Textron Inc. (NYSE:TXT) Holdings Reduced by American Century Companies Inc.

American Century Companies Inc. cut its stake in Textron Inc. (NYSE:TXT - Free Report) by 23.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 195,003 shares of the aerospace company's stock after selling 58,224 shares during the period. American Century Companies Inc. owned approximately 0.11% of Textron worth $14,916,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Raymond James Financial Inc. acquired a new position in shares of Textron in the 4th quarter valued at $41,451,000. Boston Partners boosted its holdings in Textron by 4.7% in the fourth quarter. Boston Partners now owns 7,483,692 shares of the aerospace company's stock valued at $572,465,000 after acquiring an additional 333,127 shares during the last quarter. Brandes Investment Partners LP grew its position in Textron by 19.4% during the fourth quarter. Brandes Investment Partners LP now owns 1,859,703 shares of the aerospace company's stock valued at $142,249,000 after acquiring an additional 302,712 shares during the period. International Assets Investment Management LLC acquired a new stake in Textron during the fourth quarter worth about $11,523,000. Finally, Wealthfront Advisers LLC raised its holdings in shares of Textron by 384.7% in the 4th quarter. Wealthfront Advisers LLC now owns 175,347 shares of the aerospace company's stock worth $13,412,000 after purchasing an additional 139,173 shares during the period. 86.03% of the stock is currently owned by hedge funds and other institutional investors.

Textron Stock Down 7.7 %

Shares of Textron stock traded down $5.60 on Thursday, hitting $66.88. 1,976,853 shares of the company's stock traded hands, compared to its average volume of 1,160,347. Textron Inc. has a 52-week low of $65.97 and a 52-week high of $97.34. The company has a quick ratio of 0.84, a current ratio of 1.76 and a debt-to-equity ratio of 0.45. The stock has a market cap of $12.15 billion, a P/E ratio of 15.52, a PEG ratio of 1.18 and a beta of 1.27. The firm's 50-day moving average is $74.06 and its 200 day moving average is $79.90.

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Textron (NYSE:TXT - Get Free Report) last issued its earnings results on Wednesday, January 22nd. The aerospace company reported $1.34 EPS 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 analyst estimates of $3.78 billion. Textron had a return on equity of 14.92% and a net margin of 6.01%. The business's revenue was down 7.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.60 EPS. Equities analysts anticipate that Textron Inc. will post 6.12 earnings per share for the current year.

Textron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were paid a dividend of $0.02 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.08 annualized dividend and a yield of 0.12%. Textron's dividend payout ratio (DPR) is 1.86%.

Wall Street Analyst Weigh In

TXT has been the subject of a number of research analyst reports. Robert W. Baird dropped their target price on shares of Textron from $100.00 to $92.00 and set an "outperform" rating for the company in a research report on Thursday, January 23rd. JPMorgan Chase & Co. dropped their price objective on shares of Textron from $90.00 to $88.00 and set a "neutral" rating for the company in a research report on Thursday, January 16th. Morgan Stanley reduced their target price on shares of Textron from $86.00 to $82.00 and set an "equal weight" rating on the stock in a report on Thursday, January 23rd. Citigroup lowered their price target on Textron from $118.00 to $111.00 and set a "buy" rating for the company in a report on Tuesday, January 21st. Finally, Susquehanna cut their price objective on Textron from $100.00 to $90.00 and set a "positive" rating on the stock in a research report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Textron has an average rating of "Moderate Buy" and an average price target of $93.45.

Insider Buying and Selling at Textron

In related news, VP Mark S. Bamford sold 5,451 shares of the firm's stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $72.68, for a total value of $396,178.68. Following the sale, the vice president now owns 18,223 shares of the company's stock, valued at approximately $1,324,447.64. This trade represents a 23.03 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.70% of the stock is currently owned by insiders.

About Textron

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.