Baxter Bros Inc. Cuts Stock Position in Textron Inc. (NYSE:TXT)

Baxter Bros Inc. lessened its holdings in shares of Textron Inc. (NYSE:TXT - Free Report) by 22.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,690 shares of the aerospace company's stock after selling 9,095 shares during the period. Baxter Bros Inc.'s holdings in Textron were worth $2,424,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. True Wealth Design LLC purchased a new stake in Textron during the third quarter worth $26,000. SBI Securities Co. Ltd. purchased a new stake in shares of Textron during the 4th quarter worth about $31,000. Eastern Bank purchased a new position in shares of Textron in the 4th quarter valued at about $42,000. Truvestments Capital LLC purchased a new position in Textron during the third quarter worth approximately $43,000. Finally, Golden State Wealth Management LLC acquired a new stake in Textron in the fourth quarter valued at approximately $63,000. Hedge funds and other institutional investors own 86.03% of the company's stock.

Textron Trading Down 3.1 %

NYSE TXT traded down $2.36 on Friday, reaching $72.92. 1,075,585 shares of the company were exchanged, compared to its average volume of 1,153,198. Textron Inc. has a fifty-two week low of $70.14 and a fifty-two week high of $97.34. The stock has a market capitalization of $13.24 billion, a P/E ratio of 16.92, a price-to-earnings-growth ratio of 1.18 and a beta of 1.27. The business's fifty day moving average price is $74.49 and its 200 day moving average price is $80.21. The company has a current ratio of 1.76, a quick ratio of 0.84 and a debt-to-equity ratio of 0.45.

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Textron (NYSE:TXT - Get Free Report) last issued 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. Textron had a return on equity of 14.92% and a net margin of 6.01%. The firm had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.78 billion. During the same period last year, the company earned $1.60 EPS. The company's quarterly revenue was down 7.2% on a year-over-year basis. Analysts forecast that Textron Inc. will post 6.12 earnings per share for the current year.

Textron Dividend Announcement

The business also recently announced 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 of this dividend is Friday, March 14th. This represents a $0.08 annualized dividend and a yield of 0.11%. Textron's payout ratio is 1.86%.

Insiders Place Their Bets

In other news, VP Mark S. Bamford sold 5,451 shares of Textron stock in a transaction on Monday, February 24th. The shares were sold at an average price of $72.68, for a total transaction of $396,178.68. Following the completion of the sale, the vice president now directly 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.70% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on TXT shares. TD Cowen raised Textron to a "hold" rating in a research note on Monday, February 24th. Citigroup decreased their price objective on shares of Textron from $118.00 to $111.00 and set a "buy" rating on the stock in a report on Tuesday, January 21st. Bank of America cut shares of Textron from a "buy" rating to a "neutral" rating and cut their target price for the stock from $110.00 to $85.00 in a research note on Friday, January 24th. Robert W. Baird lowered their price objective on Textron from $100.00 to $92.00 and set an "outperform" rating on the stock in a report on Thursday, January 23rd. Finally, Susquehanna reduced their target price on Textron from $100.00 to $90.00 and set a "positive" rating for the company in a report on Wednesday, January 8th. One 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. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price 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.