Wellington Management Group LLP Increases Stake in Textron Inc. (NYSE:TXT)

Wellington Management Group LLP grew its stake in shares of Textron Inc. (NYSE:TXT - Free Report) by 50.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 603,171 shares of the aerospace company's stock after purchasing an additional 201,696 shares during the period. Wellington Management Group LLP owned approximately 0.33% of Textron worth $46,137,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in TXT. SBI Securities Co. Ltd. acquired a new position in shares of Textron during the fourth quarter valued at about $31,000. Eastern Bank acquired a new stake in shares of Textron in the 4th quarter worth about $42,000. Golden State Wealth Management LLC acquired a new stake in shares of Textron in the 4th quarter worth about $63,000. McClarren Financial Advisors Inc. purchased a new stake in Textron in the 4th quarter valued at about $68,000. Finally, Geneos Wealth Management Inc. increased its stake in Textron by 33.0% in the 4th quarter. Geneos Wealth Management Inc. now owns 964 shares of the aerospace company's stock valued at $74,000 after buying an additional 239 shares during the last quarter. Institutional investors and hedge funds own 86.03% of the company's stock.

Insiders Place Their Bets

In other Textron news, VP Mark S. Bamford sold 5,451 shares of the firm's stock in a transaction on Monday, February 24th. The shares were sold at an average price of $72.68, for a total value of $396,178.68. Following the sale, the vice president now owns 18,223 shares of the company's stock, valued at $1,324,447.64. This trade 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 the SEC website. Insiders own 1.70% of the company's stock.

Textron Price Performance

NYSE TXT traded down $1.89 on Thursday, hitting $64.89. The stock had a trading volume of 231,513 shares, compared to its average volume of 1,178,940. Textron Inc. has a 52-week low of $57.70 and a 52-week high of $96.14. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.84 and a current ratio of 1.76. The company has a market capitalization of $11.79 billion, a price-to-earnings ratio of 15.07, a price-to-earnings-growth ratio of 1.18 and a beta of 1.06. The firm has a 50-day moving average of $72.12 and a 200-day moving average of $78.76.

Textron (NYSE:TXT - Get Free Report) last issued its earnings results 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 for the quarter, compared to analysts' expectations of $3.78 billion. Textron had a net margin of 6.01% and a return on equity of 14.92%. The firm's revenue was down 7.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.60 EPS. Equities analysts expect that Textron Inc. will post 6.12 EPS for the current year.

Textron Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were issued 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 presently 1.86%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on TXT shares. JPMorgan Chase & Co. decreased their price objective on shares of Textron from $90.00 to $88.00 and set a "neutral" rating for the company in a research note on Thursday, January 16th. Vertical Research raised 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. Barclays reduced their target price on shares of Textron from $104.00 to $95.00 and set an "overweight" rating for the company in a research report on Monday, December 23rd. Robert W. Baird reduced their target price on shares of Textron from $100.00 to $92.00 and set an "outperform" rating for the company in a research report on Thursday, January 23rd. Finally, Susquehanna cut their price objective on shares of Textron from $100.00 to $90.00 and set a "positive" rating for the company in a report on Wednesday, January 8th. 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $93.45.

Textron Company 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.