Aviva PLC reduced its position in Textron Inc. (NYSE:TXT - Free Report) by 12.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 110,209 shares of the aerospace company's stock after selling 15,470 shares during the period. Aviva PLC owned about 0.06% of Textron worth $8,430,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also bought and sold shares of TXT. SBI Securities Co. Ltd. acquired a new stake in Textron in the 4th quarter worth about $31,000. Eastern Bank acquired a new stake in shares of Textron in the fourth quarter valued at approximately $42,000. Golden State Wealth Management LLC bought a new stake in shares of Textron in the fourth quarter valued at approximately $63,000. McClarren Financial Advisors Inc. acquired a new stake in Textron during the fourth quarter worth approximately $68,000. Finally, Geneos Wealth Management Inc. raised its holdings in Textron by 33.0% in the 4th quarter. Geneos Wealth Management Inc. now owns 964 shares of the aerospace company's stock valued at $74,000 after acquiring an additional 239 shares in the last quarter. Institutional investors own 86.03% of the company's stock.
Insider Activity
In other news, VP Mark S. Bamford sold 5,451 shares of Textron 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 directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.70% of the company's stock.
Textron Price Performance
Shares of TXT stock traded up $0.22 on Monday, reaching $65.90. The company's stock had a trading volume of 203,246 shares, compared to its average volume of 1,181,773. The company has a market capitalization of $11.97 billion, a P/E ratio of 15.29, a PEG ratio of 1.18 and a beta of 1.06. Textron Inc. has a 12-month low of $57.70 and a 12-month high of $95.86. The stock's 50 day simple moving average is $71.70 and its 200-day simple moving average is $78.41. The company has a quick ratio of 0.84, a current ratio of 1.76 and a debt-to-equity ratio of 0.45.
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, topping analysts' consensus estimates of $1.27 by $0.07. The company had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.78 billion. Textron had a net margin of 6.01% and a return on equity of 14.92%. The firm's revenue was down 7.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.60 EPS. As a group, equities analysts predict that Textron Inc. will post 6.12 earnings per share for the current fiscal year.
Textron Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were given a $0.02 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.08 annualized dividend and a yield of 0.12%. Textron's payout ratio is currently 1.86%.
Analysts Set New Price Targets
A number of equities research analysts have issued reports on the stock. Barclays reduced their price objective on shares of Textron from $104.00 to $95.00 and set an "overweight" rating on the stock in a research note on Monday, December 23rd. Morgan Stanley decreased their price objective on shares of Textron from $82.00 to $71.00 and set an "equal weight" rating on the stock in a research note on Friday. JPMorgan Chase & Co. cut their target price 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 lowered Textron from a "buy" rating to a "neutral" rating and decreased their price target for the company from $110.00 to $85.00 in a research note on Friday, January 24th. Finally, TD Cowen upgraded Textron to a "hold" rating in a research report on Monday, February 24th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $92.09.
View Our Latest Report on TXT
Textron Company Profile
(
Free Report)
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.
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