Wells Fargo & Company MN Has $18.84 Million Holdings in Textron Inc. (NYSE:TXT)

Wells Fargo & Company MN lifted its stake in shares of Textron Inc. (NYSE:TXT) by 0.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 246,268 shares of the aerospace company’s stock after buying an additional 293 shares during the quarter. Wells Fargo & Company MN’s holdings in Textron were worth $18,837,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of TXT. Wellington Management Group LLP grew its holdings in Textron by 50.2% in the fourth quarter. Wellington Management Group LLP now owns 603,171 shares of the aerospace company’s stock worth $46,137,000 after purchasing an additional 201,696 shares during the period. Merit Financial Group LLC grew its stake in shares of Textron by 5.9% in the 4th quarter. Merit Financial Group LLC now owns 4,784 shares of the aerospace company’s stock valued at $366,000 after buying an additional 265 shares during the period. Empowered Funds LLC increased its position in Textron by 28.6% in the 4th quarter. Empowered Funds LLC now owns 20,132 shares of the aerospace company’s stock valued at $1,540,000 after buying an additional 4,480 shares in the last quarter. Franklin Resources Inc. raised its stake in Textron by 10.3% during the 3rd quarter. Franklin Resources Inc. now owns 164,029 shares of the aerospace company’s stock worth $14,505,000 after buying an additional 15,294 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in Textron by 44.6% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,390 shares of the aerospace company’s stock worth $1,343,000 after acquiring an additional 5,367 shares in the last quarter. Institutional investors own 86.03% of the company’s stock.

Insider Buying and Selling at Textron

In related news, VP Mark S. Bamford sold 5,451 shares of Textron stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $72.68, for a total value of $396,178.68. Following the sale, the vice president now owns 18,223 shares of the company’s stock, valued at approximately $1,324,447.64. The trade was a 23.03 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.70% of the company’s stock.

Wall Street Analyst Weigh In

TXT has been the topic of a number of research reports. Citigroup lowered their target price on Textron from $111.00 to $107.00 and set a “buy” rating on the stock in a research report on Thursday. Susquehanna dropped 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. Vertical Research raised shares of Textron from a “hold” rating to a “buy” rating and set a $91.00 target price for the company in a research report on Monday, January 6th. TD Cowen upgraded shares of Textron to a “hold” rating in a report on Monday, February 24th. Finally, Morgan Stanley cut their price target on Textron from $82.00 to $71.00 and set an “equal weight” rating for the company in a research note on Friday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Textron presently has an average rating of “Moderate Buy” and an average target price of $92.09.

Textron Stock Performance

TXT stock opened at $65.64 on Monday. The company has a quick ratio of 0.84, a current ratio of 1.76 and a debt-to-equity ratio of 0.45. The firm has a market cap of $11.92 billion, a PE ratio of 15.23, a P/E/G ratio of 1.18 and a beta of 1.06. The business has a 50 day moving average of $71.70 and a 200-day moving average of $78.41. Textron Inc. has a 12-month low of $57.70 and a 12-month high of $95.86.

Textron (NYSE:TXT) last announced its quarterly earnings data on Wednesday, January 22nd. The aerospace company reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $0.07. The firm had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.78 billion. Textron had a return on equity of 14.92% and a net margin of 6.01%. The business’s revenue for the quarter was down 7.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.60 EPS. As a group, sell-side analysts expect that Textron Inc. will post 6.12 earnings per share for the current year.

Textron Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were given a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.12%. The ex-dividend date was Friday, March 14th. Textron’s dividend payout ratio is 1.86%.

About Textron

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.