Textron Inc. (NYSE:TXT) Shares Bought by Czech National Bank

Czech National Bank raised its stake in Textron Inc. (NYSE:TXT) by 5.4% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 36,340 shares of the aerospace company’s stock after purchasing an additional 1,853 shares during the quarter. Czech National Bank’s holdings in Textron were worth $3,120,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in TXT. LSV Asset Management boosted its holdings in shares of Textron by 15.9% in the 4th quarter. LSV Asset Management now owns 3,793,047 shares of the aerospace company’s stock valued at $305,037,000 after purchasing an additional 521,276 shares during the last quarter. Ferguson Wellman Capital Management Inc. purchased a new position in shares of Textron in the 1st quarter valued at $45,932,000. Brandes Investment Partners LP raised its stake in shares of Textron by 49.3% in the 4th quarter. Brandes Investment Partners LP now owns 1,235,966 shares of the aerospace company’s stock valued at $99,396,000 after acquiring an additional 408,290 shares during the period. Canada Pension Plan Investment Board raised its stake in shares of Textron by 1,611.9% in the 1st quarter. Canada Pension Plan Investment Board now owns 433,100 shares of the aerospace company’s stock valued at $41,547,000 after acquiring an additional 407,800 shares during the period. Finally, International Assets Investment Management LLC purchased a new position in shares of Textron in the 4th quarter valued at $31,713,000. Institutional investors and hedge funds own 86.03% of the company’s stock.

Insider Buying and Selling at Textron

In other Textron news, Director Kathleen M. Bader sold 11,870 shares of the business’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $87.91, for a total transaction of $1,043,491.70. Following the sale, the director now directly owns 3,756 shares in the company, valued at approximately $330,189.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.70% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. TD Cowen raised their target price on shares of Textron from $100.00 to $103.00 and gave the company a “buy” rating in a research note on Friday, July 19th. The Goldman Sachs Group raised their target price on shares of Textron from $103.00 to $120.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. UBS Group lifted their price target on shares of Textron from $84.00 to $87.00 and gave the stock a “sell” rating in a research note on Friday, July 19th. StockNews.com downgraded shares of Textron from a “strong-buy” rating to a “buy” rating in a research note on Friday, April 26th. Finally, Susquehanna dropped their price target 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 issued a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $102.50.

Textron Stock Performance

Shares of NYSE TXT traded down $0.15 during midday trading on Monday, hitting $84.98. The company’s stock had a trading volume of 182,200 shares, compared to its average volume of 1,118,351. Textron Inc. has a 1-year low of $73.78 and a 1-year high of $97.33. The firm’s fifty day moving average price is $87.65 and its 200-day moving average price is $89.00. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.81 and a current ratio of 1.79. The firm has a market cap of $16.21 billion, a P/E ratio of 18.19, a P/E/G ratio of 1.35 and a beta of 1.25.

Textron (NYSE:TXT) last posted its earnings results on Thursday, July 18th. The aerospace company reported $1.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.48 by $0.06. The firm had revenue of $3.53 billion during the quarter, compared to analyst estimates of $3.56 billion. Textron had a net margin of 6.67% and a return on equity of 16.41%. Textron’s revenue was up 3.0% on a year-over-year basis. During the same period in the previous year, the business posted $1.46 EPS. On average, sell-side analysts forecast that Textron Inc. will post 6.26 EPS for the current fiscal year.

Textron Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 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 0.09%. The ex-dividend date of this dividend is Friday, September 13th. Textron’s payout ratio is 1.71%.

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.