Balyasny Asset Management L.P. Purchases 1,218,485 Shares of Textron Inc. (NYSE:TXT)

Balyasny Asset Management L.P. increased its holdings in shares of Textron Inc. (NYSE:TXT) by 6,785.9% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 1,236,441 shares of the aerospace company’s stock after purchasing an additional 1,218,485 shares during the period. Balyasny Asset Management L.P. owned 0.67% of Textron worth $94,575,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of TXT. Pflug Koory LLC boosted its stake in shares of Textron by 0.9% during the 4th quarter. Pflug Koory LLC now owns 13,778 shares of the aerospace company’s stock worth $1,054,000 after acquiring an additional 125 shares during the period. V Square Quantitative Management LLC lifted its holdings in Textron by 5.7% during the 4th quarter. V Square Quantitative Management LLC now owns 2,611 shares of the aerospace company’s stock valued at $200,000 after purchasing an additional 141 shares during the last quarter. Syon Capital LLC boosted its position in Textron by 4.5% during the fourth quarter. Syon Capital LLC now owns 3,538 shares of the aerospace company’s stock worth $271,000 after purchasing an additional 153 shares during the period. Patriot Financial Group Insurance Agency LLC increased its holdings in shares of Textron by 5.8% in the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 2,977 shares of the aerospace company’s stock valued at $228,000 after purchasing an additional 163 shares during the last quarter. Finally, Motley Fool Asset Management LLC raised its position in shares of Textron by 6.3% in the fourth quarter. Motley Fool Asset Management LLC now owns 2,732 shares of the aerospace company’s stock valued at $209,000 after purchasing an additional 163 shares during the period. Institutional investors and hedge funds own 86.03% of the company’s stock.

Analyst Upgrades and Downgrades

TXT has been the topic of a number of research reports. Robert W. Baird decreased their price target on shares of Textron from $100.00 to $92.00 and set an “outperform” rating on the stock in a research note on Thursday, January 23rd. Citigroup decreased their target price on Textron from $111.00 to $107.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. UBS Group lifted their price target on Textron from $62.00 to $63.00 and gave the stock a “sell” rating in a report on Monday, April 28th. JPMorgan Chase & Co. decreased their price objective on Textron from $90.00 to $88.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Finally, Morgan Stanley dropped their target price on Textron from $82.00 to $71.00 and set an “equal weight” rating for the company in a report on Friday, April 11th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Textron presently has a consensus rating of “Hold” and a consensus price target of $87.70.

Textron Trading Up 1.2 %

TXT opened at $71.08 on Friday. The company has a quick ratio of 0.84, a current ratio of 1.76 and a debt-to-equity ratio of 0.45. Textron Inc. has a twelve month low of $57.70 and a twelve month high of $94.57. The stock has a market capitalization of $12.83 billion, a price-to-earnings ratio of 16.49, a P/E/G ratio of 1.18 and a beta of 1.06. The company has a 50-day simple moving average of $69.98 and a 200 day simple moving average of $76.44.

Textron (NYSE:TXT) last issued its quarterly earnings results on Thursday, April 24th. The aerospace company reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $1.17 by $0.11. The company had revenue of $3.31 billion during the quarter, compared to the consensus estimate of $3.26 billion. Textron had a net margin of 6.01% and a return on equity of 14.92%. The firm’s quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.20 EPS. Analysts predict that Textron Inc. will post 6.12 EPS for the current fiscal year.

Textron Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be paid a $0.02 dividend. The ex-dividend date is Friday, June 13th. This represents a $0.08 annualized dividend and a dividend yield of 0.11%. Textron’s payout ratio is 1.81%.

Insider Transactions at Textron

In other Textron 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 completion of the transaction, the vice president now 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.70% of the stock is owned by insiders.

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.