Todd Asset Management LLC Takes Position in Textron Inc. (NYSE:TXT)

Todd Asset Management LLC bought a new stake in Textron Inc. (NYSE:TXT) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 233,175 shares of the aerospace company’s stock, valued at approximately $18,752,000. Todd Asset Management LLC owned about 0.12% of Textron as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of TXT. Lindbrook Capital LLC boosted its stake in shares of Textron by 18.6% during the 4th quarter. Lindbrook Capital LLC now owns 777 shares of the aerospace company’s stock worth $62,000 after acquiring an additional 122 shares during the period. Allworth Financial LP raised its position in shares of Textron by 12.0% in the fourth quarter. Allworth Financial LP now owns 1,283 shares of the aerospace company’s stock valued at $103,000 after purchasing an additional 137 shares during the period. Quent Capital LLC lifted its stake in shares of Textron by 29.2% during the 4th quarter. Quent Capital LLC now owns 633 shares of the aerospace company’s stock worth $51,000 after buying an additional 143 shares during the last quarter. Financial Advocates Investment Management boosted its holdings in shares of Textron by 3.3% during the 3rd quarter. Financial Advocates Investment Management now owns 5,208 shares of the aerospace company’s stock worth $407,000 after buying an additional 168 shares during the period. Finally, Greenleaf Trust grew its stake in Textron by 4.0% in the 3rd quarter. Greenleaf Trust now owns 4,401 shares of the aerospace company’s stock valued at $344,000 after buying an additional 171 shares during the last quarter. Institutional investors own 86.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on TXT shares. Susquehanna cut their price objective on shares of Textron from $110.00 to $105.00 and set a “positive” rating for the company in a research report on Friday, April 26th. Bank of America upgraded Textron from a “neutral” rating to a “buy” rating and boosted their price target for the company from $85.00 to $105.00 in a research note on Friday, March 8th. StockNews.com downgraded Textron from a “strong-buy” rating to a “buy” rating in a report on Friday, April 26th. Citigroup upped their price target on shares of Textron from $104.00 to $111.00 and gave the company a “buy” rating in a research note on Thursday, April 4th. Finally, The Goldman Sachs Group lifted their price objective on shares of Textron from $103.00 to $120.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $95.63.

Textron Price Performance

TXT traded up $0.22 during trading on Friday, hitting $85.59. 1,388,861 shares of the stock traded hands, compared to its average volume of 1,389,966. The business has a 50 day moving average price of $92.10 and a 200 day moving average price of $84.09. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.81 and a quick ratio of 0.84. Textron Inc. has a twelve month low of $61.27 and a twelve month high of $97.33. The company 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 (NYSE:TXT) last posted its quarterly earnings results on Thursday, April 25th. The aerospace company reported $1.20 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 for the quarter, compared to analyst estimates of $3.29 billion. During the same period last year, the firm posted $1.05 EPS. Textron’s quarterly revenue was up 3.7% on a year-over-year basis. Equities research analysts forecast that Textron Inc. will post 6.27 earnings per share for the current fiscal year.

Textron Announces Dividend

The business 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 dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.09%. The ex-dividend date of this dividend is Friday, June 14th. Textron’s dividend payout ratio (DPR) is presently 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.