Bank of Montreal Can Increases Stock Position in Textron Inc. (NYSE:TXT)

Bank of Montreal Can grew its position in shares of Textron Inc. (NYSE:TXT - Free Report) by 3.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 197,855 shares of the aerospace company's stock after buying an additional 7,240 shares during the quarter. Bank of Montreal Can owned 0.11% of Textron worth $15,134,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Boston Partners grew its position in shares of Textron by 4.7% during the 4th 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. Geode Capital Management LLC grew its holdings in 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 purchasing an additional 164,964 shares during the period. Brandes Investment Partners LP increased its position in 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 buying an additional 302,712 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Textron by 0.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,678,854 shares of the aerospace company's stock valued at $128,416,000 after buying an additional 7,610 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of Textron by 7.9% during the 4th quarter. Bank of New York Mellon Corp now owns 1,428,377 shares of the aerospace company's stock valued at $109,257,000 after acquiring an additional 104,982 shares during the period. 86.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Textron news, VP Mark S. Bamford sold 5,451 shares of the company's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $72.68, for a total value of $396,178.68. Following the transaction, the vice president now directly 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.70% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on TXT shares. Susquehanna dropped their price target on shares of Textron from $100.00 to $90.00 and set a "positive" rating for the company in a research report on Wednesday, January 8th. JPMorgan Chase & Co. dropped their target price on shares of Textron from $90.00 to $88.00 and set a "neutral" rating for the company in a report on Thursday, January 16th. Bank of America downgraded Textron from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $110.00 to $85.00 in a research report on Friday, January 24th. 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. Finally, Citigroup decreased their price target on shares of Textron from $111.00 to $107.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $89.30.

Textron Trading Up 1.6 %

Shares of TXT traded up $1.02 during midday trading on Friday, hitting $66.00. The stock had a trading volume of 1,563,028 shares, compared to its average volume of 1,187,931. The stock's 50 day moving average is $70.98 and its 200 day moving average is $77.93. The firm has a market cap of $11.99 billion, a PE ratio of 15.31, a price-to-earnings-growth 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 1 year low of $57.70 and a 1 year high of $95.86.

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, beating the consensus estimate of $1.27 by $0.07. Textron had a return on equity of 14.92% and a net margin of 6.01%. The business had revenue of $3.61 billion during the quarter, compared to analyst estimates of $3.78 billion. During the same quarter in the previous year, the business earned $1.60 earnings per share. The company's revenue for the quarter was down 7.2% compared to the same quarter last year. As a group, analysts forecast that Textron Inc. will post 6.12 EPS for the current fiscal year.

Textron Dividend Announcement

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

Textron 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.