Textron Inc. (NYSE:TXT) Shares Acquired by Fidelity National Financial Inc.

Fidelity National Financial Inc. grew its stake in Textron Inc. (NYSE:TXT) by 30.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 300,000 shares of the aerospace company’s stock after purchasing an additional 70,000 shares during the quarter. Textron makes up about 0.5% of Fidelity National Financial Inc.’s holdings, making the stock its 10th largest position. Fidelity National Financial Inc. owned approximately 0.16% of Textron worth $22,947,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of TXT. Wellington Management Group LLP grew its holdings in shares of Textron by 50.2% in the fourth quarter. Wellington Management Group LLP now owns 603,171 shares of the aerospace company’s stock valued at $46,137,000 after acquiring an additional 201,696 shares in the last quarter. Merit Financial Group LLC increased its position in shares of Textron by 5.9% during the 4th quarter. Merit Financial Group LLC now owns 4,784 shares of the aerospace company’s stock valued at $366,000 after purchasing an additional 265 shares during the last quarter. Empowered Funds LLC boosted its holdings in shares of Textron by 28.6% in the 4th quarter. Empowered Funds LLC now owns 20,132 shares of the aerospace company’s stock worth $1,540,000 after buying an additional 4,480 shares during the last quarter. Franklin Resources Inc. increased its holdings in Textron by 10.3% during the third quarter. Franklin Resources Inc. now owns 164,029 shares of the aerospace company’s stock worth $14,505,000 after buying an additional 15,294 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its position 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 worth $1,343,000 after acquiring an additional 5,367 shares during the period. Institutional investors own 86.03% of the company’s stock.

Textron Stock Performance

NYSE:TXT opened at $66.00 on Friday. Textron Inc. has a twelve month low of $57.70 and a twelve month high of $95.86. 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 stock has a market cap of $11.99 billion, a P/E ratio of 15.31, a PEG ratio of 1.18 and a beta of 1.06. The business’s 50-day moving average price is $70.82 and its two-hundred day moving average price is $77.78.

Textron (NYSE:TXT) last announced 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. The business had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $3.78 billion. Textron had a net margin of 6.01% and a return on equity of 14.92%. Textron’s quarterly revenue was down 7.2% on a year-over-year basis. During the same period last year, the firm posted $1.60 earnings per share. As a group, equities analysts predict 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 was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were paid a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.12%. The ex-dividend date was Friday, March 14th. Textron’s dividend payout ratio (DPR) is currently 1.86%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Bank of America cut shares of Textron from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $110.00 to $85.00 in a report on Friday, January 24th. Barclays decreased their price objective on Textron from $104.00 to $95.00 and set an “overweight” rating for the company in a report on Monday, December 23rd. 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. TD Cowen upgraded shares of Textron to a “hold” rating in a research note on Monday, February 24th. Finally, Morgan Stanley reduced their price objective on shares of Textron from $82.00 to $71.00 and set an “equal weight” rating for the company in a research note on Friday, April 11th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $89.30.

Insider Transactions at Textron

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 sale, 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 legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.70% of the company’s stock.

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.