Robeco Institutional Asset Management B.V. Boosts Position in Textron Inc. (NYSE:TXT)

Robeco Institutional Asset Management B.V. lifted its stake in shares of Textron Inc. (NYSE:TXT – Get Rating) by 10.8% during the 3rd quarter, Holdings Channel reports. The fund owned 276,719 shares of the aerospace company’s stock after buying an additional 27,069 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Textron were worth $16,120,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. AQR Capital Management LLC increased its position in shares of Textron by 65.6% during the 2nd quarter. AQR Capital Management LLC now owns 2,310,435 shares of the aerospace company’s stock worth $135,645,000 after purchasing an additional 915,068 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Textron by 36.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 3,318,093 shares of the aerospace company’s stock worth $202,636,000 after purchasing an additional 890,654 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of Textron by 12.1% during the 3rd quarter. Victory Capital Management Inc. now owns 6,445,825 shares of the aerospace company’s stock worth $375,534,000 after purchasing an additional 697,027 shares during the last quarter. Balyasny Asset Management LLC acquired a new stake in shares of Textron during the 3rd quarter worth about $33,249,000. Finally, Mariner LLC increased its position in shares of Textron by 2,973.5% during the 1st quarter. Mariner LLC now owns 471,666 shares of the aerospace company’s stock worth $35,083,000 after purchasing an additional 456,320 shares during the last quarter. Hedge funds and other institutional investors own 84.69% of the company’s stock.

Analyst Upgrades and Downgrades

TXT has been the subject of a number of recent analyst reports. The Goldman Sachs Group raised their price objective on Textron from $84.00 to $93.00 and gave the stock a “buy” rating in a research report on Thursday, December 15th. StockNews.com raised Textron from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $81.67.

Insider Activity

In other news, CEO Scott C. Donnelly sold 222,319 shares of Textron stock in a transaction dated Tuesday, February 21st. The stock was sold at an average price of $73.35, for a total value of $16,307,098.65. Following the completion of the transaction, the chief executive officer now owns 683,136 shares in the company, valued at approximately $50,108,025.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Scott C. Donnelly sold 222,319 shares of Textron stock in a transaction dated Tuesday, February 21st. The stock was sold at an average price of $73.35, for a total value of $16,307,098.65. Following the completion of the transaction, the chief executive officer now owns 683,136 shares in the company, valued at approximately $50,108,025.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Frank T. Connor sold 63,361 shares of Textron stock in a transaction dated Tuesday, February 21st. The shares were sold at an average price of $73.35, for a total value of $4,647,529.35. Following the completion of the transaction, the chief financial officer now owns 151,455 shares of the company’s stock, valued at approximately $11,109,224.25. The disclosure for this sale can be found here. Company insiders own 1.70% of the company’s stock.

Textron Stock Performance

NYSE TXT opened at $66.19 on Friday. The company has a market cap of $13.48 billion, a P/E ratio of 16.51, a P/E/G ratio of 1.22 and a beta of 1.49. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.19 and a quick ratio of 1.22. The stock has a 50-day moving average of $71.99 and a two-hundred day moving average of $68.45. Textron Inc. has a 1-year low of $57.11 and a 1-year high of $76.11.

Textron (NYSE:TXT – Get Rating) last released its earnings results on Wednesday, January 25th. The aerospace company reported $1.07 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.06. The company had revenue of $3.64 billion during the quarter, compared to the consensus estimate of $3.60 billion. Textron had a return on equity of 12.50% and a net margin of 6.69%. Textron’s revenue was up 9.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.94 EPS. As a group, analysts anticipate that Textron Inc. will post 4.98 EPS for the current year.

Textron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, April 1st. Stockholders of record on Friday, March 10th will be paid a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.12%. The ex-dividend date of this dividend is Thursday, March 9th. Textron’s payout ratio is presently 2.00%.

About Textron

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Textron, Inc is a multi-industry company, which leverages a global network of aircraft, defense, industrial, and finance businesses to provide customers innovative solutions and services. The company operates its business through the following segments: Textron Aviation, Bell, Textron Systems, Industrial, and Textron eAviation.