Mackenzie Financial Corp Sells 4,037 Shares of Textron Inc. (NYSE:TXT)

Mackenzie Financial Corp decreased its holdings in Textron Inc. (NYSE:TXT) by 1.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 266,526 shares of the aerospace company’s stock after selling 4,037 shares during the period. Mackenzie Financial Corp owned about 0.14% of Textron worth $21,434,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of TXT. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of Textron by 6.6% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 29,493 shares of the aerospace company’s stock worth $2,194,000 after acquiring an additional 1,826 shares in the last quarter. Great West Life Assurance Co. Can raised its holdings in Textron by 0.9% in the first quarter. Great West Life Assurance Co. Can now owns 55,591 shares of the aerospace company’s stock worth $4,331,000 after purchasing an additional 500 shares in the last quarter. Yousif Capital Management LLC lifted its position in shares of Textron by 0.7% during the first quarter. Yousif Capital Management LLC now owns 26,689 shares of the aerospace company’s stock valued at $1,985,000 after buying an additional 175 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Textron by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 23,503,096 shares of the aerospace company’s stock valued at $1,748,161,000 after buying an additional 177,502 shares in the last quarter. Finally, Covestor Ltd grew its position in shares of Textron by 52.6% in the 1st quarter. Covestor Ltd now owns 1,506 shares of the aerospace company’s stock worth $112,000 after buying an additional 519 shares during the last quarter. Hedge funds and other institutional investors own 86.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on TXT. UBS Group increased their target price on shares of Textron from $77.00 to $81.00 and gave the company a “sell” rating in a research report on Friday, January 26th. Bank of America raised Textron from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $85.00 to $105.00 in a research report on Friday, March 8th. StockNews.com raised Textron from a “buy” rating to a “strong-buy” rating in a research report on Thursday, January 25th. The Goldman Sachs Group raised their price target on Textron from $103.00 to $120.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, Citigroup upped their price objective on shares of Textron from $104.00 to $111.00 and gave the company a “buy” rating in a report on Thursday, April 4th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Textron has an average rating of “Moderate Buy” and an average target price of $93.63.

Textron Stock Up 0.4 %

Shares of TXT stock opened at $92.58 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.03 and a current ratio of 1.92. Textron Inc. has a fifty-two week low of $61.27 and a fifty-two week high of $97.33. The firm has a market capitalization of $17.81 billion, a PE ratio of 20.26, a P/E/G ratio of 1.45 and a beta of 1.30. The stock’s 50-day simple moving average is $91.53 and its 200-day simple moving average is $83.27.

Textron (NYSE:TXT) last posted its quarterly earnings results on Wednesday, January 24th. The aerospace company reported $1.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.53 by $0.07. The company had revenue of $3.89 billion during the quarter, compared to analyst estimates of $3.97 billion. Textron had a net margin of 6.73% and a return on equity of 16.05%. Textron’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period last year, the firm posted $1.07 EPS. Equities analysts expect that Textron Inc. will post 6.27 earnings per share for the current year.

Textron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were issued a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.09%. The ex-dividend date of this dividend was Thursday, March 14th. Textron’s payout ratio is 1.75%.

Textron 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.