Advisors Asset Management Inc. Grows Holdings in Textron Inc. (NYSE:TXT)

Advisors Asset Management Inc. grew its holdings in shares of Textron Inc. (NYSE:TXT) by 9.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 27,711 shares of the aerospace company’s stock after buying an additional 2,338 shares during the quarter. Advisors Asset Management Inc.’s holdings in Textron were worth $2,120,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in TXT. Raymond James Financial Inc. purchased a new position in shares of Textron during the 4th quarter valued at approximately $41,451,000. Brandes Investment Partners LP boosted its stake in shares of Textron by 19.4% during the 4th quarter. Brandes Investment Partners LP now owns 1,859,703 shares of the aerospace company’s stock valued at $142,249,000 after buying an additional 302,712 shares during the last quarter. International Assets Investment Management LLC purchased a new position in shares of Textron during the 4th quarter valued at approximately $11,523,000. Wealthfront Advisers LLC boosted its stake in shares of Textron by 384.7% during the 4th quarter. Wealthfront Advisers LLC now owns 175,347 shares of the aerospace company’s stock valued at $13,412,000 after buying an additional 139,173 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Textron by 7.9% during the fourth quarter. Bank of New York Mellon Corp now owns 1,428,377 shares of the aerospace company’s stock worth $109,257,000 after purchasing an additional 104,982 shares during the last quarter. 86.03% of the stock is currently owned by hedge funds and other institutional investors.

Textron Price Performance

Shares of TXT opened at $73.07 on Friday. The firm has a market capitalization of $13.27 billion, a price-to-earnings ratio of 16.95, a price-to-earnings-growth ratio of 1.18 and a beta of 1.27. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.84 and a current ratio of 1.76. Textron Inc. has a one year low of $70.14 and a one year high of $97.34. The stock’s fifty day moving average is $74.88 and its 200-day moving average is $80.65.

Textron (NYSE:TXT) last issued its quarterly earnings results on Wednesday, January 22nd. The aerospace company reported $1.34 EPS for the quarter, beating analysts’ consensus estimates of $1.27 by $0.07. The company 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%. The company’s quarterly revenue was down 7.2% compared to the same quarter last year. During the same period last year, the company earned $1.60 earnings per share. Equities analysts anticipate that Textron Inc. will post 6.12 EPS for the current year.

Textron Announces Dividend

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

Insider Activity

In other Textron news, VP Mark S. Bamford sold 5,451 shares of the business’s stock in a transaction dated 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 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 can be accessed through this hyperlink. Corporate insiders own 1.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on TXT shares. Bank of America cut Textron from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $110.00 to $85.00 in a research note on Friday, January 24th. Susquehanna reduced their price objective on Textron from $100.00 to $90.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. JPMorgan Chase & Co. reduced 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. Robert W. Baird reduced their price objective on Textron from $100.00 to $92.00 and set an “outperform” rating on the stock in a research note on Thursday, January 23rd. Finally, Vertical Research upgraded Textron from a “hold” rating to a “buy” rating and set a $91.00 price objective on the stock in a research note on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Textron currently has a consensus rating of “Moderate Buy” and a consensus price target of $93.45.

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.