Barington Capital Group L.P. Has $2.39 Million Stake in Textron Inc. (NYSE:TXT)

Barington Capital Group L.P. cut its holdings in Textron Inc. (NYSE:TXT - Free Report) by 44.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 31,225 shares of the aerospace company's stock after selling 25,000 shares during the period. Textron accounts for about 2.2% of Barington Capital Group L.P.'s portfolio, making the stock its 9th largest holding. Barington Capital Group L.P.'s holdings in Textron were worth $2,388,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Wellington Management Group LLP increased its position in shares of Textron by 50.2% during the fourth quarter. Wellington Management Group LLP now owns 603,171 shares of the aerospace company's stock worth $46,137,000 after acquiring an additional 201,696 shares during the period. Merit Financial Group LLC grew its holdings in 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 acquiring an additional 265 shares during the period. Empowered Funds LLC grew its holdings 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 period. Franklin Resources Inc. grew its holdings in Textron by 10.3% during the third quarter. Franklin Resources Inc. now owns 164,029 shares of the aerospace company's stock worth $14,505,000 after acquiring an additional 15,294 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in Textron by 44.6% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,390 shares of the aerospace company's stock worth $1,343,000 after purchasing an additional 5,367 shares in the last quarter. 86.03% of the stock is currently owned by institutional investors and hedge funds.

Textron Stock Performance

Textron stock traded up $0.67 on Tuesday, reaching $70.05. 1,227,827 shares of the stock were exchanged, compared to its average volume of 1,182,672. The stock has a market cap of $12.72 billion, a PE ratio of 16.25, a PEG ratio of 1.18 and a beta of 1.06. 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 Inc. has a twelve month low of $57.70 and a twelve month high of $94.57. The firm has a fifty day moving average price of $70.11 and a two-hundred day moving average price of $76.80.

Textron (NYSE:TXT - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The aerospace company reported $1.28 EPS for the quarter, beating analysts' consensus estimates of $1.17 by $0.11. Textron had a net margin of 6.01% and a return on equity of 14.92%. The business had revenue of $3.31 billion during the quarter, compared to analyst estimates of $3.26 billion. During the same quarter in the prior year, the business earned $1.20 earnings per share. The firm's revenue for the quarter was up 5.5% on a year-over-year basis. Sell-side analysts anticipate that Textron Inc. will post 6.12 EPS for the current year.

Textron Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be given a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.11%. The ex-dividend date is Friday, June 13th. Textron's dividend payout ratio (DPR) is presently 1.81%.

Analyst Ratings Changes

TXT has been the topic of several recent research reports. JPMorgan Chase & Co. reduced their price objective on Textron from $90.00 to $88.00 and set a "neutral" rating on the stock in a research report on Thursday, January 16th. Citigroup cut their price objective on Textron from $111.00 to $107.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Vertical Research upgraded Textron from a "hold" rating to a "buy" rating and set a $91.00 price objective on the stock in a report on Monday, January 6th. Susquehanna decreased their target price 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, TD Cowen raised shares of Textron to a "hold" rating in a report on Monday, February 24th. One analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, Textron has an average rating of "Hold" and an average target price of $87.70.

Insider Transactions at Textron

In other Textron news, VP Mark S. Bamford sold 5,451 shares of the business's stock in a transaction 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 transaction, the vice president now owns 18,223 shares of the company's stock, valued at approximately $1,324,447.64. The trade was a 23.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company 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.