NEOS Investment Management LLC Boosts Stock Holdings in Textron Inc. (NYSE:TXT)

NEOS Investment Management LLC lifted its stake in Textron Inc. (NYSE:TXT) by 30.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,717 shares of the aerospace company’s stock after purchasing an additional 2,487 shares during the period. NEOS Investment Management LLC’s holdings in Textron were worth $820,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Cerity Partners LLC boosted its stake in shares of Textron by 110.5% in the 3rd quarter. Cerity Partners LLC now owns 28,171 shares of the aerospace company’s stock valued at $2,495,000 after buying an additional 14,789 shares during the period. Bank of Montreal Can lifted its stake in Textron by 0.4% in the third quarter. Bank of Montreal Can now owns 190,615 shares of the aerospace company’s stock worth $16,726,000 after acquiring an additional 772 shares during the last quarter. Public Sector Pension Investment Board grew its holdings in Textron by 8.5% during the 3rd quarter. Public Sector Pension Investment Board now owns 7,694 shares of the aerospace company’s stock worth $682,000 after acquiring an additional 600 shares in the last quarter. Rockefeller Capital Management L.P. increased its position in shares of Textron by 4.2% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 23,414 shares of the aerospace company’s stock valued at $2,075,000 after purchasing an additional 941 shares during the last quarter. Finally, Captrust Financial Advisors raised its holdings in shares of Textron by 16.9% in the 3rd quarter. Captrust Financial Advisors now owns 72,036 shares of the aerospace company’s stock valued at $6,381,000 after purchasing an additional 10,425 shares in the last quarter. 86.03% of the stock is owned by institutional investors and hedge funds.

Textron Stock Down 3.1 %

Shares of NYSE:TXT opened at $72.92 on Monday. Textron Inc. has a 1-year low of $70.14 and a 1-year high of $97.34. 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 stock has a market cap of $13.24 billion, a P/E ratio of 16.92, a P/E/G ratio of 1.18 and a beta of 1.27. The firm has a fifty day moving average price of $74.49 and a 200 day moving average price of $80.17.

Textron (NYSE:TXT) last announced its earnings results on Wednesday, January 22nd. The aerospace company reported $1.34 earnings per share for the quarter, topping 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 net margin of 6.01% and a return on equity of 14.92%. The business’s quarterly revenue was down 7.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.60 earnings per share. Sell-side analysts predict that Textron Inc. will post 6.12 EPS for the current year.

Textron Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders 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 payout ratio is 1.86%.

Insider Transactions at Textron

In related news, VP Mark S. Bamford sold 5,451 shares of the company’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $72.68, for a total transaction of $396,178.68. Following the transaction, the vice president now owns 18,223 shares of the company’s stock, valued at $1,324,447.64. This represents a 23.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 1.70% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on TXT shares. TD Cowen upgraded shares of Textron to a “hold” rating in a research note on Monday, February 24th. Vertical Research raised Textron from a “hold” rating to a “buy” rating and set a $91.00 target price on the stock in a research report on Monday, January 6th. Morgan Stanley decreased their target price on Textron from $86.00 to $82.00 and set an “equal weight” rating for the company in a research note on Thursday, January 23rd. Robert W. Baird dropped their price target on shares of Textron from $100.00 to $92.00 and set an “outperform” rating on the stock in a research note on Thursday, January 23rd. Finally, Bank of America downgraded shares of Textron from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $110.00 to $85.00 in a research report on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Textron presently has an average rating of “Moderate Buy” and an average price target of $93.45.

Textron 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.