Prosperity Financial Group Inc. Boosts Stock Holdings in Textron Inc. (NYSE:TXT)

Prosperity Financial Group Inc. boosted its position in Textron Inc. (NYSE:TXT) by 19.7% during the 4th quarter, Holdings Channel.com reports. The firm owned 5,483 shares of the aerospace company’s stock after purchasing an additional 901 shares during the period. Prosperity Financial Group Inc.’s holdings in Textron were worth $419,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Merit Financial Group LLC lifted its stake in Textron by 5.9% in the fourth quarter. Merit Financial Group LLC now owns 4,784 shares of the aerospace company’s stock valued at $366,000 after purchasing an additional 265 shares during the last quarter. Empowered Funds LLC lifted its position in shares of Textron by 28.6% during the fourth quarter. Empowered Funds LLC now owns 20,132 shares of the aerospace company’s stock worth $1,540,000 after acquiring an additional 4,480 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of Textron by 10.3% during the third quarter. Franklin Resources Inc. now owns 164,029 shares of the aerospace company’s stock worth $14,505,000 after acquiring an additional 15,294 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Textron by 44.6% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,390 shares of the aerospace company’s stock worth $1,343,000 after acquiring an additional 5,367 shares in the last quarter. Finally, Todd Asset Management LLC lifted its position in shares of Textron by 1.8% during the fourth quarter. Todd Asset Management LLC now owns 470,292 shares of the aerospace company’s stock worth $35,973,000 after acquiring an additional 8,198 shares in the last quarter. Hedge funds and other institutional investors own 86.03% of the company’s stock.

Insider Transactions at Textron

In related news, VP Mark S. Bamford sold 5,451 shares of the business’s stock in a transaction dated Monday, February 24th. The stock was 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 $1,324,447.64. The trade was a 23.03 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.70% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on TXT. Robert W. Baird dropped their target price on Textron from $100.00 to $92.00 and set an “outperform” rating on the stock in a research report on Thursday, January 23rd. Barclays lowered their price objective on Textron from $104.00 to $95.00 and set an “overweight” rating on the stock in a research report on Monday, December 23rd. Bank of America downgraded Textron from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $110.00 to $85.00 in a research report on Friday, January 24th. 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 report on Monday, January 6th. Finally, Morgan Stanley lowered their price objective on Textron from $86.00 to $82.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 23rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $93.45.

Textron Stock Down 2.3 %

Shares of NYSE:TXT opened at $73.67 on Wednesday. The stock has a market capitalization of $13.38 billion, a P/E ratio of 17.09, a price-to-earnings-growth ratio of 1.18 and a beta of 1.26. The stock’s 50-day moving average price is $75.25 and its 200-day moving average price is $81.52. The company has a current ratio of 1.76, a quick ratio of 0.84 and a debt-to-equity ratio of 0.45. Textron Inc. has a 12-month low of $70.14 and a 12-month high of $97.34.

Textron (NYSE:TXT) last released its quarterly earnings data on Wednesday, January 22nd. The aerospace company reported $1.34 EPS for the quarter, topping the consensus estimate of $1.27 by $0.07. The firm had revenue of $3.61 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.60 earnings per share. On average, equities analysts anticipate that Textron Inc. will post 6.12 earnings per share for the current year.

Textron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a $0.02 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.08 annualized dividend and a dividend yield of 0.11%. Textron’s dividend payout ratio is currently 1.86%.

About Textron

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.