Textron Inc. (NYSE:TXT) Shares Sold by Amundi

Amundi cut its position in Textron Inc. (NYSE:TXT) by 6.4% during the fourth quarter, HoldingsChannel.com reports. The fund owned 100,092 shares of the aerospace company’s stock after selling 6,839 shares during the period. Amundi’s holdings in Textron were worth $7,607,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Merit Financial Group LLC grew its holdings in shares of Textron by 5.9% during the fourth quarter. Merit Financial Group LLC now owns 4,784 shares of the aerospace company’s stock worth $366,000 after buying an additional 265 shares in the last quarter. Empowered Funds LLC raised its holdings in Textron by 28.6% in the 4th quarter. Empowered Funds LLC now owns 20,132 shares of the aerospace company’s stock valued at $1,540,000 after acquiring an additional 4,480 shares during the last quarter. Franklin Resources Inc. lifted its stake in Textron by 10.3% in the 3rd quarter. Franklin Resources Inc. now owns 164,029 shares of the aerospace company’s stock worth $14,505,000 after purchasing an additional 15,294 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Textron by 44.6% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,390 shares of the aerospace company’s stock valued at $1,343,000 after purchasing an additional 5,367 shares in the last quarter. Finally, Todd Asset Management LLC lifted its position in Textron by 1.8% during the fourth quarter. Todd Asset Management LLC now owns 470,292 shares of the aerospace company’s stock worth $35,973,000 after buying an additional 8,198 shares in the last quarter. 86.03% of the stock is currently owned by hedge funds and other institutional investors.

Textron Stock Performance

NYSE TXT opened at $73.38 on Friday. The company has a market cap of $13.33 billion, a P/E ratio of 17.02, a P/E/G ratio of 1.18 and a beta of 1.26. Textron Inc. has a 1-year low of $70.14 and a 1-year high of $97.34. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.76 and a quick ratio of 0.84. The stock has a 50-day moving average of $75.06 and a two-hundred day moving average of $81.22.

Textron (NYSE:TXT) last announced its earnings results on Wednesday, January 22nd. The aerospace company reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.07. Textron had a net margin of 6.01% and a return on equity of 14.92%. The firm had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $3.78 billion. During the same period in the prior year, the firm earned $1.60 EPS. The firm’s revenue for the quarter was down 7.2% on a year-over-year basis. As a group, analysts anticipate that Textron Inc. will post 6.12 EPS for the current year.

Textron Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a dividend of $0.02 per share. The ex-dividend date is Friday, March 14th. This represents a $0.08 annualized dividend and a yield of 0.11%. Textron’s dividend payout ratio (DPR) is 1.86%.

Insider Buying and Selling at Textron

In related news, VP Mark S. Bamford sold 5,451 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $72.68, for a total transaction of $396,178.68. Following the sale, the vice president now directly owns 18,223 shares in the company, valued at approximately $1,324,447.64. This represents a 23.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.70% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on TXT shares. JPMorgan Chase & Co. lowered their price target on shares of Textron from $90.00 to $88.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Bank of America cut shares of Textron from a “buy” rating to a “neutral” rating and dropped their price target for the company from $110.00 to $85.00 in a research note on Friday, January 24th. TD Cowen raised shares of Textron to a “hold” rating in a research report on Monday, February 24th. Robert W. Baird lowered their price objective on Textron from $100.00 to $92.00 and set an “outperform” rating for the company in a research report on Thursday, January 23rd. Finally, Morgan Stanley decreased their price target on Textron from $86.00 to $82.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 23rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Textron presently has an average rating of “Moderate Buy” and a consensus price target of $93.45.

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.