Orion Portfolio Solutions LLC Decreases Stock Holdings in Textron Inc. (NYSE:TXT)

Orion Portfolio Solutions LLC cut its stake in Textron Inc. (NYSE:TXT) by 21.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,968 shares of the aerospace company’s stock after selling 3,837 shares during the period. Orion Portfolio Solutions LLC’s holdings in Textron were worth $1,068,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. SBI Securities Co. Ltd. acquired a new position in shares of Textron during the 4th quarter worth approximately $31,000. Eastern Bank acquired a new position in shares of Textron in the fourth quarter worth $42,000. Golden State Wealth Management LLC purchased a new stake in shares of Textron in the fourth quarter valued at $63,000. McClarren Financial Advisors Inc. acquired a new stake in shares of Textron during the fourth quarter valued at $68,000. Finally, Geneos Wealth Management Inc. increased its position in Textron by 33.0% during the 4th quarter. Geneos Wealth Management Inc. now owns 964 shares of the aerospace company’s stock worth $74,000 after purchasing an additional 239 shares in the last quarter. 86.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Textron

In related news, VP Mark S. Bamford sold 5,451 shares of Textron stock in a transaction 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 owns 18,223 shares of the company’s stock, valued at $1,324,447.64. The trade was a 23.03 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.70% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on TXT. Barclays lowered their price target on shares of Textron from $104.00 to $95.00 and set an “overweight” rating for the company in a report on Monday, December 23rd. Morgan Stanley reduced 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. TD Cowen raised Textron to a “hold” rating in a research report on Monday, February 24th. Vertical Research upgraded Textron from a “hold” rating to a “buy” rating and set a $91.00 target price on the stock in a research report on Monday, January 6th. Finally, Susquehanna dropped their price objective on shares of Textron from $100.00 to $90.00 and set a “positive” rating for the company in a research note on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Textron presently has a consensus rating of “Moderate Buy” and an average target price of $93.45.

Textron Stock Performance

NYSE:TXT opened at $60.54 on Friday. The firm’s fifty day simple moving average is $73.49 and its 200 day simple moving average is $79.56. The company has a current ratio of 1.76, a quick ratio of 0.84 and a debt-to-equity ratio of 0.45. Textron Inc. has a twelve month low of $60.38 and a twelve month high of $97.34. The firm has a market capitalization of $11.00 billion, a price-to-earnings ratio of 14.05, a PEG ratio of 1.18 and a beta of 1.27.

Textron (NYSE:TXT) last issued 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. The company had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.78 billion. Textron had a return on equity of 14.92% and a net margin of 6.01%. The company’s revenue was down 7.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.60 earnings per share. As a group, equities research analysts expect that Textron Inc. will post 6.12 earnings per share for the current fiscal year.

Textron Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were paid a dividend of $0.02 per share. The ex-dividend date was Friday, March 14th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.13%. Textron’s dividend payout ratio is currently 1.86%.

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.