Virtu Financial LLC Buys 5,736 Shares of Textron Inc. (NYSE:TXT)

Virtu Financial LLC grew its stake in Textron Inc. (NYSE:TXT) by 188.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,782 shares of the aerospace company’s stock after purchasing an additional 5,736 shares during the period. Virtu Financial LLC’s holdings in Textron were worth $672,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Quantbot Technologies LP boosted its stake in Textron by 414.7% during the fourth quarter. Quantbot Technologies LP now owns 129,018 shares of the aerospace company’s stock worth $9,869,000 after buying an additional 103,950 shares during the period. HUB Investment Partners LLC boosted its stake in shares of Textron by 30.3% during the 4th quarter. HUB Investment Partners LLC now owns 30,026 shares of the aerospace company’s stock worth $2,297,000 after purchasing an additional 6,990 shares during the period. iA Global Asset Management Inc. grew its holdings in Textron by 339.1% during the 4th quarter. iA Global Asset Management Inc. now owns 15,705 shares of the aerospace company’s stock valued at $1,201,000 after purchasing an additional 12,128 shares during the last quarter. Magnetar Financial LLC purchased a new stake in Textron in the 4th quarter worth about $276,000. Finally, Boston Partners lifted its stake in Textron by 4.7% in the fourth quarter. Boston Partners now owns 7,483,692 shares of the aerospace company’s stock worth $572,465,000 after purchasing an additional 333,127 shares during the last quarter. Hedge funds and other institutional investors own 86.03% of the company’s stock.

Insider Buying and Selling at Textron

In related 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 transaction of $396,178.68. Following the completion of the transaction, the vice president now owns 18,223 shares in the company, valued at $1,324,447.64. The trade was a 23.03 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 1.70% of the company’s stock.

Textron Price Performance

Shares of TXT opened at $74.23 on Tuesday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.84 and a current ratio of 1.76. The company has a 50 day moving average price of $74.83 and a 200-day moving average price of $80.51. Textron Inc. has a fifty-two week low of $70.14 and a fifty-two week high of $97.34. The stock has a market capitalization of $13.48 billion, a PE ratio of 17.22, a PEG ratio of 1.18 and a beta of 1.27.

Textron (NYSE:TXT) last announced its 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. The business had revenue of $3.61 billion for the quarter, compared to analysts’ expectations of $3.78 billion. Textron had a return on equity of 14.92% and a net margin of 6.01%. The business’s revenue for the quarter was down 7.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.60 EPS. Equities analysts predict 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, April 1st. Shareholders of record on Friday, March 14th will be given a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.11%. The ex-dividend date is Friday, March 14th. Textron’s payout ratio is 1.86%.

Wall Street Analysts Forecast Growth

TXT has been the topic of a number of analyst reports. JPMorgan Chase & Co. cut their target price on Textron from $90.00 to $88.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Citigroup cut their price objective on Textron from $118.00 to $111.00 and set a “buy” rating on the stock in a research report on Tuesday, January 21st. Vertical Research upgraded Textron from a “hold” rating to a “buy” rating and set a $91.00 target price for the company in a research report on Monday, January 6th. Morgan Stanley cut their price target on shares of Textron from $86.00 to $82.00 and set an “equal weight” rating on the stock in a report on Thursday, January 23rd. Finally, Susquehanna decreased their price objective on shares of Textron from $100.00 to $90.00 and set a “positive” rating for the company in a report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $93.45.

Textron 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.