Textron Inc. (NYSE:TXT) Shares Sold by AMJ Financial Wealth Management

AMJ Financial Wealth Management trimmed its stake in shares of Textron Inc. (NYSE:TXT - Free Report) by 24.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 70,127 shares of the aerospace company's stock after selling 22,547 shares during the period. AMJ Financial Wealth Management's holdings in Textron were worth $5,364,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of TXT. 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 boosted its position in Textron by 28.6% during the fourth quarter. Empowered Funds LLC now owns 20,132 shares of the aerospace company's stock worth $1,540,000 after acquiring an additional 4,480 shares during the last quarter. Franklin Resources Inc. grew its stake in Textron by 10.3% during the 3rd quarter. Franklin Resources Inc. now owns 164,029 shares of the aerospace company's stock valued at $14,505,000 after acquiring an additional 15,294 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in Textron by 44.6% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,390 shares of the aerospace company's stock valued at $1,343,000 after acquiring an additional 5,367 shares during the last quarter. Finally, Todd Asset Management LLC lifted its stake in Textron by 1.8% in the 4th quarter. Todd Asset Management LLC now owns 470,292 shares of the aerospace company's stock worth $35,973,000 after purchasing an additional 8,198 shares in the last quarter. Institutional investors and hedge funds own 86.03% of the company's stock.

Insider Activity

In related news, VP Mark S. Bamford sold 5,451 shares of the firm's stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $72.68, for a total transaction of $396,178.68. Following the transaction, the vice president now owns 18,223 shares of the company's stock, valued at $1,324,447.64. This trade represents a 23.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 1.70% of the company's stock.

Textron Stock Up 0.3 %

Shares of Textron stock traded up $0.22 during trading on Thursday, hitting $72.59. 121,452 shares of the stock were exchanged, compared to its average volume of 1,336,586. 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 firm's 50-day moving average price is $75.54 and its 200 day moving average price is $82.04. The stock has a market cap of $13.25 billion, a price-to-earnings ratio of 16.86, a price-to-earnings-growth ratio of 1.18 and a beta of 1.27. Textron Inc. has a 12-month low of $70.14 and a 12-month high of $97.33.

Textron (NYSE:TXT - Get Free Report) last posted 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 firm had revenue of $3.61 billion during the quarter, compared to analysts' expectations of $3.78 billion. Textron had a return on equity of 14.92% and a net margin of 6.01%. The firm's revenue was down 7.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.60 earnings per share. As a group, analysts forecast that Textron Inc. will post 6.12 earnings per share for the current fiscal year.

Textron Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be paid a dividend of $0.02 per share. The ex-dividend date is Friday, March 14th. This represents a $0.08 dividend on an annualized basis and a yield of 0.11%. Textron's dividend payout ratio is presently 1.86%.

Analyst Ratings Changes

Several analysts have issued reports on the company. Morgan Stanley dropped their target price on Textron from $86.00 to $82.00 and set an "equal weight" rating for the company in a report on Thursday, January 23rd. Vertical Research raised shares of Textron from a "hold" rating to a "buy" rating and set a $91.00 price objective for the company in a report on Monday, January 6th. Robert W. Baird decreased their target price on shares of Textron from $100.00 to $92.00 and set an "outperform" rating on the stock in a report on Thursday, January 23rd. TD Cowen upgraded shares of Textron to a "hold" rating in a report on Monday, February 24th. Finally, Susquehanna decreased their price objective on Textron from $100.00 to $90.00 and set a "positive" rating on the stock in a report on Wednesday, January 8th. 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. According to data from MarketBeat, Textron presently has an average rating of "Moderate Buy" and a consensus price target of $93.45.

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.