Mirae Asset Global Investments Co. Ltd. Has $1.97 Million Position in Textron Inc. (NYSE:TXT)

Mirae Asset Global Investments Co. Ltd. lowered its stake in Textron Inc. (NYSE:TXT) by 4.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 24,528 shares of the aerospace company’s stock after selling 1,103 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Textron were worth $1,973,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Sky Investment Group LLC increased its holdings in shares of Textron by 4.1% in the fourth quarter. Sky Investment Group LLC now owns 5,100 shares of the aerospace company’s stock valued at $410,000 after purchasing an additional 200 shares in the last quarter. Venture Visionary Partners LLC grew its holdings in Textron by 4.4% during the 4th quarter. Venture Visionary Partners LLC now owns 17,031 shares of the aerospace company’s stock worth $1,370,000 after acquiring an additional 713 shares during the period. Allworth Financial LP grew its holdings in Textron by 12.0% during the 4th quarter. Allworth Financial LP now owns 1,283 shares of the aerospace company’s stock worth $103,000 after acquiring an additional 137 shares during the period. Fulton Bank N.A. grew its holdings in Textron by 3.4% during the 4th quarter. Fulton Bank N.A. now owns 9,177 shares of the aerospace company’s stock worth $738,000 after acquiring an additional 303 shares during the period. Finally, International Assets Investment Management LLC acquired a new stake in Textron during the 4th quarter worth $394,347,000. Institutional investors and hedge funds own 86.03% of the company’s stock.

Textron Trading Up 0.8 %

TXT opened at $93.30 on Friday. The stock has a market capitalization of $17.95 billion, a P/E ratio of 20.42, a P/E/G ratio of 1.45 and a beta of 1.30. Textron Inc. has a 12 month low of $61.27 and a 12 month high of $97.33. The firm’s fifty day simple moving average is $91.65 and its 200 day simple moving average is $83.38. The company has a current ratio of 1.92, a quick ratio of 1.03 and a debt-to-equity ratio of 0.50.

Textron (NYSE:TXT) last posted its quarterly earnings data on Wednesday, January 24th. The aerospace company reported $1.60 EPS for the quarter, beating the consensus estimate of $1.53 by $0.07. The business had revenue of $3.89 billion for the quarter, compared to analysts’ expectations of $3.97 billion. Textron had a net margin of 6.73% and a return on equity of 16.05%. The firm’s revenue was up 7.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.07 EPS. As a group, research analysts anticipate that Textron Inc. will post 6.27 EPS for the current fiscal year.

Textron Announces Dividend

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

Analysts Set New Price Targets

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

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.