Jump Financial LLC Purchases 96,616 Shares of Textron Inc. (NYSE:TXT)

Jump Financial LLC grew its holdings in Textron Inc. (NYSE:TXT) by 2,851.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 100,004 shares of the aerospace company’s stock after acquiring an additional 96,616 shares during the quarter. Jump Financial LLC owned 0.05% of Textron worth $7,649,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of TXT. Invesco Ltd. boosted its holdings in Textron by 17.8% in the 4th quarter. Invesco Ltd. now owns 7,733,335 shares of the aerospace company’s stock valued at $591,523,000 after purchasing an additional 1,167,105 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Textron in the fourth quarter valued at approximately $41,451,000. Boston Partners grew its position in Textron by 4.7% during the fourth 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 in the last quarter. Brandes Investment Partners LP increased its stake in Textron by 19.4% during the 4th quarter. Brandes Investment Partners LP now owns 1,859,703 shares of the aerospace company’s stock worth $142,249,000 after acquiring an additional 302,712 shares during the period. Finally, Wellington Management Group LLP raised its holdings in Textron by 50.2% in the 4th quarter. Wellington Management Group LLP now owns 603,171 shares of the aerospace company’s stock valued at $46,137,000 after acquiring an additional 201,696 shares in the last quarter. 86.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on TXT shares. Robert W. Baird reduced their target price on Textron from $100.00 to $92.00 and set an “outperform” rating on the stock in a report on Thursday, January 23rd. Morgan Stanley decreased their target price on shares of Textron from $82.00 to $71.00 and set an “equal weight” rating on the stock in a report on Friday, April 11th. Bank of America downgraded shares of 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 report on Friday, January 24th. Citigroup decreased their price objective on shares of Textron from $111.00 to $107.00 and set a “buy” rating on the stock in a research note on Thursday, April 10th. Finally, Vertical Research upgraded Textron from a “hold” rating to a “buy” rating and set a $91.00 target price for the company in a research note on Monday, January 6th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $92.09.

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 shares were sold at an average price of $72.68, for a total transaction of $396,178.68. Following the transaction, the vice president now 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.70% of the company’s stock.

Textron Stock Down 0.8 %

Shares of NYSE:TXT opened at $65.48 on Wednesday. Textron Inc. has a 52-week low of $57.70 and a 52-week high of $95.86. The company has a market capitalization of $11.89 billion, a PE ratio of 15.19, a price-to-earnings-growth ratio of 1.18 and a beta of 1.06. 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 fifty day moving average of $71.33 and a 200-day moving average of $78.17.

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, topping 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 analysts’ expectations of $3.78 billion. During the same quarter in the prior year, the firm earned $1.60 EPS. The business’s revenue for the quarter was down 7.2% compared to the same quarter last year. On average, equities analysts predict that Textron Inc. will post 6.12 EPS for the current fiscal year.

Textron Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.08 annualized dividend and a yield of 0.12%. Textron’s dividend payout ratio is presently 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.