Charles Schwab Investment Management Inc. Purchases 7,610 Shares of Textron Inc. (NYSE:TXT)

Charles Schwab Investment Management Inc. boosted its holdings in Textron Inc. (NYSE:TXT) by 0.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 1,678,854 shares of the aerospace company’s stock after buying an additional 7,610 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Textron were worth $128,416,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in TXT. International Assets Investment Management LLC bought a new stake in shares of Textron in the 4th quarter valued at about $11,523,000. Bank of New York Mellon Corp lifted its stake in shares of Textron by 7.9% in the fourth quarter. Bank of New York Mellon Corp now owns 1,428,377 shares of the aerospace company’s stock worth $109,257,000 after acquiring an additional 104,982 shares during the period. National Bank of Canada FI boosted its holdings in Textron by 161.8% in the third quarter. National Bank of Canada FI now owns 145,174 shares of the aerospace company’s stock valued at $12,860,000 after acquiring an additional 89,724 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in Textron during the 4th quarter valued at approximately $6,512,000. Finally, Vinva Investment Management Ltd raised its holdings in Textron by 1,757.6% during the 3rd quarter. Vinva Investment Management Ltd now owns 72,446 shares of the aerospace company’s stock worth $6,357,000 after purchasing an additional 68,546 shares during the last quarter. 86.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. TD Cowen upgraded shares of Textron to a “hold” rating in a research report on Monday, February 24th. Citigroup decreased their price target on Textron from $118.00 to $111.00 and set a “buy” rating for the company in a report on Tuesday, January 21st. Susquehanna dropped their price objective on Textron from $100.00 to $90.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. Barclays cut their target price on Textron from $104.00 to $95.00 and set an “overweight” rating on the stock in a research report on Monday, December 23rd. Finally, Robert W. Baird dropped their price target on Textron from $100.00 to $92.00 and set an “outperform” rating on the stock in a research note on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Textron presently has an average rating of “Moderate Buy” and a consensus price target of $93.45.

Insider Activity at Textron

In other news, VP Mark S. Bamford sold 5,451 shares of the stock in a transaction that occurred on Monday, February 24th. The stock was 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 of the company’s stock, valued at $1,324,447.64. This represents a 23.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.70% of the stock is owned by insiders.

Textron Trading Up 2.9 %

NYSE TXT opened at $75.50 on Friday. 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 Inc. has a 52 week low of $70.14 and a 52 week high of $97.33. The business has a 50 day moving average price of $75.33 and a 200-day moving average price of $81.78. The company has a market cap of $13.71 billion, a price-to-earnings ratio of 17.52, a P/E/G ratio of 1.18 and a beta of 1.27.

Textron (NYSE:TXT) last announced its quarterly earnings results on Wednesday, January 22nd. The aerospace company reported $1.34 EPS for the quarter, beating analysts’ consensus estimates of $1.27 by $0.07. Textron had a net margin of 6.01% and a return on equity of 14.92%. The business had revenue of $3.61 billion during the quarter, compared to analyst estimates of $3.78 billion. During the same quarter in the previous year, the business posted $1.60 EPS. Textron’s quarterly revenue was down 7.2% on a year-over-year basis. As a group, equities analysts expect that Textron Inc. will post 6.12 earnings per share for the current fiscal year.

Textron Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be issued a $0.02 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.11%. Textron’s dividend payout ratio is presently 1.86%.

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.