Textron Inc. (NYSE:TXT) Shares Bought by Metis Global Partners LLC

Metis Global Partners LLC lifted its position in shares of Textron Inc. (NYSE:TXT) by 3.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,315 shares of the aerospace company’s stock after buying an additional 199 shares during the quarter. Metis Global Partners LLC’s holdings in Textron were worth $483,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. True Wealth Design LLC purchased a new position in Textron during the 3rd quarter valued at about $26,000. Capital Performance Advisors LLP acquired a new position in shares of Textron in the third quarter valued at approximately $42,000. Truvestments Capital LLC purchased a new position in shares of Textron during the third quarter valued at approximately $43,000. Eastern Bank acquired a new stake in Textron during the fourth quarter worth approximately $42,000. Finally, Venturi Wealth Management LLC grew its position in shares of Textron by 69.5% in the third quarter. Venturi Wealth Management LLC now owns 566 shares of the aerospace company’s stock valued at $50,000 after purchasing an additional 232 shares during the period. 86.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have commented on TXT. Bank of America cut 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 report on Friday, January 24th. Susquehanna lowered their target price on shares of Textron from $100.00 to $90.00 and set a “positive” rating for the company in a report on Wednesday, January 8th. JPMorgan Chase & Co. cut their price target on shares of Textron from $90.00 to $88.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Robert W. Baird lowered their price objective on shares of Textron from $100.00 to $92.00 and set an “outperform” rating for the company in a research note on Thursday, January 23rd. Finally, Citigroup cut their target price on Textron from $118.00 to $111.00 and set a “buy” rating on the stock in a research report on Tuesday, January 21st. 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 company’s stock. Based on data from MarketBeat.com, Textron currently has a consensus rating of “Moderate Buy” and an average target price of $93.45.

Textron Stock Performance

Shares of TXT stock opened at $72.47 on Thursday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.76 and a quick ratio of 0.84. The company’s fifty day moving average price is $75.54 and its two-hundred day moving average price is $82.04. The firm has a market capitalization of $13.23 billion, a P/E ratio of 16.81, a P/E/G ratio of 1.18 and a beta of 1.27. Textron Inc. has a 12 month low of $70.14 and a 12 month high of $97.33.

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

Textron Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be paid a $0.02 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.11%. Textron’s dividend payout ratio (DPR) is presently 1.86%.

Insider Activity 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 value of $396,178.68. Following the completion of the sale, the vice president now directly owns 18,223 shares of the company’s stock, valued at $1,324,447.64. The trade was a 23.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.70% of the stock is currently owned by corporate insiders.

Textron Company Profile

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.