Cerity Partners LLC Reduces Position in Textron Inc. (NYSE:TXT)

Cerity Partners LLC lowered its position in Textron Inc. (NYSE:TXT - Free Report) by 30.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 19,607 shares of the aerospace company's stock after selling 8,564 shares during the period. Cerity Partners LLC's holdings in Textron were worth $1,647,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Raymond James Financial Inc. acquired a new position in Textron in the fourth quarter valued at approximately $41,451,000. Boston Partners lifted its position in shares of Textron by 4.7% in the fourth quarter. Boston Partners now owns 7,483,692 shares of the aerospace company's stock valued at $572,465,000 after acquiring an additional 333,127 shares in the last quarter. Brandes Investment Partners LP boosted its stake in shares of Textron by 19.4% in the fourth quarter. Brandes Investment Partners LP now owns 1,859,703 shares of the aerospace company's stock worth $142,249,000 after acquiring an additional 302,712 shares during the last quarter. Wellington Management Group LLP raised its stake in Textron by 50.2% in the 4th quarter. Wellington Management Group LLP now owns 603,171 shares of the aerospace company's stock valued at $46,137,000 after purchasing an additional 201,696 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in Textron by 3.7% during the 4th quarter. Geode Capital Management LLC now owns 4,595,861 shares of the aerospace company's stock worth $350,619,000 after purchasing an additional 164,964 shares during the last quarter. Institutional investors and hedge funds own 86.03% of the company's stock.

Insider Buying and Selling at Textron

In other news, VP Mark S. Bamford sold 5,451 shares of the company's 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 transaction, the vice president now directly owns 18,223 shares of the company's stock, valued at $1,324,447.64. This represents a 23.03 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.70% of the stock is owned by corporate insiders.

Textron Stock Up 1.6 %

TXT stock traded up $1.02 during trading on Friday, hitting $66.00. 1,563,028 shares of the company's stock were exchanged, compared to its average volume of 1,189,109. Textron Inc. has a 52-week low of $57.70 and a 52-week high of $95.86. The stock has a market capitalization of $11.99 billion, a price-to-earnings ratio of 15.31, 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. The business has a 50-day moving average price of $70.82 and a two-hundred day moving average price of $77.71.

Textron (NYSE:TXT - Get Free Report) last issued its quarterly earnings results on Wednesday, January 22nd. The aerospace company reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.07. The firm had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.78 billion. Textron had a return on equity of 14.92% and a net margin of 6.01%. The company's revenue for the quarter was down 7.2% on a year-over-year basis. During the same period last year, the company earned $1.60 earnings per share. As a group, equities research analysts expect that Textron Inc. will post 6.12 EPS for the current year.

Textron Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors 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 dividend on an annualized basis and a yield of 0.12%. Textron's payout ratio is currently 1.86%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on TXT. Morgan Stanley lowered their price target on Textron from $82.00 to $71.00 and set an "equal weight" rating for the company in a report on Friday, April 11th. Susquehanna cut their target price on shares of Textron from $100.00 to $90.00 and set a "positive" rating on the stock in a research note on Wednesday, January 8th. TD Cowen upgraded shares of Textron to a "hold" rating in a research note on Monday, February 24th. Vertical Research upgraded Textron from a "hold" rating to a "buy" rating and set a $91.00 target price for the company in a report on Monday, January 6th. Finally, JPMorgan Chase & Co. cut their price target on Textron from $90.00 to $88.00 and set a "neutral" rating on the stock in a report on Thursday, January 16th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $89.30.

Textron 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.