Fort L.P. purchased a new position in shares of Textron Inc. (NYSE:TXT) during the fourth quarter, HoldingsChannel reports. The firm purchased 2,089 shares of the aerospace company’s stock, valued at approximately $96,000.

A number of other hedge funds have also modified their holdings of the business. Robeco Institutional Asset Management B.V. increased its stake in shares of Textron by 396.6% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 138,489 shares of the aerospace company’s stock valued at $9,898,000 after acquiring an additional 110,603 shares in the last quarter. US Bancorp DE increased its stake in shares of Textron by 3.3% in the 3rd quarter. US Bancorp DE now owns 33,960 shares of the aerospace company’s stock valued at $2,427,000 after acquiring an additional 1,090 shares in the last quarter. Private Advisor Group LLC increased its stake in shares of Textron by 284.6% in the 3rd quarter. Private Advisor Group LLC now owns 15,636 shares of the aerospace company’s stock valued at $1,117,000 after acquiring an additional 11,570 shares in the last quarter. Commonwealth Equity Services LLC increased its stake in shares of Textron by 3.5% in the 3rd quarter. Commonwealth Equity Services LLC now owns 30,947 shares of the aerospace company’s stock valued at $2,211,000 after acquiring an additional 1,036 shares in the last quarter. Finally, LSV Asset Management increased its stake in shares of Textron by 0.5% in the 3rd quarter. LSV Asset Management now owns 838,456 shares of the aerospace company’s stock valued at $59,924,000 after acquiring an additional 4,015 shares in the last quarter. Institutional investors own 83.49% of the company’s stock.

NYSE TXT opened at $51.78 on Friday. Textron Inc. has a 12-month low of $43.27 and a 12-month high of $72.87. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.14 and a quick ratio of 1.05. The firm has a market capitalization of $12.11 billion, a P/E ratio of 15.50, a price-to-earnings-growth ratio of 1.13 and a beta of 1.67.

Textron (NYSE:TXT) last posted its quarterly earnings results on Thursday, January 24th. The aerospace company reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.17. Textron had a net margin of 8.75% and a return on equity of 15.51%. The business had revenue of $3.75 billion during the quarter, compared to the consensus estimate of $3.99 billion. During the same quarter last year, the firm posted $0.74 EPS. Textron’s revenue was down 6.6% compared to the same quarter last year. On average, sell-side analysts expect that Textron Inc. will post 3.67 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Investors of record on Friday, March 15th will be given a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.15%. The ex-dividend date is Thursday, March 14th. Textron’s payout ratio is currently 2.40%.

Several research firms have recently weighed in on TXT. Zacks Investment Research lowered shares of Textron from a “hold” rating to a “sell” rating in a research note on Saturday, November 17th. Jefferies Financial Group set a $68.00 price target on shares of Textron and gave the company a “buy” rating in a research report on Friday, November 30th. Cowen reissued a “buy” rating and issued a $62.00 price target on shares of Textron in a research report on Wednesday, February 27th. TheStreet raised shares of Textron from a “c+” rating to a “b” rating in a research report on Thursday, January 31st. Finally, ValuEngine downgraded shares of Textron from a “hold” rating to a “sell” rating in a research report on Thursday, March 7th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $67.42.

In other Textron news, Chairman Scott C. Donnelly sold 230,654 shares of Textron stock in a transaction on Friday, February 22nd. The shares were sold at an average price of $55.04, for a total transaction of $12,695,196.16. Following the transaction, the chairman now directly owns 707,495 shares of the company’s stock, valued at approximately $38,940,524.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Scott C. Donnelly sold 150,226 shares of Textron stock in a transaction on Wednesday, February 20th. The stock was sold at an average price of $55.04, for a total transaction of $8,268,439.04. Following the transaction, the chief executive officer now directly owns 707,495 shares in the company, valued at $38,940,524.80. The disclosure for this sale can be found here. In the last three months, insiders sold 458,112 shares of company stock valued at $25,222,635. 1.40% of the stock is currently owned by insiders.

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About Textron

Textron, Inc is a multi-industry company, which leverages 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 Finance.

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Institutional Ownership by Quarter for Textron (NYSE:TXT)

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