Textron Inc. (NYSE:TXT) Shares Acquired by Neuberger Berman Group LLC

Neuberger Berman Group LLC lifted its holdings in shares of Textron Inc. (NYSE:TXT) by 1.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 781,194 shares of the aerospace company’s stock after buying an additional 12,175 shares during the period. Neuberger Berman Group LLC owned 0.42% of Textron worth $59,754,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Stifel Financial Corp lifted its stake in Textron by 4.8% during the third quarter. Stifel Financial Corp now owns 148,776 shares of the aerospace company’s stock valued at $13,179,000 after purchasing an additional 6,822 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of Textron by 18.0% during the third quarter. Wellington Management Group LLP now owns 401,475 shares of the aerospace company’s stock valued at $35,563,000 after acquiring an additional 61,248 shares during the period. iA Global Asset Management Inc. raised its holdings in shares of Textron by 17.5% during the third quarter. iA Global Asset Management Inc. now owns 3,577 shares of the aerospace company’s stock valued at $317,000 after acquiring an additional 534 shares during the period. National Bank of Canada FI increased its stake in Textron by 161.8% in the 3rd quarter. National Bank of Canada FI now owns 145,174 shares of the aerospace company’s stock valued at $12,860,000 after buying an additional 89,724 shares during the period. Finally, MML Investors Services LLC increased its stake in Textron by 18.4% in the 3rd quarter. MML Investors Services LLC now owns 26,505 shares of the aerospace company’s stock valued at $2,348,000 after buying an additional 4,110 shares during the period. 86.03% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

TXT has been the topic of several research reports. Morgan Stanley dropped their price objective on shares of Textron from $86.00 to $82.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 23rd. TD Cowen raised shares of Textron to a “hold” rating in a research report on Monday, February 24th. 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. Bank of America downgraded shares of Textron from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $110.00 to $85.00 in a research report on Friday, January 24th. Finally, Citigroup decreased their target price on shares of Textron from $118.00 to $111.00 and set a “buy” rating for the company in a research report on Tuesday, January 21st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $93.45.

Insiders Place Their Bets

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. The trade was a 23.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.70% of the stock is currently owned by company insiders.

Textron Stock Performance

Shares of TXT stock opened at $66.87 on Thursday. 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 firm has a market capitalization of $12.14 billion, a price-to-earnings ratio of 15.52, a PEG ratio of 1.18 and a beta of 1.06. The stock has a fifty day moving average of $72.12 and a 200 day moving average of $78.76. Textron Inc. has a 52 week low of $57.70 and a 52 week high of $96.14.

Textron (NYSE:TXT) last released its quarterly 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. Textron had a return on equity of 14.92% and a net margin of 6.01%. The business had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.78 billion. During the same period in the previous year, the company posted $1.60 EPS. The business’s quarterly revenue was down 7.2% compared to the same quarter last year. As a group, research analysts expect that Textron Inc. will post 6.12 earnings per share for the current year.

Textron Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.12%. The ex-dividend date of this dividend was Friday, March 14th. Textron’s dividend payout ratio (DPR) is 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.