Bessemer Group Inc. Has $524,000 Stake in Textron Inc. (NYSE:TXT)

Bessemer Group Inc. lowered its position in Textron Inc. (NYSE:TXT) by 3.7% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 6,857 shares of the aerospace company’s stock after selling 263 shares during the period. Bessemer Group Inc.’s holdings in Textron were worth $524,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of TXT. Invesco Ltd. boosted its holdings in Textron by 17.8% in the fourth quarter. Invesco Ltd. now owns 7,733,335 shares of the aerospace company’s stock worth $591,523,000 after acquiring an additional 1,167,105 shares in the last quarter. Boston Partners increased its stake in shares of Textron by 4.7% during the 4th quarter. Boston Partners now owns 7,483,692 shares of the aerospace company’s stock worth $572,465,000 after purchasing an additional 333,127 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Textron by 3.7% during the 4th quarter. Geode Capital Management LLC now owns 4,595,861 shares of the aerospace company’s stock valued at $350,619,000 after buying an additional 164,964 shares during the last quarter. Brandes Investment Partners LP increased its stake in shares of Textron by 19.4% in the fourth quarter. Brandes Investment Partners LP now owns 1,859,703 shares of the aerospace company’s stock worth $142,249,000 after purchasing an additional 302,712 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Textron by 0.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,678,854 shares of the aerospace company’s stock valued at $128,416,000 after acquiring an additional 7,610 shares during the period. Institutional investors and hedge funds own 86.03% of the company’s stock.

Textron Stock Down 0.8 %

NYSE:TXT opened at $65.48 on Wednesday. The company’s fifty day moving average price is $71.33 and its 200-day moving average price is $78.17. 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 firm has a market capitalization of $11.89 billion, a P/E ratio of 15.19, a PEG ratio of 1.18 and a beta of 1.06. Textron Inc. has a 1-year low of $57.70 and a 1-year high of $95.86.

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

Textron Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were given a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.12%. The ex-dividend date of this dividend was Friday, March 14th. Textron’s dividend payout ratio is presently 1.86%.

Wall Street Analysts Forecast Growth

TXT has been the topic of a number of research analyst reports. Vertical Research upgraded Textron from a “hold” rating to a “buy” rating and set a $91.00 target price on the stock in a research note on Monday, January 6th. Susquehanna dropped their target price on Textron from $100.00 to $90.00 and set a “positive” rating for the company in a report on Wednesday, January 8th. JPMorgan Chase & Co. lowered their price target on Textron from $90.00 to $88.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. TD Cowen upgraded shares of Textron to a “hold” rating in a report on Monday, February 24th. Finally, Morgan Stanley reduced their target price on shares of Textron from $82.00 to $71.00 and set an “equal weight” rating on the stock in a research report on Friday, April 11th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $92.09.

Insider Activity

In other Textron news, VP Mark S. Bamford sold 5,451 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $72.68, for a total value of $396,178.68. Following the transaction, the vice president now directly owns 18,223 shares in the company, valued at $1,324,447.64. This represents a 23.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.70% of the company’s stock.

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.