Brandywine Global Investment Management LLC Boosts Stake in Textron Inc. (NYSE:TXT)

Brandywine Global Investment Management LLC boosted its position in shares of Textron Inc. (NYSE:TXT) by 21.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 274,729 shares of the aerospace company’s stock after buying an additional 47,879 shares during the period. Brandywine Global Investment Management LLC’s holdings in Textron were worth $21,014,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Merit Financial Group LLC grew its position in shares of Textron by 5.9% during the fourth quarter. Merit Financial Group LLC now owns 4,784 shares of the aerospace company’s stock worth $366,000 after acquiring an additional 265 shares during the last quarter. Empowered Funds LLC boosted its stake in Textron by 28.6% during the 4th quarter. Empowered Funds LLC now owns 20,132 shares of the aerospace company’s stock worth $1,540,000 after purchasing an additional 4,480 shares during the period. Franklin Resources Inc. grew its position in Textron by 10.3% during the 3rd quarter. Franklin Resources Inc. now owns 164,029 shares of the aerospace company’s stock worth $14,505,000 after purchasing an additional 15,294 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Textron by 44.6% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,390 shares of the aerospace company’s stock valued at $1,343,000 after purchasing an additional 5,367 shares during the period. Finally, Todd Asset Management LLC raised its holdings in shares of Textron by 1.8% in the fourth quarter. Todd Asset Management LLC now owns 470,292 shares of the aerospace company’s stock valued at $35,973,000 after buying an additional 8,198 shares during the last quarter. Hedge funds and other institutional investors own 86.03% of the company’s stock.

Textron Stock Down 3.1 %

Shares of NYSE TXT opened at $72.92 on Monday. The company has a quick ratio of 0.84, a current ratio of 1.76 and a debt-to-equity ratio of 0.45. The firm has a 50-day moving average price of $74.49 and a 200 day moving average price of $80.17. Textron Inc. has a 52 week low of $70.14 and a 52 week high of $97.34. The stock has a market capitalization of $13.24 billion, a price-to-earnings ratio of 16.92, a price-to-earnings-growth ratio of 1.18 and a beta of 1.27.

Textron (NYSE:TXT) last announced 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 return on equity of 14.92% and a net margin of 6.01%. The business had revenue of $3.61 billion for the quarter, compared to analyst estimates of $3.78 billion. During the same quarter in the previous year, the company earned $1.60 EPS. The company’s quarterly revenue was down 7.2% on a year-over-year basis. Equities research analysts anticipate that Textron Inc. will post 6.12 EPS for the current fiscal year.

Textron Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.11%. The ex-dividend date is Friday, March 14th. Textron’s dividend payout ratio is currently 1.86%.

Insider Transactions at Textron

In other Textron news, VP Mark S. Bamford sold 5,451 shares of the firm’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $72.68, for a total transaction of $396,178.68. Following the completion of the transaction, the vice president now directly owns 18,223 shares in the company, valued at approximately $1,324,447.64. This trade represents a 23.03 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Vertical Research raised Textron from a “hold” rating to a “buy” rating and set a $91.00 price target on the stock in a report on Monday, January 6th. Barclays dropped their target price on Textron from $104.00 to $95.00 and set an “overweight” rating on the stock in a report on Monday, December 23rd. Citigroup decreased their price target on Textron from $118.00 to $111.00 and set a “buy” rating for the company in a report on Tuesday, January 21st. Morgan Stanley dropped their price objective on shares of Textron from $86.00 to $82.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 23rd. Finally, Susquehanna reduced their target price on shares of Textron from $100.00 to $90.00 and set a “positive” rating for the company in a research note on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus 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.