Price T Rowe Associates Inc. MD Grows Position in Textron Inc. (NYSE:TXT)

Price T Rowe Associates Inc. MD grew its position in shares of Textron Inc. (NYSE:TXT) by 0.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,629,980 shares of the aerospace company’s stock after acquiring an additional 2,725 shares during the quarter. Price T Rowe Associates Inc. MD owned 1.42% of Textron worth $201,168,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Invesco Ltd. boosted its position in Textron by 17.8% in the fourth quarter. Invesco Ltd. now owns 7,733,335 shares of the aerospace company’s stock worth $591,523,000 after purchasing an additional 1,167,105 shares during the last quarter. Boston Partners boosted its holdings in shares of Textron by 4.7% in the 4th quarter. Boston Partners now owns 7,483,692 shares of the aerospace company’s stock worth $572,465,000 after buying an additional 333,127 shares during the last quarter. Geode Capital Management LLC grew its position in Textron by 3.7% during the fourth quarter. Geode Capital Management LLC now owns 4,595,861 shares of the aerospace company’s stock valued at $350,619,000 after buying an additional 164,964 shares during the period. Brandes Investment Partners LP increased its holdings in Textron by 19.4% during the fourth quarter. Brandes Investment Partners LP now owns 1,859,703 shares of the aerospace company’s stock worth $142,249,000 after buying an additional 302,712 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Textron by 0.5% in the fourth 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. Institutional investors own 86.03% of the company’s stock.

Insider Buying and Selling at Textron

In related news, VP Mark S. Bamford sold 5,451 shares of the company’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 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.70% of the stock is currently owned by company insiders.

Textron Stock Up 1.0 %

Shares of NYSE:TXT opened at $68.59 on Friday. The firm has a fifty day moving average price of $70.22 and a two-hundred day moving average price of $77.04. The company has a market cap of $12.46 billion, a price-to-earnings ratio of 15.91, a PEG ratio of 1.18 and a beta of 1.06. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.76 and a quick ratio of 0.84. Textron Inc. has a one year low of $57.70 and a one year high of $94.57.

Textron (NYSE:TXT) last posted its quarterly earnings data on Thursday, April 24th. The aerospace company reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.11. The company had revenue of $3.31 billion during the quarter, compared to analyst estimates of $3.26 billion. Textron had a return on equity of 14.92% and a net margin of 6.01%. Analysts anticipate that Textron Inc. will post 6.12 EPS for the current fiscal year.

Textron Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be paid a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.12%. The ex-dividend date is Friday, June 13th. Textron’s dividend payout ratio is currently 1.81%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on TXT. Vertical Research upgraded shares of Textron from a “hold” rating to a “buy” rating and set a $91.00 price target for the company in a research note on Monday, January 6th. Susquehanna lowered their target price on Textron from $100.00 to $90.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. Bank of America downgraded Textron from a “buy” rating to a “neutral” rating and cut their price target for the stock from $110.00 to $85.00 in a research note on Friday, January 24th. Citigroup cut their target price on shares of Textron from $111.00 to $107.00 and set a “buy” rating for the company in a research report on Thursday, April 10th. Finally, JPMorgan Chase & Co. dropped their price target 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. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Textron presently has a consensus rating of “Hold” and a consensus target price of $89.30.

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.