CHURCHILL MANAGEMENT Corp Buys 41,575 Shares of Textron Inc. (NYSE:TXT)

CHURCHILL MANAGEMENT Corp boosted its stake in shares of Textron Inc. (NYSE:TXT) by 31.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 171,899 shares of the aerospace company’s stock after purchasing an additional 41,575 shares during the period. CHURCHILL MANAGEMENT Corp owned about 0.09% of Textron worth $16,490,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Adage Capital Partners GP L.L.C. raised its position in Textron by 93.7% in the third quarter. Adage Capital Partners GP L.L.C. now owns 1,474,191 shares of the aerospace company’s stock worth $115,193,000 after acquiring an additional 713,169 shares during the period. JPMorgan Chase & Co. raised its position in Textron by 11.6% in the third quarter. JPMorgan Chase & Co. now owns 5,745,108 shares of the aerospace company’s stock worth $448,923,000 after acquiring an additional 596,214 shares during the period. LSV Asset Management raised its position in shares of Textron by 15.9% during the 4th quarter. LSV Asset Management now owns 3,793,047 shares of the aerospace company’s stock valued at $305,037,000 after purchasing an additional 521,276 shares during the period. International Assets Investment Management LLC bought a new stake in shares of Textron during the 4th quarter valued at $394,347,000. Finally, Ferguson Wellman Capital Management Inc. bought a new stake in shares of Textron during the 1st quarter valued at $45,932,000. Institutional investors own 86.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on TXT. Susquehanna decreased their price objective on shares of Textron from $110.00 to $105.00 and set a “positive” rating on the stock in a research report on Friday, April 26th. Citigroup raised their price objective on shares of Textron from $104.00 to $111.00 and gave the company a “buy” rating in a research report on Thursday, April 4th. Bank of America raised shares of Textron from a “neutral” rating to a “buy” rating and raised their target price for the company from $85.00 to $105.00 in a research note on Friday, March 8th. StockNews.com cut shares of Textron from a “strong-buy” rating to a “buy” rating in a research note on Friday, April 26th. Finally, The Goldman Sachs Group raised their target price on shares of Textron from $103.00 to $120.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. One analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $99.29.

Textron Stock Up 0.6 %

Shares of Textron stock traded up $0.48 on Friday, reaching $86.74. The stock had a trading volume of 2,674,117 shares, compared to its average volume of 814,286. The company has a 50 day moving average price of $87.93 and a 200 day moving average price of $86.61. The company has a quick ratio of 0.84, a current ratio of 1.81 and a debt-to-equity ratio of 0.46. Textron Inc. has a 1 year low of $64.42 and a 1 year high of $97.33. The stock has a market capitalization of $16.54 billion, a P/E ratio of 18.53, a P/E/G ratio of 1.37 and a beta of 1.28.

Textron (NYSE:TXT) last released its earnings results on Thursday, April 25th. The aerospace company reported $1.20 earnings per share for the quarter, missing the consensus estimate of $1.28 by ($0.08). The company had revenue of $3.14 billion for the quarter, compared to analysts’ expectations of $3.29 billion. Textron had a return on equity of 16.30% and a net margin of 6.75%. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.05 EPS. As a group, equities research analysts forecast that Textron Inc. will post 6.27 EPS for the current year.

Textron Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be given a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.09%. The ex-dividend date of this dividend is Friday, June 14th. Textron’s dividend payout ratio is presently 1.71%.

Insiders Place Their Bets

In other news, Director Kathleen M. Bader sold 11,870 shares of the company’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $87.91, for a total value of $1,043,491.70. Following the sale, the director now directly owns 3,756 shares of the company’s stock, valued at approximately $330,189.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.70% of the stock is owned by insiders.

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.