Franklin Resources Inc. Has $6.61 Million Stock Position in Textron Inc. (NYSE:TXT)

Franklin Resources Inc. trimmed its position in Textron Inc. (NYSE:TXT) by 47.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 86,473 shares of the aerospace company’s stock after selling 77,556 shares during the quarter. Franklin Resources Inc.’s holdings in Textron were worth $6,614,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. B. Metzler seel. Sohn & Co. AG increased its holdings in Textron by 2.4% in the 4th quarter. B. Metzler seel. Sohn & Co. AG now owns 53,038 shares of the aerospace company’s stock valued at $4,057,000 after buying an additional 1,246 shares during the period. Wellington Management Group LLP increased its holdings in Textron by 50.2% in the 4th quarter. Wellington Management Group LLP now owns 603,171 shares of the aerospace company’s stock valued at $46,137,000 after buying an additional 201,696 shares during the period. Brandywine Global Investment Management LLC increased its holdings in Textron by 21.1% in the 4th quarter. Brandywine Global Investment Management LLC now owns 274,729 shares of the aerospace company’s stock valued at $21,014,000 after buying an additional 47,879 shares during the period. Arrowstreet Capital Limited Partnership increased its holdings in Textron by 66.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 66,314 shares of the aerospace company’s stock valued at $5,072,000 after buying an additional 26,378 shares during the period. Finally, Allstate Corp bought a new stake in Textron in the 4th quarter valued at $413,000. 86.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Textron

In other Textron news, VP Mark S. Bamford sold 5,451 shares of the firm’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $72.68, for a total transaction of $396,178.68. Following the completion of the sale, the vice president now owns 18,223 shares of the company’s stock, valued at $1,324,447.64. This trade represents a 23.03 % decrease in their position. 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 company insiders.

Analyst Ratings Changes

TXT has been the topic of several analyst reports. Susquehanna lowered their price target on shares of Textron from $100.00 to $90.00 and set a “positive” rating on the stock in a report on Wednesday, January 8th. Vertical Research raised shares of Textron from a “hold” rating to a “buy” rating and set a $91.00 target price on the stock in a report on Monday, January 6th. TD Cowen raised shares of Textron to a “hold” rating in a report on Monday, February 24th. JPMorgan Chase & Co. lowered their target price on shares of Textron from $90.00 to $88.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Finally, Bank of America lowered shares of Textron from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $110.00 to $85.00 in a report on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $93.45.

Textron Stock Performance

Shares of TXT stock opened at $66.87 on Thursday. 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 market capitalization of $12.14 billion, a P/E ratio of 15.52, a price-to-earnings-growth ratio of 1.18 and a beta of 1.06. The company’s 50 day moving average price is $72.12 and its two-hundred day moving average price is $78.76. Textron Inc. has a 52 week low of $57.70 and a 52 week high of $96.14.

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

Textron Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were paid a $0.02 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.08 annualized dividend and a dividend yield of 0.12%. Textron’s dividend payout ratio is presently 1.86%.

About Textron

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.