Allstate Corp Purchases Shares of 5,404 Textron Inc. (NYSE:TXT)

Allstate Corp purchased a new stake in Textron Inc. (NYSE:TXT) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 5,404 shares of the aerospace company’s stock, valued at approximately $413,000.

Other large investors also recently made changes to their positions in the company. Public Sector Pension Investment Board increased its holdings in Textron by 8.5% during the 3rd quarter. Public Sector Pension Investment Board now owns 7,694 shares of the aerospace company’s stock worth $682,000 after purchasing an additional 600 shares in the last quarter. Rockefeller Capital Management L.P. grew its holdings in shares of Textron by 4.2% during the third quarter. Rockefeller Capital Management L.P. now owns 23,414 shares of the aerospace company’s stock worth $2,075,000 after buying an additional 941 shares in the last quarter. Benjamin Edwards Inc. acquired a new stake in Textron in the 3rd quarter valued at approximately $417,000. Hilltop Holdings Inc. lifted its stake in Textron by 20.2% in the 3rd quarter. Hilltop Holdings Inc. now owns 6,189 shares of the aerospace company’s stock valued at $548,000 after acquiring an additional 1,042 shares in the last quarter. Finally, HighTower Advisors LLC grew its stake in shares of Textron by 0.5% during the 3rd quarter. HighTower Advisors LLC now owns 254,275 shares of the aerospace company’s stock worth $22,524,000 after acquiring an additional 1,322 shares in the last quarter. Institutional investors own 86.03% of the company’s stock.

Textron Price Performance

NYSE:TXT opened at $72.48 on Thursday. The firm’s fifty day moving average price is $74.06 and its two-hundred day moving average price is $79.90. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.76 and a quick ratio of 0.84. The company has a market cap of $13.16 billion, a P/E ratio of 16.82, a P/E/G ratio of 1.18 and a beta of 1.27. Textron Inc. has a one year low of $70.14 and a one year high of $97.34.

Textron (NYSE:TXT) last released its quarterly earnings results on Wednesday, January 22nd. The aerospace company reported $1.34 earnings per share for the quarter, beating 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 firm had revenue of $3.61 billion for the quarter, compared to analysts’ expectations of $3.78 billion. During the same period in the prior year, the firm earned $1.60 EPS. The business’s revenue was down 7.2% on a year-over-year basis. Equities analysts expect that Textron Inc. will post 6.12 earnings per share for the current year.

Textron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were given a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.11%. The ex-dividend date was Friday, March 14th. Textron’s payout ratio is 1.86%.

Insider Transactions at Textron

In other Textron news, VP Mark S. Bamford sold 5,451 shares of Textron stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $72.68, for a total value of $396,178.68. Following the completion of the sale, the vice president now owns 18,223 shares in the company, valued at $1,324,447.64. The trade was a 23.03 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on TXT. Susquehanna cut their price objective on shares of Textron from $100.00 to $90.00 and set a “positive” rating on the stock in a research report on Wednesday, January 8th. JPMorgan Chase & Co. decreased their price objective on Textron from $90.00 to $88.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Robert W. Baird dropped their target price on Textron from $100.00 to $92.00 and set an “outperform” rating on the stock in a report on Thursday, January 23rd. Citigroup reduced their price target on Textron from $118.00 to $111.00 and set a “buy” rating for the company in a research report on Tuesday, January 21st. Finally, TD Cowen raised Textron to a “hold” rating in a research report on Monday, February 24th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, Textron currently has an average rating of “Moderate Buy” and an average target price 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.