Millennium Management LLC Has $35.90 Million Holdings in Textron Inc. (TXT)

Millennium Management LLC raised its stake in Textron Inc. (NYSE:TXT) by 181.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 780,584 shares of the aerospace company’s stock after purchasing an additional 503,589 shares during the period. Millennium Management LLC owned 0.32% of Textron worth $35,899,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in TXT. Primecap Management Co. CA lifted its holdings in Textron by 7.6% in the third quarter. Primecap Management Co. CA now owns 4,985,260 shares of the aerospace company’s stock valued at $356,297,000 after acquiring an additional 353,242 shares during the period. Victory Capital Management Inc. increased its position in shares of Textron by 11.9% in the fourth quarter. Victory Capital Management Inc. now owns 4,409,907 shares of the aerospace company’s stock valued at $202,812,000 after buying an additional 470,595 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Textron by 0.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,565,875 shares of the aerospace company’s stock valued at $163,995,000 after buying an additional 30,800 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Textron by 4.4% in the fourth quarter. Geode Capital Management LLC now owns 3,144,494 shares of the aerospace company’s stock valued at $144,357,000 after buying an additional 131,360 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Textron by 29.6% in the fourth quarter. Bank of New York Mellon Corp now owns 2,701,623 shares of the aerospace company’s stock valued at $124,248,000 after buying an additional 617,437 shares in the last quarter. Institutional investors own 83.88% of the company’s stock.

A number of research analysts have recently weighed in on TXT shares. ValuEngine cut Textron from a “hold” rating to a “sell” rating in a research report on Thursday, March 7th. TheStreet cut Textron from a “b” rating to a “c+” rating in a research report on Friday, January 4th. Susquehanna Bancshares assumed coverage on Textron in a research report on Thursday, January 10th. They issued a “neutral” rating and a $52.00 price target for the company. Credit Suisse Group assumed coverage on Textron in a research report on Monday, April 1st. They set a “neutral” rating and a $50.00 price objective for the company. Finally, Cowen reiterated a “buy” rating and set a $62.00 price objective on shares of Textron in a research report on Wednesday, February 27th. One analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $64.60.

TXT traded up $0.92 during midday trading on Friday, hitting $55.15. The company’s stock had a trading volume of 3,600,705 shares, compared to its average volume of 1,783,797. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.92 and a quick ratio of 1.05. The stock has a market capitalization of $12.90 billion, a price-to-earnings ratio of 16.51, a price-to-earnings-growth ratio of 1.19 and a beta of 1.65. Textron Inc. has a 52-week low of $43.27 and a 52-week high of $72.87.

Textron (NYSE:TXT) last released its quarterly earnings data on Wednesday, April 17th. The aerospace company reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.06. The business had revenue of $31.09 million for the quarter, compared to analyst estimates of $3.17 billion. Textron had a return on equity of 15.66% and a net margin of 8.79%. The company’s revenue was down 99.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.72 EPS. Equities research analysts anticipate that Textron Inc. will post 3.69 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were paid a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.15%. The ex-dividend date of this dividend was Thursday, March 14th. Textron’s dividend payout ratio is currently 2.40%.

In related news, CFO Frank T. Connor sold 72,732 shares of the business’s stock in a transaction that occurred on Monday, February 25th. The stock was sold at an average price of $55.17, for a total transaction of $4,012,624.44. Following the transaction, the chief financial officer now directly owns 186,456 shares of the company’s stock, valued at approximately $10,286,777.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Mark S. Bamford sold 4,500 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $54.75, for a total value of $246,375.00. The disclosure for this sale can be found here. Insiders sold a total of 458,112 shares of company stock worth $25,222,635 over the last ninety days. Corporate insiders own 1.40% of the company’s stock.

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Textron Profile

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.

See Also: Understanding Price to Earnings Ratio (PE)

Institutional Ownership by Quarter for Textron (NYSE:TXT)

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