233,175 Shares in Textron Inc. (NYSE:TXT) Purchased by Todd Asset Management LLC

Todd Asset Management LLC acquired a new stake in shares of Textron Inc. (NYSE:TXT) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 233,175 shares of the aerospace company’s stock, valued at approximately $18,752,000.

Other large investors have also bought and sold shares of the company. CVA Family Office LLC bought a new stake in shares of Textron during the fourth quarter valued at approximately $29,000. Trust Co. of Vermont purchased a new stake in Textron during the 3rd quarter valued at $37,000. Morton Brown Family Wealth LLC bought a new stake in shares of Textron in the 4th quarter worth $40,000. Provence Wealth Management Group purchased a new position in shares of Textron in the third quarter worth $39,000. Finally, Benjamin F. Edwards & Company Inc. lifted its holdings in shares of Textron by 677.1% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 544 shares of the aerospace company’s stock valued at $44,000 after purchasing an additional 474 shares in the last quarter. 86.03% of the stock is owned by hedge funds and other institutional investors.

Textron Price Performance

Shares of TXT traded up $0.22 during mid-day trading on Friday, reaching $85.59. The stock had a trading volume of 1,388,861 shares, compared to its average volume of 1,389,966. The firm has a market cap of $16.32 billion, a price-to-earnings ratio of 18.28, a PEG ratio of 1.35 and a beta of 1.32. Textron Inc. has a 12 month low of $61.27 and a 12 month high of $97.33. The business has a fifty day moving average of $92.10 and a 200 day moving average of $84.09. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.84 and a current ratio of 1.81.

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

Textron Announces Dividend

The firm 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 dividend on an annualized basis and a yield of 0.09%. Textron’s dividend payout ratio is presently 1.71%.

Analysts Set New Price Targets

Several equities analysts have issued reports on TXT shares. StockNews.com cut shares of Textron from a “strong-buy” rating to a “buy” rating in a research note on Friday, April 26th. Bank of America upgraded shares of Textron from a “neutral” rating to a “buy” rating and boosted their target price for the company from $85.00 to $105.00 in a research note on Friday, March 8th. Citigroup lifted their price objective on Textron from $104.00 to $111.00 and gave the stock a “buy” rating in a report on Thursday, April 4th. UBS Group raised their target price on Textron from $77.00 to $81.00 and gave the stock a “sell” rating in a research report on Friday, January 26th. Finally, Susquehanna lowered their price objective on shares of Textron from $110.00 to $105.00 and set a “positive” rating on the stock in a research note on Friday, April 26th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $95.63.

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.