BI Asset Management Fondsmaeglerselskab A S Has $469,000 Stake in Textron Inc. (NYSE:TXT)

BI Asset Management Fondsmaeglerselskab A S increased its holdings in shares of Textron Inc. (NYSE:TXT) by 55.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,829 shares of the aerospace company’s stock after acquiring an additional 2,091 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in Textron were worth $469,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TXT. Adage Capital Partners GP L.L.C. grew its holdings in Textron by 93.7% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,474,191 shares of the aerospace company’s stock worth $115,193,000 after acquiring an additional 713,169 shares during the last quarter. Swiss National Bank bought a new position in Textron in the 3rd quarter valued at $50,696,000. JPMorgan Chase & Co. increased its stake in shares of Textron by 11.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,745,108 shares of the aerospace company’s stock valued at $448,923,000 after buying an additional 596,214 shares during the period. LSV Asset Management raised its position in shares of Textron by 15.9% during the fourth quarter. LSV Asset Management now owns 3,793,047 shares of the aerospace company’s stock worth $305,037,000 after acquiring an additional 521,276 shares during the last quarter. Finally, International Assets Investment Management LLC bought a new position in Textron in the fourth quarter valued at about $394,347,000. 86.03% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Textron

In other news, Director Kathleen M. Bader sold 11,870 shares of the stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $87.91, for a total transaction of $1,043,491.70. Following the completion of the transaction, the director now directly owns 3,756 shares in the company, valued at approximately $330,189.96. The transaction was disclosed in a document filed with the SEC, which is available at this link. 1.70% of the stock is owned by insiders.

Textron Stock Performance

Shares of TXT opened at $87.75 on Friday. Textron Inc. has a twelve month low of $61.27 and a twelve month high of $97.33. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.84 and a current ratio of 1.81. The firm’s 50 day moving average price is $91.58 and its two-hundred day moving average price is $85.22. The firm has a market cap of $16.73 billion, a P/E ratio of 18.75, a PEG ratio of 1.41 and a beta of 1.32.

Textron (NYSE:TXT) last posted its quarterly earnings data on Thursday, April 25th. The aerospace company reported $1.20 earnings per share for the quarter, missing the consensus estimate of $1.28 by ($0.08). Textron had a return on equity of 16.30% and a net margin of 6.75%. The firm had revenue of $3.14 billion for the quarter, compared to analyst estimates of $3.29 billion. The firm’s quarterly revenue was up 3.7% on a year-over-year basis. During the same period in the prior year, the company earned $1.05 earnings per share. On average, analysts forecast that Textron Inc. will post 6.27 EPS for the current fiscal year.

Textron Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.09%. The ex-dividend date is Friday, June 14th. Textron’s payout ratio is 1.71%.

Analysts Set New Price Targets

A number of research firms have issued reports on TXT. Susquehanna cut their target price on shares of Textron from $110.00 to $105.00 and set a “positive” rating on the stock in a research report on Friday, April 26th. The Goldman Sachs Group lifted their target price on shares of Textron from $103.00 to $120.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. UBS Group increased their price target on Textron from $77.00 to $81.00 and gave the company a “sell” rating in a research note on Friday, January 26th. Citigroup lifted their price objective on Textron from $104.00 to $111.00 and gave the stock a “buy” rating in a research note on Thursday, April 4th. Finally, StockNews.com lowered Textron from a “strong-buy” rating to a “buy” rating in a research note on Friday, April 26th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $95.63.

Textron Company 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.