Textron Inc. (NYSE:TXT) Shares Bought by Mariner LLC

Mariner LLC grew its position in Textron Inc. (NYSE:TXT - Free Report) by 4.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,137,684 shares of the aerospace company's stock after purchasing an additional 46,469 shares during the quarter. Mariner LLC owned approximately 0.61% of Textron worth $87,022,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. MML Investors Services LLC lifted its position in shares of Textron by 18.4% during the 3rd quarter. MML Investors Services LLC now owns 26,505 shares of the aerospace company's stock worth $2,348,000 after buying an additional 4,110 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of Textron by 10.3% during the third 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 last quarter. Central Pacific Bank Trust Division lifted its holdings in shares of Textron by 4.3% in the 4th quarter. Central Pacific Bank Trust Division now owns 24,200 shares of the aerospace company's stock valued at $1,851,000 after purchasing an additional 1,000 shares during the last quarter. International Assets Investment Management LLC purchased a new position in Textron during the 4th quarter worth approximately $11,523,000. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in Textron by 6.2% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 26,147 shares of the aerospace company's stock valued at $2,000,000 after buying an additional 1,527 shares during the last quarter. 86.03% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Textron

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

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Citigroup cut their target price on shares of Textron from $111.00 to $107.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Morgan Stanley decreased their target price 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, April 11th. Barclays reduced their price objective on Textron from $104.00 to $95.00 and set an "overweight" rating for the company in a research note on Monday, December 23rd. Susquehanna cut their price target on Textron from $100.00 to $90.00 and set a "positive" rating for the company in a research note on Wednesday, January 8th. Finally, TD Cowen raised shares of Textron to a "hold" rating in a research note on Monday, February 24th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $89.30.

Textron Price Performance

Shares of NYSE TXT traded up $1.02 during midday trading on Friday, hitting $66.00. The company had a trading volume of 1,563,028 shares, compared to its average volume of 1,189,441. The company has a quick ratio of 0.84, a current ratio of 1.76 and a debt-to-equity ratio of 0.45. The business has a 50-day simple moving average of $70.82 and a two-hundred day simple moving average of $77.78. Textron Inc. has a twelve month low of $57.70 and a twelve month high of $95.86. The firm has a market capitalization of $11.99 billion, a price-to-earnings ratio of 15.31, a price-to-earnings-growth ratio of 1.18 and a beta of 1.06.

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 (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.07. The firm had revenue of $3.61 billion during the quarter, compared to analysts' expectations of $3.78 billion. Textron had a return on equity of 14.92% and a net margin of 6.01%. Textron's revenue was down 7.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.60 earnings per share. Equities research analysts anticipate that Textron Inc. will post 6.12 earnings per share for the current year.

Textron Announces Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.12%. Textron's dividend payout ratio (DPR) is 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.