Franklin Resources Inc. Has $6.61 Million Position in Textron Inc. (NYSE:TXT)

Franklin Resources Inc. decreased its holdings in shares of Textron Inc. (NYSE:TXT - Free Report) by 47.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 86,473 shares of the aerospace company's stock after selling 77,556 shares during the quarter. Franklin Resources Inc.'s holdings in Textron were worth $6,614,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Boston Partners raised its stake in 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 buying an additional 333,127 shares in the last quarter. Brandes Investment Partners LP increased its position in Textron by 19.4% during the 4th quarter. Brandes Investment Partners LP now owns 1,859,703 shares of the aerospace company's stock worth $142,249,000 after purchasing an additional 302,712 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake 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 acquiring an additional 7,610 shares during the period. Bank of New York Mellon Corp increased its stake in Textron by 7.9% in the fourth 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 purchasing an additional 104,982 shares during the last quarter. Finally, Wellington Management Group LLP boosted its position 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 worth $46,137,000 after acquiring an additional 201,696 shares during the last quarter. Institutional investors and hedge funds own 86.03% of the company's stock.

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Insider Transactions at Textron

In other Textron news, VP Mark S. Bamford sold 5,451 shares of Textron 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 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 document filed with the SEC, which can be accessed through this hyperlink. 1.70% of the stock is owned by insiders.

Textron Stock Performance

Shares of NYSE:TXT traded up $0.25 during trading on Tuesday, reaching $66.24. The stock had a trading volume of 110,926 shares, compared to its average volume of 1,181,945. The firm has a market capitalization of $12.03 billion, a price-to-earnings ratio of 15.36, a P/E/G ratio of 1.18 and a beta of 1.06. The stock has a fifty day simple moving average of $71.53 and a two-hundred day simple moving average of $78.26. Textron Inc. has a 52 week low of $57.70 and a 52 week high of $95.86. The company has a quick ratio of 0.84, a current ratio of 1.76 and a debt-to-equity ratio of 0.45.

Textron (NYSE:TXT - Get Free Report) last announced its quarterly earnings data on Wednesday, January 22nd. The aerospace company reported $1.34 EPS for the quarter, topping analysts' consensus estimates of $1.27 by $0.07. The company had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.78 billion. Textron had a return on equity of 14.92% and a net margin of 6.01%. The company's quarterly revenue was down 7.2% on a year-over-year basis. During the same quarter last year, the company earned $1.60 EPS. As a group, analysts anticipate that Textron Inc. will post 6.12 earnings per share for the current fiscal year.

Textron Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were given a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.12%. The ex-dividend date of this dividend was Friday, March 14th. Textron's dividend payout ratio (DPR) is 1.86%.

Analysts Set New Price Targets

TXT has been the subject of a number of recent research reports. Robert W. Baird lowered their target price on Textron from $100.00 to $92.00 and set an "outperform" rating for the company in a research note on Thursday, January 23rd. Citigroup decreased their target price on Textron from $111.00 to $107.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. JPMorgan Chase & Co. dropped their price objective 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. 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 report on Friday. Finally, TD Cowen upgraded Textron to a "hold" rating in a research report on Monday, February 24th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $92.09.

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.