Commonwealth Equity Services LLC Trims Stake in Textron Inc. (NYSE:TXT)

Commonwealth Equity Services LLC trimmed its position in Textron Inc. (NYSE:TXT - Free Report) by 8.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 37,358 shares of the aerospace company's stock after selling 3,601 shares during the quarter. Commonwealth Equity Services LLC's holdings in Textron were worth $2,858,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in TXT. Merit Financial Group LLC grew its position in Textron by 5.9% in 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 shares of Textron by 28.6% during the 4th quarter. Empowered Funds LLC now owns 20,132 shares of the aerospace company's stock worth $1,540,000 after purchasing an additional 4,480 shares during the period. Franklin Resources Inc. increased its position in shares of Textron by 10.3% during the 3rd quarter. Franklin Resources Inc. now owns 164,029 shares of the aerospace company's stock worth $14,505,000 after purchasing an additional 15,294 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in Textron by 44.6% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,390 shares of the aerospace company's stock valued at $1,343,000 after buying an additional 5,367 shares during the period. Finally, Todd Asset Management LLC boosted its holdings in Textron by 1.8% during the 4th quarter. Todd Asset Management LLC now owns 470,292 shares of the aerospace company's stock valued at $35,973,000 after acquiring an additional 8,198 shares during the period. Hedge funds and other institutional investors own 86.03% of the company's stock.

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Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on TXT shares. Morgan Stanley cut their target price on shares of Textron from $86.00 to $82.00 and set an "equal weight" rating on the stock in a research note on Thursday, January 23rd. Citigroup reduced their price objective on Textron from $118.00 to $111.00 and set a "buy" rating on the stock in a research note on Tuesday, January 21st. Barclays cut their price target on Textron from $104.00 to $95.00 and set an "overweight" rating on the stock in a research note on Monday, December 23rd. Vertical Research raised Textron from a "hold" rating to a "buy" rating and set a $91.00 price objective for the company in a research report on Monday, January 6th. Finally, Robert W. Baird decreased their target price on Textron from $100.00 to $92.00 and set an "outperform" rating for the company in a research note on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $93.45.

Textron Stock Performance

Shares of TXT traded down $2.36 during mid-day trading on Friday, hitting $72.92. 1,075,585 shares of the company's stock were exchanged, compared to its average volume of 1,153,198. 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 fifty-two week low of $70.14 and a fifty-two week high of $97.34. The business's 50 day moving average is $74.49 and its two-hundred day moving average is $80.21. The firm has a market capitalization of $13.24 billion, a P/E ratio of 16.92, a P/E/G ratio of 1.18 and a beta of 1.27.

Textron (NYSE:TXT - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $3.61 billion for the quarter, compared to analyst estimates of $3.78 billion. Textron had a return on equity of 14.92% and a net margin of 6.01%. The firm's revenue for the quarter was down 7.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.60 EPS. On average, equities analysts expect that Textron Inc. will post 6.12 earnings per share for the current year.

Textron Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a dividend of $0.02 per share. The ex-dividend date is Friday, March 14th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.11%. Textron's dividend payout ratio (DPR) is presently 1.86%.

Insider Activity

In other Textron news, VP Mark S. Bamford sold 5,451 shares of the 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 directly owns 18,223 shares of the company's stock, valued at approximately $1,324,447.64. This trade represents a 23.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.70% of the company's stock.

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.