Amundi Trims Stock Position in Textron Inc. (NYSE:TXT)

Amundi decreased its stake in Textron Inc. (NYSE:TXT - Free Report) by 6.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 100,092 shares of the aerospace company's stock after selling 6,839 shares during the period. Amundi owned 0.05% of Textron worth $7,607,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. True Wealth Design LLC purchased a new stake in shares of Textron during the 3rd quarter worth approximately $26,000. SBI Securities Co. Ltd. bought a new position in Textron during the fourth quarter valued at $31,000. Eastern Bank bought a new position in Textron during the fourth quarter valued at $42,000. Truvestments Capital LLC purchased a new stake in Textron in the third quarter worth $43,000. Finally, Venturi Wealth Management LLC raised its stake in shares of Textron by 69.5% in the third quarter. Venturi Wealth Management LLC now owns 566 shares of the aerospace company's stock valued at $50,000 after buying an additional 232 shares during the period. Institutional investors own 86.03% of the company's stock.

Insider Transactions at Textron

In other news, VP Mark S. Bamford sold 5,451 shares of the business'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 value of $396,178.68. Following the completion of the sale, the vice president now directly owns 18,223 shares in the company, valued at approximately $1,324,447.64. The trade was a 23.03 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.70% of the stock is currently owned by insiders.

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Textron Price Performance

NYSE:TXT traded up $0.25 during trading hours on Wednesday, hitting $74.50. The stock had a trading volume of 752,297 shares, compared to its average volume of 1,364,633. The company has a 50 day simple moving average of $75.02 and a two-hundred day simple moving average of $80.93. The firm has a market capitalization of $13.53 billion, a price-to-earnings ratio of 17.29, a P/E/G ratio of 1.18 and a beta of 1.27. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.76 and a quick ratio of 0.84. Textron Inc. has a one year low of $70.14 and a one year high of $97.33.

Textron (NYSE:TXT - Get Free Report) last posted its quarterly earnings data on Wednesday, January 22nd. The aerospace company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.07. Textron had a return on equity of 14.92% and a net margin of 6.01%. The company had revenue of $3.61 billion during the quarter, compared to analyst estimates of $3.78 billion. During the same quarter last year, the company earned $1.60 earnings per share. The firm's quarterly revenue was down 7.2% on a year-over-year basis. Research analysts forecast that Textron Inc. will post 6.12 earnings per share for the current fiscal 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 paid a $0.02 dividend. The ex-dividend date of this dividend 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 Upgrades and Downgrades

TXT has been the subject of several research reports. JPMorgan Chase & Co. cut their price target on Textron from $90.00 to $88.00 and set a "neutral" rating for the company in a research note on Thursday, January 16th. Bank of America downgraded shares of Textron from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $110.00 to $85.00 in a report on Friday, January 24th. Barclays reduced their target price on shares of Textron from $104.00 to $95.00 and set an "overweight" rating for the company in a research note on Monday, December 23rd. Morgan Stanley dropped their price target on shares of Textron from $86.00 to $82.00 and set an "equal weight" rating on the stock in a research note on Thursday, January 23rd. Finally, Robert W. Baird cut their price objective on shares of Textron from $100.00 to $92.00 and set an "outperform" rating for the company in a report on Thursday, January 23rd. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Textron has an average rating of "Moderate Buy" and an average 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.