Textron Inc. (NYSE:TXT) Position Increased by Neuberger Berman Group LLC

Neuberger Berman Group LLC increased its stake in Textron Inc. (NYSE:TXT - Free Report) by 1.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 781,194 shares of the aerospace company's stock after purchasing an additional 12,175 shares during the period. Neuberger Berman Group LLC owned 0.42% of Textron worth $59,754,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in TXT. Invesco Ltd. grew its position in shares of Textron by 17.8% during the fourth quarter. Invesco Ltd. now owns 7,733,335 shares of the aerospace company's stock worth $591,523,000 after acquiring an additional 1,167,105 shares during the last quarter. Boston Partners increased its stake in shares of 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 purchasing an additional 333,127 shares during the period. Geode Capital Management LLC raised its holdings 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 valued at $350,619,000 after buying an additional 164,964 shares during the last quarter. Brandes Investment Partners LP boosted 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 buying an additional 302,712 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in Textron by 0.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,678,854 shares of the aerospace company's stock worth $128,416,000 after buying an additional 7,610 shares in the last quarter. Institutional investors and hedge funds own 86.03% of the company's stock.

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Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Vertical Research raised Textron from a "hold" rating to a "buy" rating and set a $91.00 target price on the stock in a research note on Monday, January 6th. Robert W. Baird lowered their target price on shares of Textron from $100.00 to $92.00 and set an "outperform" rating on the stock in a research note on Thursday, January 23rd. 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 note on Friday. Susquehanna lowered their price objective on shares of Textron from $100.00 to $90.00 and set a "positive" rating on the stock in a research note on Wednesday, January 8th. Finally, JPMorgan Chase & Co. cut their target price on Textron from $90.00 to $88.00 and set a "neutral" rating for the company in a research report on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $92.09.

Textron Price Performance

Shares of TXT traded down $0.42 during trading hours on Tuesday, hitting $65.57. 242,550 shares of the company were exchanged, compared to its average volume of 1,182,449. The firm has a fifty day simple moving average of $71.53 and a 200-day simple moving average of $78.26. The company has a market capitalization of $11.91 billion, a PE ratio of 15.21, a PEG ratio of 1.18 and a beta of 1.06. 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 $57.70 and a one year high of $95.86.

Textron (NYSE:TXT - Get Free Report) last posted its quarterly earnings data on Wednesday, January 22nd. The aerospace company reported $1.34 EPS for the quarter, beating 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 during the quarter, compared to analyst estimates of $3.78 billion. During the same period in the prior year, the firm earned $1.60 earnings per share. The business's quarterly revenue was down 7.2% on a year-over-year basis. As a group, sell-side analysts predict that Textron Inc. will post 6.12 earnings per share for the current year.

Textron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were issued a $0.02 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.12%. Textron's payout ratio is currently 1.86%.

Insider Transactions at Textron

In other news, VP Mark S. Bamford sold 5,451 shares of the company's stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $72.68, for a total value of $396,178.68. Following the transaction, the vice president now owns 18,223 shares in the company, valued at $1,324,447.64. This represents a 23.03 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.70% of the stock is currently owned by 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.