Baird Financial Group Inc. Grows Stake in Textron Inc. (NYSE:TXT)

Baird Financial Group Inc. raised its position in shares of Textron Inc. (NYSE:TXT) by 4.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,254 shares of the aerospace company’s stock after purchasing an additional 726 shares during the period. Baird Financial Group Inc.’s holdings in Textron were worth $1,396,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in the company. SBI Securities Co. Ltd. bought a new position in shares of Textron in the 4th quarter worth $31,000. Eastern Bank purchased a new position in Textron in the fourth quarter valued at about $42,000. Optiver Holding B.V. bought a new position in Textron in the fourth quarter worth about $56,000. Golden State Wealth Management LLC purchased a new stake in shares of Textron during the fourth quarter valued at about $63,000. Finally, McClarren Financial Advisors Inc. purchased a new stake in shares of Textron during the fourth quarter valued at about $68,000. 86.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TXT has been the topic of several analyst reports. Robert W. Baird cut their price target 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. Morgan Stanley dropped their target price on Textron from $82.00 to $71.00 and set an “equal weight” rating on the stock in a research note on Friday, April 11th. TD Cowen raised Textron to a “hold” rating in a research report on Monday, February 24th. Citigroup cut their price objective on shares of Textron from $111.00 to $107.00 and set a “buy” rating on the stock in a report on Thursday, April 10th. Finally, Bank of America cut shares of Textron from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $110.00 to $85.00 in a research note on Friday, January 24th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $87.70.

Textron Stock Down 0.3%

TXT opened at $76.55 on Wednesday. Textron Inc. has a twelve month low of $57.70 and a twelve month high of $94.57. 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 company has a 50-day moving average price of $69.93 and a 200 day moving average price of $75.74. The company has a market cap of $13.82 billion, a PE ratio of 17.76, a price-to-earnings-growth ratio of 1.18 and a beta of 1.20.

Textron (NYSE:TXT) last announced its earnings results on Thursday, April 24th. The aerospace company reported $1.28 EPS for the quarter, beating analysts’ consensus estimates of $1.17 by $0.11. The business had revenue of $3.31 billion during the quarter, compared to analysts’ expectations of $3.26 billion. Textron had a return on equity of 14.92% and a net margin of 6.01%. The business’s revenue was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.20 earnings per share. Sell-side analysts expect that Textron Inc. will post 6.12 earnings per share for the current fiscal year.

Textron Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be paid a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.10%. The ex-dividend date of this dividend is Friday, June 13th. Textron’s dividend payout ratio is presently 1.81%.

Insider Transactions at Textron

In other Textron news, VP Mark S. Bamford sold 5,451 shares of the business’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $72.68, for a total transaction of $396,178.68. Following the transaction, the vice president now owns 18,223 shares of the company’s stock, valued at approximately $1,324,447.64. The trade was a 23.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate 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.