Textron Inc. (NYSE:TXT) Shares Bought by Millennium Management LLC

Millennium Management LLC boosted its stake in shares of Textron Inc. (NYSE:TXT) by 13.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 486,680 shares of the aerospace company’s stock after buying an additional 57,275 shares during the quarter. Millennium Management LLC owned 0.26% of Textron worth $37,226,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wellington Management Group LLP grew its position in Textron by 50.2% during the fourth quarter. Wellington Management Group LLP now owns 603,171 shares of the aerospace company’s stock worth $46,137,000 after buying an additional 201,696 shares during the period. Merit Financial Group LLC grew its position in Textron by 5.9% during the fourth 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 period. Empowered Funds LLC grew its position in 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 buying an additional 4,480 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Textron by 44.6% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,390 shares of the aerospace company’s stock valued at $1,343,000 after purchasing an additional 5,367 shares during the last quarter. Finally, Todd Asset Management LLC grew its position in shares of Textron by 1.8% in the fourth quarter. Todd Asset Management LLC now owns 470,292 shares of the aerospace company’s stock valued at $35,973,000 after purchasing an additional 8,198 shares during the last quarter. 86.03% of the stock is currently owned by institutional investors and hedge funds.

Textron Stock Performance

Shares of TXT opened at $76.69 on Friday. 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 market capitalization of $13.84 billion, a price-to-earnings ratio of 17.79, a PEG ratio of 1.18 and a beta of 1.20. The company’s 50 day simple moving average is $69.99 and its 200 day simple moving average is $75.61. Textron Inc. has a 1 year low of $57.70 and a 1 year high of $94.57.

Textron (NYSE:TXT) last announced its quarterly earnings data on Thursday, April 24th. The aerospace company reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.11. The business had revenue of $3.31 billion for 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 company’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.20 earnings per share. On average, sell-side analysts predict that Textron Inc. will post 6.12 EPS for the current year.

Textron Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be paid a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.10%. The ex-dividend date is Friday, June 13th. Textron’s dividend payout ratio is currently 1.81%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Citigroup lowered their price target on shares of Textron from $111.00 to $107.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. TD Cowen upgraded shares of Textron to a “hold” rating in a research report on Monday, February 24th. Robert W. Baird lowered their price target 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. Bank of America lowered shares of Textron from a “buy” rating to a “neutral” rating and lowered their price target for the company from $110.00 to $85.00 in a research report on Friday, January 24th. Finally, UBS Group increased their price target on shares of Textron from $62.00 to $63.00 and gave the company a “sell” rating in a research report on Monday, April 28th. One analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Textron presently has a consensus rating of “Hold” and an average price target of $87.70.

Insiders Place Their Bets

In other Textron news, VP Mark S. Bamford sold 5,451 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at $1,324,447.64. This trade represents a 23.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.70% of the stock is currently 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.