Allspring Global Investments Holdings LLC Has $11.46 Million Holdings in Textron Inc. (NYSE:TXT)

Allspring Global Investments Holdings LLC reduced its stake in shares of Textron Inc. (NYSE:TXT) by 5.6% during the 4th quarter, Holdings Channel.com reports. The firm owned 142,505 shares of the aerospace company’s stock after selling 8,470 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Textron were worth $11,460,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. JPMorgan Chase & Co. lifted its holdings in Textron by 27.7% during the 1st quarter. JPMorgan Chase & Co. now owns 4,596,887 shares of the aerospace company’s stock worth $324,678,000 after buying an additional 997,119 shares in the last quarter. Man Group plc acquired a new position in shares of Textron during the fourth quarter valued at $64,467,000. Adage Capital Partners GP L.L.C. boosted its holdings 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 valued at $115,193,000 after acquiring an additional 713,169 shares during the last quarter. Swiss National Bank acquired a new stake in Textron in the third quarter worth about $50,696,000. Finally, BlackRock Inc. raised its holdings in Textron by 2.9% during the 1st quarter. BlackRock Inc. now owns 18,231,026 shares of the aerospace company’s stock worth $1,287,657,000 after purchasing an additional 519,468 shares during the last quarter. Institutional investors and hedge funds own 86.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. UBS Group lifted their price target on shares of Textron from $77.00 to $81.00 and gave the stock a “sell” rating in a research report on Friday, January 26th. The Goldman Sachs Group reiterated a “buy” rating and set a $98.00 target price on shares of Textron in a research report on Tuesday, January 2nd. Bank of America raised Textron from a “neutral” rating to a “buy” rating and increased their price target for the company from $85.00 to $105.00 in a research note on Friday, March 8th. JPMorgan Chase & Co. upped their price objective on Textron from $84.00 to $85.00 and gave the company a “neutral” rating in a report on Wednesday, December 20th. Finally, Citigroup raised their target price on Textron from $104.00 to $111.00 and gave the stock a “buy” rating in a report on Thursday, April 4th. One equities 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 company. According to MarketBeat, Textron currently has a consensus rating of “Moderate Buy” and a consensus target price of $90.88.

Textron Stock Down 1.0 %

NYSE:TXT opened at $93.06 on Tuesday. The stock has a market cap of $17.90 billion, a price-to-earnings ratio of 20.36, a PEG ratio of 1.48 and a beta of 1.30. The company has a current ratio of 1.92, a quick ratio of 1.03 and a debt-to-equity ratio of 0.50. The stock has a 50-day moving average price of $91.19 and a two-hundred day moving average price of $83.03. Textron Inc. has a 1 year low of $61.27 and a 1 year high of $97.33.

Textron (NYSE:TXT) last posted its 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. Textron had a return on equity of 16.05% and a net margin of 6.73%. The business had revenue of $3.89 billion during the quarter, compared to analysts’ expectations of $3.97 billion. During the same period in the prior year, the business earned $1.07 EPS. Textron’s revenue for the quarter was up 7.0% compared to the same quarter last year. As a group, equities analysts expect that Textron Inc. will post 6.27 earnings per share for the current year.

Textron Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were given a $0.02 dividend. 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 is currently 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.