iA Global Asset Management Inc. Purchases 12,128 Shares of Textron Inc. (NYSE:TXT)

iA Global Asset Management Inc. raised its position in Textron Inc. (NYSE:TXT) by 339.1% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 15,705 shares of the aerospace company’s stock after acquiring an additional 12,128 shares during the period. iA Global Asset Management Inc.’s holdings in Textron were worth $1,201,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of TXT. Raymond James Financial Inc. bought a new stake in Textron in the 4th quarter valued at approximately $41,451,000. Boston Partners lifted its stake in Textron by 4.7% in the 4th quarter. Boston Partners now owns 7,483,692 shares of the aerospace company’s stock valued at $572,465,000 after acquiring an additional 333,127 shares in the last quarter. Brandes Investment Partners LP lifted its stake in Textron by 19.4% in the 4th quarter. Brandes Investment Partners LP now owns 1,859,703 shares of the aerospace company’s stock valued at $142,249,000 after acquiring an additional 302,712 shares in the last quarter. International Assets Investment Management LLC bought a new stake in Textron in the 4th quarter valued at approximately $11,523,000. Finally, Wealthfront Advisers LLC lifted its stake in Textron by 384.7% in the 4th quarter. Wealthfront Advisers LLC now owns 175,347 shares of the aerospace company’s stock valued at $13,412,000 after acquiring an additional 139,173 shares in the last quarter. Institutional investors own 86.03% of the company’s stock.

Analyst Upgrades and Downgrades

TXT has been the topic of several recent analyst reports. JPMorgan Chase & Co. lowered their price target on Textron from $90.00 to $88.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Susquehanna lowered their price target on Textron from $100.00 to $90.00 and set a “positive” rating on the stock in a research report on Wednesday, January 8th. Bank of America lowered Textron from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $110.00 to $85.00 in a research report on Friday, January 24th. 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 report on Monday, January 6th. Finally, Robert W. Baird lowered their price target on Textron from $100.00 to $92.00 and set an “outperform” rating on the stock in a research report on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $93.45.

Textron Stock Down 0.6 %

TXT stock opened at $73.07 on Friday. The company has a current ratio of 1.76, a quick ratio of 0.84 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $13.27 billion, a PE ratio of 16.95, a PEG ratio of 1.18 and a beta of 1.27. Textron Inc. has a 1-year low of $70.14 and a 1-year high of $97.34. The business’s 50 day simple moving average is $74.88 and its 200 day simple moving average is $80.71.

Textron (NYSE:TXT) last released 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 business 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% on a year-over-year basis. During the same period in the previous year, the company posted $1.60 EPS. As a group, research analysts anticipate that Textron Inc. will post 6.12 EPS for the current year.

Textron Announces Dividend

The company 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 of this dividend is Friday, March 14th. This represents a $0.08 annualized dividend and a 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 on 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 in the company, valued at $1,324,447.64. The trade was a 23.03 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.70% of the stock is currently owned by corporate insiders.

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.