Textron Inc. (NYSE:TXT) Stock Holdings Increased by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board lifted its stake in Textron Inc. (NYSE:TXT) by 1,611.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 433,100 shares of the aerospace company’s stock after purchasing an additional 407,800 shares during the quarter. Canada Pension Plan Investment Board owned 0.23% of Textron worth $41,547,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also made changes to their positions in the company. Lindbrook Capital LLC raised its position in Textron by 18.6% during the fourth quarter. Lindbrook Capital LLC now owns 777 shares of the aerospace company’s stock valued at $62,000 after acquiring an additional 122 shares in the last quarter. True Vision MN LLC raised its position in Textron by 2.5% during the first quarter. True Vision MN LLC now owns 5,352 shares of the aerospace company’s stock valued at $513,000 after acquiring an additional 133 shares in the last quarter. Allworth Financial LP raised its position in Textron by 12.0% during the fourth quarter. Allworth Financial LP now owns 1,283 shares of the aerospace company’s stock valued at $103,000 after acquiring an additional 137 shares in the last quarter. Quent Capital LLC raised its position in Textron by 29.2% during the fourth quarter. Quent Capital LLC now owns 633 shares of the aerospace company’s stock valued at $51,000 after acquiring an additional 143 shares in the last quarter. Finally, Czech National Bank raised its position in Textron by 0.5% during the first quarter. Czech National Bank now owns 34,487 shares of the aerospace company’s stock valued at $3,308,000 after acquiring an additional 157 shares in the last quarter. 86.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TXT has been the topic of several recent research reports. StockNews.com lowered shares of Textron from a “strong-buy” rating to a “buy” rating in a research report on Friday, April 26th. TD Cowen raised their price objective on shares of Textron from $100.00 to $103.00 and gave the company a “buy” rating in a research report on Friday, July 19th. Citigroup increased their price target on Textron from $111.00 to $115.00 and gave the company a “buy” rating in a report on Monday, July 22nd. The Goldman Sachs Group increased their price target on Textron from $103.00 to $120.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Finally, UBS Group increased their price target on Textron from $84.00 to $87.00 and gave the company a “sell” rating in a report on Friday, July 19th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Textron has an average rating of “Moderate Buy” and an average price target of $101.63.

Insiders Place Their Bets

In other Textron news, Director Kathleen M. Bader sold 11,870 shares of Textron stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $87.91, for a total transaction of $1,043,491.70. Following the completion of the transaction, the director now directly owns 3,756 shares of the company’s stock, valued at $330,189.96. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.70% of the company’s stock.

Textron Trading Up 0.8 %

Shares of Textron stock opened at $92.06 on Friday. Textron Inc. has a 1 year low of $72.37 and a 1 year high of $97.33. The company has a current ratio of 1.64, a quick ratio of 0.66 and a debt-to-equity ratio of 0.42. The company’s fifty day simple moving average is $87.69 and its 200-day simple moving average is $88.33. The company has a market cap of $17.56 billion, a price-to-earnings ratio of 19.67, a PEG ratio of 1.46 and a beta of 1.25.

Textron (NYSE:TXT) last posted its quarterly earnings results on Thursday, July 18th. The aerospace company reported $1.54 earnings per share for the quarter, topping analysts’ consensus estimates of $1.48 by $0.06. Textron had a net margin of 6.67% and a return on equity of 16.41%. The firm had revenue of $3.53 billion for the quarter, compared to the consensus estimate of $3.56 billion. During the same quarter in the previous year, the company earned $1.46 earnings per share. The business’s revenue was up 3.0% compared to the same quarter last year. As a group, sell-side analysts expect that Textron Inc. will post 6.26 EPS for the current year.

About Textron

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.