HUB Investment Partners LLC Buys 6,990 Shares of Textron Inc. (NYSE:TXT)

HUB Investment Partners LLC lifted its stake in shares of Textron Inc. (NYSE:TXT) by 30.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,026 shares of the aerospace company’s stock after acquiring an additional 6,990 shares during the period. HUB Investment Partners LLC’s holdings in Textron were worth $2,297,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. iA Global Asset Management Inc. boosted its holdings in Textron by 339.1% during the fourth quarter. iA Global Asset Management Inc. now owns 15,705 shares of the aerospace company’s stock worth $1,201,000 after purchasing an additional 12,128 shares during the last quarter. Magnetar Financial LLC acquired a new position in Textron during the fourth quarter worth $276,000. Boston Partners boosted its holdings in Textron by 4.7% during the fourth 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. Advisors Asset Management Inc. boosted its holdings in Textron by 9.2% during the fourth quarter. Advisors Asset Management Inc. now owns 27,711 shares of the aerospace company’s stock worth $2,120,000 after purchasing an additional 2,338 shares during the last quarter. Finally, Cibc World Markets Corp boosted its holdings in Textron by 14.7% during the fourth quarter. Cibc World Markets Corp now owns 29,350 shares of the aerospace company’s stock worth $2,245,000 after purchasing an additional 3,763 shares during the last quarter. Institutional investors and hedge funds own 86.03% of the company’s stock.

Insider Buying and Selling

In related 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 transaction, the vice president now directly owns 18,223 shares of the company’s stock, valued at approximately $1,324,447.64. This trade represents a 23.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.70% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts have commented on the stock. TD Cowen upgraded shares of Textron to a “hold” rating in a research note on Monday, February 24th. Robert W. Baird cut their price target on shares of Textron from $100.00 to $92.00 and set an “outperform” rating for the company in a research note on Thursday, January 23rd. Barclays cut their price target on shares of Textron from $104.00 to $95.00 and set an “overweight” rating for the company in a research note on Monday, December 23rd. Citigroup cut their price target on shares of Textron from $118.00 to $111.00 and set a “buy” rating for the company in a research note on Tuesday, January 21st. Finally, Morgan Stanley cut their price target on shares of Textron from $86.00 to $82.00 and set an “equal weight” rating for the company in a research note on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $93.45.

Textron Stock Performance

NYSE TXT opened at $73.49 on Friday. The firm has a 50-day moving average of $74.93 and a 200-day moving average of $80.84. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.84 and a current ratio of 1.76. The stock has a market cap of $13.35 billion, a PE ratio of 17.05, a P/E/G ratio of 1.18 and a beta of 1.27. Textron Inc. has a 52-week low of $70.14 and a 52-week high of $97.34.

Textron (NYSE:TXT) last posted its earnings results on Wednesday, January 22nd. The aerospace company reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $3.78 billion. During the same quarter last year, the company posted $1.60 EPS. Textron’s quarterly revenue was down 7.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Textron Inc. will post 6.12 EPS for the current year.

Textron Dividend Announcement

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

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.