HUB Investment Partners LLC Has $2.30 Million Position in Textron Inc. (NYSE:TXT)

HUB Investment Partners LLC grew its stake in Textron Inc. (NYSE:TXT) by 30.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 30,026 shares of the aerospace company’s stock after purchasing an additional 6,990 shares during the period. HUB Investment Partners LLC’s holdings in Textron were worth $2,297,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Boston Partners boosted its stake in shares of Textron by 4.7% in the 4th quarter. Boston Partners now owns 7,483,692 shares of the aerospace company’s stock valued at $572,465,000 after purchasing an additional 333,127 shares in the last quarter. Brandes Investment Partners LP boosted its stake in shares of Textron by 19.4% in the 4th quarter. Brandes Investment Partners LP now owns 1,859,703 shares of the aerospace company’s stock valued at $142,249,000 after purchasing an additional 302,712 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Textron by 0.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,678,854 shares of the aerospace company’s stock valued at $128,416,000 after purchasing an additional 7,610 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Textron by 7.9% in the 4th quarter. Bank of New York Mellon Corp now owns 1,428,377 shares of the aerospace company’s stock valued at $109,257,000 after purchasing an additional 104,982 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Textron during the 4th quarter worth approximately $41,451,000. 86.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently commented on TXT. Bank of America downgraded shares of Textron from a “buy” rating to a “neutral” rating and cut their target price for the stock from $110.00 to $85.00 in a research report on Friday, January 24th. Morgan Stanley cut their target price on shares of Textron from $86.00 to $82.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 23rd. Vertical Research upgraded shares of Textron from a “hold” rating to a “buy” rating and set a $91.00 target price on the stock in a research report on Monday, January 6th. Susquehanna cut their target price on shares of Textron from $100.00 to $90.00 and set a “positive” rating on the stock in a research report on Wednesday, January 8th. Finally, Robert W. Baird cut their target price on shares of Textron from $100.00 to $92.00 and set an “outperform” rating on the stock in a research report on Thursday, January 23rd. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $93.45.

Textron Stock Down 1.3 %

Shares of NYSE TXT opened at $73.49 on Friday. The company has a market capitalization of $13.35 billion, a P/E ratio of 17.05, a price-to-earnings-growth ratio of 1.18 and a beta of 1.27. Textron Inc. has a 52-week low of $70.14 and a 52-week high of $97.34. 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’s 50 day moving average price is $74.93 and its 200-day moving average price is $80.84.

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, topping analysts’ consensus estimates of $1.27 by $0.07. The firm 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%. The company’s revenue for the quarter was down 7.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.60 EPS. Equities analysts forecast that Textron Inc. will post 6.12 earnings per share for the current year.

Textron Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a $0.02 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.08 annualized dividend and a dividend yield of 0.11%. Textron’s dividend payout ratio is currently 1.86%.

Insider Activity

In other news, VP Mark S. Bamford sold 5,451 shares of Textron stock in a transaction 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 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. 1.70% of the stock is currently owned by company insiders.

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.