Wellington Management Group LLP Buys 201,696 Shares of Textron Inc. (NYSE:TXT)

Wellington Management Group LLP lifted its stake in shares of Textron Inc. (NYSE:TXT) by 50.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 603,171 shares of the aerospace company’s stock after purchasing an additional 201,696 shares during the period. Wellington Management Group LLP owned 0.33% of Textron worth $46,137,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. SBI Securities Co. Ltd. acquired a new position in Textron during the fourth quarter worth $31,000. Eastern Bank bought a new position in shares of Textron in the 4th quarter valued at about $42,000. Golden State Wealth Management LLC acquired a new position in shares of Textron during the 4th quarter worth about $63,000. McClarren Financial Advisors Inc. bought a new stake in shares of Textron in the 4th quarter valued at about $68,000. Finally, Geneos Wealth Management Inc. lifted its stake in Textron by 33.0% in the 4th quarter. Geneos Wealth Management Inc. now owns 964 shares of the aerospace company’s stock valued at $74,000 after purchasing an additional 239 shares during the last quarter. Institutional investors and hedge funds own 86.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Morgan Stanley dropped their price objective on Textron from $86.00 to $82.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 23rd. Bank of America cut Textron from a “buy” rating to a “neutral” rating and dropped their price target for the company from $110.00 to $85.00 in a research note on Friday, January 24th. TD Cowen raised shares of Textron to a “hold” rating in a research report on Monday, February 24th. Robert W. Baird decreased their price objective on shares of Textron from $100.00 to $92.00 and set an “outperform” rating on the stock in a report on Thursday, January 23rd. Finally, Vertical Research upgraded shares of Textron from a “hold” rating to a “buy” rating and set a $91.00 target price for the company in a research note on Monday, January 6th. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Textron has an average rating of “Moderate Buy” and a consensus target price of $93.45.

Textron Price Performance

Shares of Textron stock opened at $60.54 on Friday. The company has a 50-day simple moving average of $73.49 and a two-hundred day simple moving average of $79.56. Textron Inc. has a twelve month low of $60.38 and a twelve month high of $97.34. The stock has a market capitalization of $11.00 billion, a price-to-earnings ratio of 14.05, a price-to-earnings-growth ratio of 1.18 and a beta of 1.06. 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 issued its quarterly earnings results on Wednesday, January 22nd. The aerospace company reported $1.34 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $3.78 billion. During the same period in the previous year, the company posted $1.60 earnings per share. The firm’s revenue for the quarter was down 7.2% compared to the same quarter last year. Analysts forecast 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. Investors of record on Friday, March 14th were paid a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.13%. The ex-dividend date was Friday, March 14th. Textron’s dividend payout ratio (DPR) is presently 1.86%.

Insider Buying and Selling

In other news, VP Mark S. Bamford sold 5,451 shares of the business’s 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 completion of the transaction, the vice president now directly owns 18,223 shares in the company, valued at approximately $1,324,447.64. The trade was a 23.03 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.70% of the stock is currently owned by company insiders.

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.