Wellington Management Group LLP Boosts Stake in Textron Inc. (NYSE:TXT)

Wellington Management Group LLP boosted its stake in Textron Inc. (NYSE:TXT) by 3.9% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 407,233 shares of the aerospace company’s stock after acquiring an additional 15,162 shares during the period. Wellington Management Group LLP’s holdings in Textron were worth $32,750,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. CVA Family Office LLC purchased a new stake in Textron in the 4th quarter valued at approximately $29,000. Trust Co. of Vermont purchased a new stake in Textron in the 3rd quarter valued at approximately $37,000. Morton Brown Family Wealth LLC purchased a new stake in Textron in the 4th quarter valued at approximately $40,000. Jones Financial Companies Lllp lifted its stake in Textron by 200.0% in the 4th quarter. Jones Financial Companies Lllp now owns 507 shares of the aerospace company’s stock valued at $41,000 after buying an additional 338 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. lifted its stake in shares of Textron by 677.1% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 544 shares of the aerospace company’s stock worth $44,000 after purchasing an additional 474 shares during the period. Hedge funds and other institutional investors own 86.03% of the company’s stock.

Textron Trading Up 0.9 %

TXT stock opened at $87.48 on Tuesday. The company has a market cap of $16.68 billion, a price-to-earnings ratio of 18.69, a PEG ratio of 1.37 and a beta of 1.28. The company has a quick ratio of 0.84, a current ratio of 1.81 and a debt-to-equity ratio of 0.46. The business has a fifty day simple moving average of $87.82 and a 200-day simple moving average of $86.83. Textron Inc. has a 52 week low of $64.62 and a 52 week high of $97.33.

Textron (NYSE:TXT) last announced its quarterly earnings results on Thursday, April 25th. The aerospace company reported $1.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.28 by ($0.08). Textron had a net margin of 6.75% and a return on equity of 16.30%. The company had revenue of $3.14 billion during the quarter, compared to analyst estimates of $3.29 billion. During the same quarter in the prior year, the company posted $1.05 earnings per share. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. On average, equities research analysts expect that Textron Inc. will post 6.27 EPS for the current year.

Textron Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be issued a $0.02 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.08 annualized dividend and a yield of 0.09%. Textron’s dividend payout ratio is currently 1.71%.

Analysts Set New Price Targets

A number of research analysts have weighed in on TXT shares. Susquehanna reduced their price target on Textron from $110.00 to $105.00 and set a “positive” rating on the stock in a research note on Friday, April 26th. Bank of America raised Textron from a “neutral” rating to a “buy” rating and increased their price target for the stock from $85.00 to $105.00 in a research note on Friday, March 8th. The Goldman Sachs Group increased their price target on Textron from $103.00 to $120.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Citigroup increased their price target on Textron from $104.00 to $111.00 and gave the stock a “buy” rating in a research note on Thursday, April 4th. Finally, StockNews.com lowered Textron from a “strong-buy” rating to a “buy” rating in a research note on Friday, April 26th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $99.29.

Insider Activity at Textron

In related news, Director Kathleen M. Bader sold 11,870 shares of the stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $87.91, for a total value of $1,043,491.70. Following the completion of the sale, the director now directly owns 3,756 shares in the company, valued at approximately $330,189.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.70% of the stock is owned by insiders.

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.