 1.06. Textron Inc. has a fifty-two week low of $57.70 and a fifty-two week high of $95.86. The company has a fifty day moving average price of $70.51 and a two-hundred day moving average price of $77.42.

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. 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. Textron's quarterly revenue was down 7.2% on a year-over-year basis. During the same period in the prior year, the business earned $1.60 earnings per share. Equities research analysts expect 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 will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be given a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.12%. 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.