Mackenzie Financial Corp Cuts Stake in Textron Inc. (NYSE:TXT)

Mackenzie Financial Corp decreased its holdings in Textron Inc. (NYSE:TXT) by 1.5% in the 4th quarter, HoldingsChannel.com reports. The fund owned 266,526 shares of the aerospace company’s stock after selling 4,037 shares during the quarter. Mackenzie Financial Corp’s holdings in Textron were worth $21,434,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of TXT. Metis Global Partners LLC increased its holdings in Textron by 12.8% during the 3rd quarter. Metis Global Partners LLC now owns 10,189 shares of the aerospace company’s stock worth $796,000 after purchasing an additional 1,158 shares during the period. LSV Asset Management increased its stake in shares of Textron by 7.6% during the third quarter. LSV Asset Management now owns 3,271,771 shares of the aerospace company’s stock worth $255,656,000 after buying an additional 230,560 shares during the period. Deutsche Bank AG raised its holdings in Textron by 36.9% in the third quarter. Deutsche Bank AG now owns 542,193 shares of the aerospace company’s stock valued at $42,367,000 after acquiring an additional 146,055 shares in the last quarter. AustralianSuper Pty Ltd lifted its stake in Textron by 13.2% in the fourth quarter. AustralianSuper Pty Ltd now owns 98,773 shares of the aerospace company’s stock worth $7,943,000 after acquiring an additional 11,510 shares during the last quarter. Finally, SG Americas Securities LLC grew its holdings in Textron by 269.1% during the 4th quarter. SG Americas Securities LLC now owns 20,896 shares of the aerospace company’s stock worth $1,680,000 after acquiring an additional 15,235 shares in the last quarter. 86.03% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Textron Price Performance

Shares of NYSE TXT opened at $92.58 on Friday. The stock has a market cap of $17.81 billion, a P/E ratio of 20.26, a P/E/G ratio of 1.45 and a beta of 1.30. Textron Inc. has a twelve month low of $61.27 and a twelve month high of $97.33. The stock has a 50 day moving average of $91.53 and a two-hundred day moving average of $83.27. 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 announced its earnings results on Wednesday, January 24th. The aerospace company reported $1.60 EPS for the quarter, beating analysts’ consensus estimates 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 company’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.07 EPS. On average, research analysts forecast that Textron Inc. will post 6.27 earnings per share for the current year.

Textron Announces Dividend

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

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.