NEOS Investment Management LLC Grows Stake in Textron Inc. (NYSE:TXT)

NEOS Investment Management LLC raised its position in Textron Inc. (NYSE:TXT) by 30.2% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 10,717 shares of the aerospace company’s stock after purchasing an additional 2,487 shares during the period. NEOS Investment Management LLC’s holdings in Textron were worth $820,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Cerity Partners LLC grew its stake in Textron by 110.5% in the 3rd quarter. Cerity Partners LLC now owns 28,171 shares of the aerospace company’s stock valued at $2,495,000 after acquiring an additional 14,789 shares during the last quarter. Bank of Montreal Can lifted its holdings in shares of Textron by 0.4% in the third quarter. Bank of Montreal Can now owns 190,615 shares of the aerospace company’s stock valued at $16,726,000 after purchasing an additional 772 shares in the last quarter. Public Sector Pension Investment Board grew its position in shares of Textron by 8.5% in the third quarter. Public Sector Pension Investment Board now owns 7,694 shares of the aerospace company’s stock valued at $682,000 after purchasing an additional 600 shares during the last quarter. Rockefeller Capital Management L.P. increased its stake in shares of Textron by 4.2% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 23,414 shares of the aerospace company’s stock worth $2,075,000 after purchasing an additional 941 shares in the last quarter. Finally, Captrust Financial Advisors raised its position in shares of Textron by 16.9% during the 3rd quarter. Captrust Financial Advisors now owns 72,036 shares of the aerospace company’s stock worth $6,381,000 after purchasing an additional 10,425 shares during the last quarter. Hedge funds and other institutional investors own 86.03% of the company’s stock.

Textron Stock Performance

NYSE:TXT opened at $72.92 on Monday. The company has a market cap of $13.24 billion, a P/E ratio of 16.92, a P/E/G ratio of 1.18 and a beta of 1.27. The firm’s 50 day moving average is $74.49 and its two-hundred day moving average is $80.17. Textron Inc. has a fifty-two week low of $70.14 and a fifty-two week high of $97.34. The company has a quick ratio of 0.84, a current ratio of 1.76 and a debt-to-equity ratio of 0.45.

Textron (NYSE:TXT) last issued its 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. The business had revenue of $3.61 billion for the quarter, compared to analyst estimates of $3.78 billion. Textron had a return on equity of 14.92% and a net margin of 6.01%. The business’s quarterly revenue was down 7.2% on a year-over-year basis. During the same period last year, the company posted $1.60 EPS. Analysts expect that Textron Inc. will post 6.12 EPS for the current year.

Textron Announces Dividend

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

Insider Buying and Selling at Textron

In related 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 transaction of $396,178.68. Following the transaction, the vice president now owns 18,223 shares in the company, valued at approximately $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 can be accessed through this link. 1.70% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Robert W. Baird dropped their price target on Textron from $100.00 to $92.00 and set an “outperform” rating for the company in a research report on Thursday, January 23rd. Morgan Stanley dropped their price objective on Textron from $86.00 to $82.00 and set an “equal weight” rating for the company in a research report on Thursday, January 23rd. Bank of America lowered shares of Textron from a “buy” rating to a “neutral” rating and reduced their target price for the company from $110.00 to $85.00 in a report on Friday, January 24th. Citigroup lowered their price target on shares of Textron from $118.00 to $111.00 and set a “buy” rating for the company in a report on Tuesday, January 21st. Finally, Susquehanna reduced their price objective on shares of Textron from $100.00 to $90.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $93.45.

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.