Candriam S.C.A. Acquires Shares of 6,171 Textron Inc. (NYSE:TXT)

Candriam S.C.A. acquired a new stake in shares of Textron Inc. (NYSE:TXT) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 6,171 shares of the aerospace company’s stock, valued at approximately $472,000.

Other large investors have also recently added to or reduced their stakes in the company. Merit Financial Group LLC lifted its position in shares of Textron by 5.9% in the 4th quarter. Merit Financial Group LLC now owns 4,784 shares of the aerospace company’s stock worth $366,000 after buying an additional 265 shares during the last quarter. Empowered Funds LLC lifted its position in shares of Textron by 28.6% in the 4th quarter. Empowered Funds LLC now owns 20,132 shares of the aerospace company’s stock worth $1,540,000 after buying an additional 4,480 shares during the last quarter. Franklin Resources Inc. lifted its position in shares of Textron by 10.3% in the 3rd quarter. Franklin Resources Inc. now owns 164,029 shares of the aerospace company’s stock worth $14,505,000 after buying an additional 15,294 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Textron by 44.6% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,390 shares of the aerospace company’s stock worth $1,343,000 after buying an additional 5,367 shares during the last quarter. Finally, Todd Asset Management LLC lifted its position in shares of Textron by 1.8% in the 4th quarter. Todd Asset Management LLC now owns 470,292 shares of the aerospace company’s stock worth $35,973,000 after buying an additional 8,198 shares during the last quarter. 86.03% of the stock is currently owned by institutional investors.

Textron Stock Up 0.1 %

Textron stock opened at $75.48 on Tuesday. The stock has a market cap of $13.71 billion, a price-to-earnings ratio of 17.51, a PEG ratio of 1.18 and a beta of 1.27. The company has a current ratio of 1.76, a quick ratio of 0.84 and a debt-to-equity ratio of 0.45. The company’s 50-day moving average price is $75.31 and its two-hundred day moving average price is $81.64. Textron Inc. has a 52 week low of $70.14 and a 52 week high of $97.34.

Textron (NYSE:TXT) last released its earnings results on Wednesday, January 22nd. The aerospace company reported $1.34 EPS for the quarter, beating the consensus estimate of $1.27 by $0.07. The firm had revenue of $3.61 billion for the quarter, compared to analysts’ expectations of $3.78 billion. Textron had a net margin of 6.01% and a return on equity of 14.92%. Textron’s quarterly revenue was down 7.2% on a year-over-year basis. During the same quarter last year, the company earned $1.60 EPS. On average, analysts expect that Textron Inc. will post 6.12 EPS for the current fiscal year.

Textron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid 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%.

Insider Buying and Selling

In related news, VP Mark S. Bamford sold 5,451 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $72.68, for a total value of $396,178.68. Following the sale, the vice president now directly owns 18,223 shares in the company, valued at $1,324,447.64. The trade was a 23.03 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 1.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on TXT. TD Cowen upgraded shares of Textron to a “hold” rating in a research report on Monday, February 24th. Barclays reduced their price target on shares of Textron from $104.00 to $95.00 and set an “overweight” rating on the stock in a research report on Monday, December 23rd. Vertical Research upgraded shares of Textron from a “hold” rating to a “buy” rating and set a $91.00 price target on the stock in a research report on Monday, January 6th. Morgan Stanley cut 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 report on Thursday, January 23rd. Finally, Robert W. Baird cut their price objective on shares of Textron from $100.00 to $92.00 and set an “outperform” rating on the stock in a research report on Thursday, January 23rd. One investment 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 data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $93.45.

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.