Textron Inc. (NYSE:TXT) Shares Sold by Bridgewater Associates LP

Bridgewater Associates LP trimmed its holdings in Textron Inc. (NYSE:TXT - Free Report) by 69.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 42,111 shares of the aerospace company's stock after selling 94,544 shares during the quarter. Bridgewater Associates LP's holdings in Textron were worth $3,221,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. acquired a new position in Textron in the fourth quarter valued at approximately $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 acquired 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 shares of Textron in the fourth quarter valued at approximately $68,000. Finally, Geneos Wealth Management Inc. boosted its holdings in shares of Textron by 33.0% in the fourth 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 during the period. 86.03% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Textron

In related news, VP Mark S. Bamford sold 5,451 shares of the business's 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 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.70% of the stock is currently owned by corporate insiders.

Textron Price Performance

Shares of TXT stock traded up $0.98 during mid-day trading on Wednesday, reaching $66.43. The stock had a trading volume of 513,514 shares, compared to its average volume of 1,493,956. Textron Inc. has a 12-month low of $57.70 and a 12-month high of $95.86. The company has a market cap of $12.07 billion, a P/E ratio of 15.41, a price-to-earnings-growth ratio of 1.18 and a beta of 1.06. The business has a 50-day simple moving average of $70.51 and a 200 day simple moving average of $77.42. 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 (NYSE:TXT - Get Free Report) last announced its quarterly earnings results on Wednesday, January 22nd. The aerospace company reported $1.34 earnings per share for the quarter, beating analysts' consensus estimates of $1.27 by $0.07. The business had revenue of $3.61 billion during the quarter, compared to analysts' expectations of $3.78 billion. Textron had a return on equity of 14.92% and a net margin of 6.01%. The business's revenue for the quarter was down 7.2% on a year-over-year basis. During the same quarter last year, the business posted $1.60 earnings per share. On average, sell-side analysts anticipate that Textron Inc. will post 6.12 earnings per share for the current year.

Textron Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be paid a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.12%. Textron's payout ratio is 1.86%.

Analyst Upgrades and Downgrades

TXT has been the subject of several research analyst reports. Vertical Research raised Textron from a "hold" rating to a "buy" rating and set a $91.00 price objective for the company in a report on Monday, January 6th. JPMorgan Chase & Co. decreased their price objective on Textron from $90.00 to $88.00 and set a "neutral" rating for the company in a report on Thursday, January 16th. Robert W. Baird decreased their price objective on Textron from $100.00 to $92.00 and set an "outperform" rating for the company in a report on Thursday, January 23rd. Bank of America downgraded Textron from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $110.00 to $85.00 in a report on Friday, January 24th. Finally, Susquehanna decreased their price target on Textron from $100.00 to $90.00 and set a "positive" rating for the company in a report on Wednesday, January 8th. One research 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. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $89.30.

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.