Textron Inc. (NYSE:TXT) Shares Acquired by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. increased its stake in shares of Textron Inc. (NYSE:TXT) by 5.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,450 shares of the aerospace company’s stock after purchasing an additional 1,319 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Textron were worth $1,870,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in TXT. Raymond James Financial Inc. acquired a new stake in shares of Textron during the 4th quarter worth about $41,451,000. International Assets Investment Management LLC acquired a new stake in Textron during the fourth quarter worth approximately $11,523,000. Bank of New York Mellon Corp boosted its position in Textron by 7.9% during the fourth quarter. Bank of New York Mellon Corp now owns 1,428,377 shares of the aerospace company’s stock worth $109,257,000 after acquiring an additional 104,982 shares during the last quarter. National Bank of Canada FI grew its stake in Textron by 161.8% in the 3rd quarter. National Bank of Canada FI now owns 145,174 shares of the aerospace company’s stock worth $12,860,000 after acquiring an additional 89,724 shares during the period. Finally, Proficio Capital Partners LLC acquired a new position in Textron in the 4th quarter valued at $6,512,000. Institutional investors and hedge funds own 86.03% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Citigroup decreased their price objective on Textron from $118.00 to $111.00 and set a “buy” rating on the stock in a report on Tuesday, January 21st. Vertical Research raised Textron from a “hold” rating to a “buy” rating and set a $91.00 price target on the stock in a research note on Monday, January 6th. JPMorgan Chase & Co. dropped their price objective on shares of Textron from $90.00 to $88.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Barclays cut their price objective on shares of Textron from $104.00 to $95.00 and set an “overweight” rating on the stock in a report on Monday, December 23rd. Finally, Morgan Stanley lowered their target price on shares of Textron from $86.00 to $82.00 and set an “equal weight” rating for the company in a 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 company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $93.45.

Insiders Place Their Bets

In other news, VP Mark S. Bamford sold 5,451 shares of Textron 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 sale, the vice president now owns 18,223 shares in the company, 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 available at this hyperlink. 1.70% of the stock is owned by company insiders.

Textron Price Performance

Textron stock opened at $73.38 on Friday. The firm has a fifty day moving average of $75.06 and a 200-day moving average of $81.28. Textron Inc. has a 52-week low of $70.14 and a 52-week high of $97.34. The company has a quick ratio of 0.84, a current ratio of 1.76 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $13.33 billion, a P/E ratio of 17.02, a PEG ratio of 1.18 and a beta of 1.26.

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

Textron Announces Dividend

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 given a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.11%. The ex-dividend date of this dividend is Friday, March 14th. Textron’s dividend payout ratio (DPR) is presently 1.86%.

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.