Geode Capital Management LLC Has $350.62 Million Holdings in Textron Inc. (NYSE:TXT)

Geode Capital Management LLC lifted its stake in Textron Inc. (NYSE:TXT) by 3.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,595,861 shares of the aerospace company’s stock after acquiring an additional 164,964 shares during the period. Geode Capital Management LLC owned approximately 2.48% of Textron worth $350,619,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Merit Financial Group LLC grew its position in Textron by 5.9% in the 4th quarter. Merit Financial Group LLC now owns 4,784 shares of the aerospace company’s stock worth $366,000 after purchasing an additional 265 shares during the last quarter. Empowered Funds LLC increased its stake in Textron by 28.6% during the fourth quarter. Empowered Funds LLC now owns 20,132 shares of the aerospace company’s stock valued at $1,540,000 after acquiring an additional 4,480 shares during the period. Franklin Resources Inc. increased its stake in Textron by 10.3% during the third quarter. Franklin Resources Inc. now owns 164,029 shares of the aerospace company’s stock valued at $14,505,000 after acquiring an additional 15,294 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in Textron by 44.6% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,390 shares of the aerospace company’s stock valued at $1,343,000 after acquiring an additional 5,367 shares in the last quarter. Finally, Todd Asset Management LLC grew its holdings in shares of Textron by 1.8% during the 4th quarter. Todd Asset Management LLC now owns 470,292 shares of the aerospace company’s stock worth $35,973,000 after purchasing an additional 8,198 shares in the last quarter. Institutional investors own 86.03% of the company’s stock.

Textron Trading Down 9.5 %

Shares of TXT opened at $60.54 on Friday. The stock has a fifty day moving average price of $73.49 and a two-hundred day moving average price of $79.62. 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 cap of $11.00 billion, a price-to-earnings ratio of 14.05, a PEG ratio of 1.18 and a beta of 1.27. Textron Inc. has a 52-week low of $60.38 and a 52-week high of $97.34.

Textron (NYSE:TXT) last issued its quarterly 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 the consensus estimate of $3.78 billion. Textron had a net margin of 6.01% and a return on equity of 14.92%. The firm’s quarterly revenue was down 7.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.60 EPS. Analysts predict that Textron Inc. will post 6.12 EPS for the current fiscal year.

Textron Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were issued a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.13%. The ex-dividend date was Friday, March 14th. Textron’s dividend payout ratio is currently 1.86%.

Wall Street Analyst Weigh In

TXT has been the subject of a number of recent research reports. Bank of America lowered Textron from a “buy” rating to a “neutral” rating and cut their target price for the company from $110.00 to $85.00 in a research note on Friday, January 24th. Vertical Research raised shares of Textron from a “hold” rating to a “buy” rating and set a $91.00 price objective for the company in a report on Monday, January 6th. Robert W. Baird lowered their target price 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. Citigroup cut their price target on shares of Textron from $118.00 to $111.00 and set a “buy” rating for the company in a research note on Tuesday, January 21st. Finally, JPMorgan Chase & Co. lowered their price objective on Textron from $90.00 to $88.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $93.45.

Insider Buying and Selling

In other 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 sale, the vice president now directly owns 18,223 shares of the company’s stock, valued at approximately $1,324,447.64. This trade represents a 23.03 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.70% of the stock is currently owned by corporate insiders.

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.