Textron Inc. (NYSE:TXT) Shares Sold by American Century Companies Inc.

American Century Companies Inc. lowered its stake in shares of Textron Inc. (NYSE:TXT - Free Report) by 23.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 195,003 shares of the aerospace company's stock after selling 58,224 shares during the quarter. American Century Companies Inc. owned about 0.11% of Textron worth $14,916,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new position in Textron during the 4th quarter worth $41,451,000. Boston Partners lifted its position 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 purchasing an additional 333,127 shares during the period. Brandes Investment Partners LP lifted its position in Textron by 19.4% in 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 purchasing an additional 302,712 shares during the period. International Assets Investment Management LLC purchased a new stake in Textron in the 4th quarter valued at approximately $11,523,000. Finally, Wealthfront Advisers LLC increased its position in Textron by 384.7% during 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. Institutional investors and hedge funds own 86.03% of the company's stock.

Insider Buying and Selling at Textron

In related news, VP Mark S. Bamford sold 5,451 shares of Textron stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $72.68, for a total value of $396,178.68. Following the completion of the transaction, the vice president now directly owns 18,223 shares in the company, valued at approximately $1,324,447.64. This trade represents a 23.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.70% of the stock is owned by insiders.

Textron Stock Down 9.5 %

NYSE:TXT traded down $6.33 during mid-day trading on Friday, hitting $60.54. The company had a trading volume of 3,236,995 shares, compared to its average volume of 1,168,399. The business has a fifty day simple moving average of $73.49 and a 200-day simple moving average of $79.56. 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 Inc. has a 1 year low of $60.38 and a 1 year high of $97.34. 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 (NYSE:TXT - Get Free Report) last released its quarterly earnings results on Wednesday, January 22nd. The aerospace company reported $1.34 earnings per share for the quarter, topping analysts' consensus estimates of $1.27 by $0.07. Textron had a return on equity of 14.92% and a net margin of 6.01%. The firm had revenue of $3.61 billion during the quarter, compared to analysts' expectations of $3.78 billion. During the same quarter in the prior year, the business earned $1.60 EPS. Textron's quarterly revenue was down 7.2% compared to the same quarter last year. Equities analysts forecast that Textron Inc. will post 6.12 earnings per share for the current fiscal year.

Textron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were paid a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.13%. The ex-dividend date of this dividend was Friday, March 14th. Textron's dividend payout ratio (DPR) is 1.86%.

Analysts Set New Price Targets

Several brokerages recently issued reports on TXT. Barclays reduced their price objective on Textron from $104.00 to $95.00 and set an "overweight" rating for the company in a report on Monday, December 23rd. JPMorgan Chase & Co. dropped their target price on shares of Textron from $90.00 to $88.00 and set a "neutral" rating for the company in a report on Thursday, January 16th. Vertical Research upgraded Textron from a "hold" rating to a "buy" rating and set a $91.00 price objective for the company in a research report on Monday, January 6th. Citigroup dropped their price target on Textron from $118.00 to $111.00 and set a "buy" rating for the company in a research report on Tuesday, January 21st. Finally, Bank of America cut Textron from a "buy" rating to a "neutral" rating and cut their price target for the stock from $110.00 to $85.00 in a report on Friday, January 24th. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $93.45.

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.