Delek Group Ltd. Takes $1.18 Million Position in Textron Inc. (TXT)

Delek Group Ltd. acquired a new position in shares of Textron Inc. (NYSE:TXT) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 24,312 shares of the aerospace company’s stock, valued at approximately $1,175,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Primecap Management Co. CA grew its holdings in shares of Textron by 7.6% during the 3rd quarter. Primecap Management Co. CA now owns 4,985,260 shares of the aerospace company’s stock valued at $356,297,000 after purchasing an additional 353,242 shares during the last quarter. Victory Capital Management Inc. raised its stake in 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 purchasing an additional 470,595 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in 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 purchasing an additional 30,800 shares in the last quarter. Geode Capital Management LLC raised its stake in 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 purchasing an additional 131,360 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in 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 purchasing an additional 617,437 shares in the last quarter. 83.49% of the stock is currently owned by institutional investors and hedge funds.

In other news, Chairman Scott C. Donnelly sold 230,654 shares of the firm’s stock in a transaction that occurred on Friday, February 22nd. The shares were sold at an average price of $55.04, for a total value of $12,695,196.16. Following the transaction, the chairman now owns 707,495 shares in the company, valued at $38,940,524.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Mark S. Bamford sold 4,500 shares of the firm’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 transaction of $246,375.00. The disclosure for this sale can be found here. Insiders have sold 458,112 shares of company stock worth $25,222,635 over the last three months. Insiders own 1.40% of the company’s stock.

A number of equities research analysts recently weighed in on TXT shares. Zacks Investment Research raised shares of Textron from a “hold” rating to a “buy” rating and set a $58.00 target price on the stock in a research note on Tuesday. Jefferies Financial Group set a $59.00 target price on shares of Textron and gave the company a “buy” rating in a research note on Tuesday, January 8th. ValuEngine downgraded shares of Textron from a “hold” rating to a “sell” rating in a research note on Thursday, March 7th. Cowen reaffirmed a “buy” rating and issued a $62.00 target price on shares of Textron in a research note on Wednesday, February 27th. Finally, Morgan Stanley lowered their target price on shares of Textron from $71.00 to $64.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 14th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $67.42.

Shares of TXT stock traded down $0.25 during trading hours on Thursday, hitting $52.11. 9,375 shares of the company’s stock were exchanged, compared to its average volume of 1,375,350. The company has a market capitalization of $12.14 billion, a PE ratio of 15.56, a price-to-earnings-growth ratio of 1.13 and a beta of 1.67. Textron Inc. has a 12-month low of $43.27 and a 12-month high of $72.87. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.05 and a current ratio of 2.14.

Textron (NYSE:TXT) last posted its quarterly earnings results on Thursday, January 24th. The aerospace company reported $1.15 EPS for the quarter, topping the consensus estimate of $0.98 by $0.17. The firm had revenue of $3.75 billion for the quarter, compared to the consensus estimate of $3.99 billion. Textron had a net margin of 8.75% and a return on equity of 15.51%. The business’s revenue was down 6.6% compared to the same quarter last year. During the same period last year, the firm posted $0.74 earnings per share. On average, research analysts predict that Textron Inc. will post 3.67 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Friday, March 15th will be paid a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.15%. The ex-dividend date of this dividend is Thursday, March 14th. Textron’s dividend payout ratio (DPR) is presently 2.40%.

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About Textron

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.

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Institutional Ownership by Quarter for Textron (NYSE:TXT)

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