Atria Investments Inc Sells 5,294 Shares of Textron Inc. (NYSE:TXT)

Atria Investments Inc lowered its position in Textron Inc. (NYSE:TXT - Free Report) by 43.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,988 shares of the aerospace company's stock after selling 5,294 shares during the quarter. Atria Investments Inc's holdings in Textron were worth $535,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in TXT. Merit Financial Group LLC increased its stake in shares of Textron by 5.9% in the fourth quarter. Merit Financial Group LLC now owns 4,784 shares of the aerospace company's stock valued at $366,000 after buying an additional 265 shares during the period. Empowered Funds LLC increased its position in Textron by 28.6% during the 4th quarter. Empowered Funds LLC now owns 20,132 shares of the aerospace company's stock valued at $1,540,000 after purchasing an additional 4,480 shares during the period. Franklin Resources Inc. lifted its position in shares of Textron by 10.3% in the 3rd quarter. Franklin Resources Inc. now owns 164,029 shares of the aerospace company's stock worth $14,505,000 after purchasing an additional 15,294 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of 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 purchasing an additional 5,367 shares during the last quarter. Finally, Todd Asset Management LLC increased its position in shares of Textron by 1.8% during the fourth quarter. Todd Asset Management LLC now owns 470,292 shares of the aerospace company's stock worth $35,973,000 after buying an additional 8,198 shares during the period. Institutional investors own 86.03% of the company's stock.

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Textron Stock Up 0.3 %

Shares of NYSE TXT traded up $0.25 during mid-day trading on Wednesday, reaching $74.50. 620,343 shares of the company's stock traded hands, compared to its average volume of 1,083,469. 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 business has a 50-day simple moving average of $75.02 and a 200 day simple moving average of $80.93. The stock has a market cap of $13.53 billion, a P/E ratio of 17.29, a PEG ratio of 1.18 and a beta of 1.27. Textron Inc. has a 1-year low of $70.14 and a 1-year high of $97.34.

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 (EPS) for the quarter, beating 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 business had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.78 billion. During the same quarter in the previous year, the business earned $1.60 EPS. The company's quarterly revenue was down 7.2% on a year-over-year basis. On average, analysts expect that Textron Inc. will post 6.12 EPS for the current fiscal year.

Textron Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages have commented on TXT. TD Cowen upgraded Textron to a "hold" rating in a report on Monday, February 24th. Bank of America downgraded Textron from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $110.00 to $85.00 in a report on Friday, January 24th. Morgan Stanley cut their price target on Textron from $86.00 to $82.00 and set an "equal weight" rating on the stock in a report on Thursday, January 23rd. Susquehanna lowered 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. Finally, JPMorgan Chase & Co. reduced their price target 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. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $93.45.

Insiders Place Their Bets

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

Textron Company 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.