Virtu Financial LLC Purchases 5,736 Shares of Textron Inc. (NYSE:TXT)

Virtu Financial LLC lifted its holdings in shares of Textron Inc. (NYSE:TXT - Free Report) by 188.3% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 8,782 shares of the aerospace company's stock after purchasing an additional 5,736 shares during the period. Virtu Financial LLC's holdings in Textron were worth $672,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. True Wealth Design LLC acquired a new position in shares of Textron in the 3rd quarter valued at $26,000. SBI Securities Co. Ltd. bought a new stake in shares of Textron in the 4th quarter valued at about $31,000. Truvestments Capital LLC acquired a new stake in shares of Textron in the 3rd quarter valued at approximately $43,000. Eastern Bank bought a new position in Textron during the 4th quarter worth approximately $42,000. Finally, Golden State Wealth Management LLC acquired a new position in Textron during the fourth quarter valued at approximately $63,000. Institutional investors and hedge funds own 86.03% of the company's stock.

Textron Stock Down 3.1 %

TXT stock traded down $2.36 during midday trading on Friday, hitting $72.92. The company's stock had a trading volume of 1,075,585 shares, compared to its average volume of 1,153,198. The company's fifty day moving average price is $74.62 and its 200 day moving average price is $80.35. Textron Inc. has a twelve month low of $70.14 and a twelve month high of $97.34. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.76 and a quick ratio of 0.84. The stock has a market capitalization of $13.24 billion, a P/E ratio of 16.92, a PEG ratio of 1.18 and a beta of 1.27.

Remove Ads

Textron (NYSE:TXT - Get Free Report) last released its earnings results 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 business had revenue of $3.61 billion for the quarter, compared to analyst estimates 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 quarter in the prior year, the company posted $1.60 earnings per share. As a group, equities research analysts predict that Textron Inc. will post 6.12 EPS for the current year.

Textron Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be issued a dividend of $0.02 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.08 dividend on an annualized basis and a yield of 0.11%. Textron's payout ratio is 1.86%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on TXT. TD Cowen raised shares of Textron to a "hold" rating in a research report on Monday, February 24th. Morgan Stanley lowered their price target on Textron from $86.00 to $82.00 and set an "equal weight" rating for the company in a report on Thursday, January 23rd. Bank of America lowered Textron from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $110.00 to $85.00 in a research report on Friday, January 24th. JPMorgan Chase & Co. decreased their price objective on Textron from $90.00 to $88.00 and set a "neutral" rating for the company in a research report on Thursday, January 16th. Finally, Robert W. Baird cut their price target 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. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Textron presently has a consensus rating of "Moderate Buy" and an average price target of $93.45.

Insiders Place Their Bets

In other news, VP Mark S. Bamford sold 5,451 shares of the firm's stock in a transaction that occurred 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 sale, the vice president now directly owns 18,223 shares of the company's stock, valued at $1,324,447.64. This trade represents a 23.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 1.70% of the company's stock.

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.