Massachusetts Financial Services Co. MA Raises Holdings in Textron Inc. (NYSE:TXT)

Massachusetts Financial Services Co. MA boosted its stake in Textron Inc. (NYSE:TXT) by 12.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 89,780 shares of the aerospace company’s stock after buying an additional 9,807 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Textron were worth $6,867,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the stock. Pflug Koory LLC boosted its stake in shares of Textron by 0.9% during the fourth quarter. Pflug Koory LLC now owns 13,778 shares of the aerospace company’s stock valued at $1,054,000 after acquiring an additional 125 shares during the last quarter. V Square Quantitative Management LLC boosted its stake in shares of Textron by 5.7% during the 4th quarter. V Square Quantitative Management LLC now owns 2,611 shares of the aerospace company’s stock worth $200,000 after purchasing an additional 141 shares during the last quarter. Patriot Financial Group Insurance Agency LLC boosted its stake in shares of Textron by 5.8% during the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 2,977 shares of the aerospace company’s stock worth $228,000 after purchasing an additional 163 shares during the last quarter. Foundations Investment Advisors LLC grew its holdings in shares of Textron by 4.1% during the fourth quarter. Foundations Investment Advisors LLC now owns 4,272 shares of the aerospace company’s stock worth $327,000 after buying an additional 169 shares in the last quarter. Finally, Uncommon Cents Investing LLC lifted its stake in shares of Textron by 2.2% during the fourth quarter. Uncommon Cents Investing LLC now owns 7,985 shares of the aerospace company’s stock valued at $611,000 after buying an additional 175 shares during the period. Institutional investors and hedge funds own 86.03% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on TXT shares. Robert W. Baird lowered their target price on shares of Textron from $100.00 to $92.00 and set an “outperform” rating for the company in a research note on Thursday, January 23rd. Citigroup dropped their target price on Textron from $118.00 to $111.00 and set a “buy” rating for the company in a research note on Tuesday, January 21st. Morgan Stanley decreased their price target on Textron from $86.00 to $82.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 23rd. JPMorgan Chase & Co. lowered their price target on Textron from $90.00 to $88.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Finally, Bank of America lowered shares of Textron from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $110.00 to $85.00 in a report on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $93.45.

Insider Transactions at Textron

In other news, VP Mark S. Bamford sold 5,451 shares of the stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $72.68, for a total transaction 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. This represents a 23.03 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.70% of the company’s stock.

Textron Stock Performance

Shares of TXT opened at $61.04 on Tuesday. The firm has a market cap of $11.09 billion, a price-to-earnings ratio of 14.16, a PEG ratio of 1.18 and a beta of 1.06. The company has a quick ratio of 0.84, a current ratio of 1.76 and a debt-to-equity ratio of 0.45. The business’s 50 day moving average is $73.14 and its two-hundred day moving average is $79.30. Textron Inc. has a 52-week low of $57.70 and a 52-week high of $97.34.

Textron (NYSE:TXT) last issued its earnings results on Wednesday, January 22nd. The aerospace company reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 net margin of 6.01% and a return on equity of 14.92%. The company’s revenue for the quarter was down 7.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.60 EPS. Analysts forecast that Textron Inc. will post 6.12 EPS for the current fiscal year.

Textron Announces Dividend

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

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.