National Bank of Canada FI Has $15.97 Million Position in Textron Inc. (NYSE:TXT)

National Bank of Canada FI increased its stake in Textron Inc. (NYSE:TXT) by 43.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 208,741 shares of the aerospace company’s stock after purchasing an additional 63,567 shares during the period. National Bank of Canada FI owned 0.11% of Textron worth $15,967,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Merit Financial Group LLC raised 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 increased its position in Textron by 28.6% in the fourth 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. raised its holdings 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. lifted its position in Textron by 44.6% during the 4th 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 boosted its stake in shares of Textron by 1.8% in the 4th quarter. Todd Asset Management LLC now owns 470,292 shares of the aerospace company’s stock valued at $35,973,000 after purchasing an additional 8,198 shares during the last quarter. Institutional investors and hedge funds own 86.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on TXT. Bank of America downgraded shares of Textron from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $110.00 to $85.00 in a research note on Friday, January 24th. TD Cowen raised Textron to a “hold” rating in a research note on Monday, February 24th. Barclays decreased their price objective on Textron from $104.00 to $95.00 and set an “overweight” rating for the company in a research note on Monday, December 23rd. Robert W. Baird dropped their price objective on Textron from $100.00 to $92.00 and set an “outperform” rating for the company in a report on Thursday, January 23rd. Finally, JPMorgan Chase & Co. dropped their price objective on Textron from $90.00 to $88.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $93.45.

Textron Trading Down 9.5 %

NYSE:TXT opened at $60.54 on Friday. The company has a market cap of $11.00 billion, a P/E ratio of 14.05, a price-to-earnings-growth ratio of 1.18 and a beta of 1.27. Textron Inc. has a twelve month low of $60.38 and a twelve month high of $97.34. The business has a 50 day moving average price of $73.49 and a two-hundred day moving average price of $79.62. The company has a quick ratio of 0.84, a current ratio of 1.76 and a debt-to-equity ratio of 0.45.

Textron (NYSE:TXT) last released its earnings results on Wednesday, January 22nd. The aerospace company reported $1.34 earnings per share for the quarter, beating 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 business had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.78 billion. During the same quarter last year, the firm earned $1.60 earnings per share. The firm’s revenue for the quarter was down 7.2% compared to the same quarter last year. As a group, analysts expect that Textron Inc. will post 6.12 EPS for the current fiscal year.

Textron Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were given a dividend of $0.02 per share. The ex-dividend date was Friday, March 14th. This represents a $0.08 annualized dividend and a yield of 0.13%. Textron’s dividend payout ratio (DPR) is presently 1.86%.

Insider Buying and Selling at Textron

In other news, VP Mark S. Bamford sold 5,451 shares of the stock in a transaction that occurred 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 owns 18,223 shares of the company’s stock, valued at approximately $1,324,447.64. This represents a 23.03 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.70% of the company’s stock.

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.