Dynamic Technology Lab Private Ltd Sells 8,765 Shares of Textron Inc. (NYSE:TXT)

Dynamic Technology Lab Private Ltd lowered its position in Textron Inc. (NYSE:TXT - Free Report) by 54.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,329 shares of the aerospace company's stock after selling 8,765 shares during the quarter. Dynamic Technology Lab Private Ltd's holdings in Textron were worth $561,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Resona Asset Management Co. Ltd. bought a new stake in Textron in the 4th quarter valued at $4,129,000. Motley Fool Asset Management LLC increased its stake in Textron by 6.3% in the fourth quarter. Motley Fool Asset Management LLC now owns 2,732 shares of the aerospace company's stock valued at $209,000 after acquiring an additional 163 shares during the period. World Investment Advisors raised its position in Textron by 23.0% in the fourth quarter. World Investment Advisors now owns 5,387 shares of the aerospace company's stock worth $412,000 after purchasing an additional 1,006 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Textron by 12.3% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 89,780 shares of the aerospace company's stock worth $6,867,000 after purchasing an additional 9,807 shares during the period. Finally, Groupama Asset Managment boosted its holdings in Textron by 37.0% during the fourth quarter. Groupama Asset Managment now owns 11,469 shares of the aerospace company's stock valued at $878,000 after purchasing an additional 3,097 shares in the last quarter. 86.03% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on TXT. Morgan Stanley cut their target price on Textron from $82.00 to $71.00 and set an "equal weight" rating for the company in a research report on Friday. JPMorgan Chase & Co. dropped their target price on shares of Textron from $90.00 to $88.00 and set a "neutral" rating for the company in a research note on Thursday, January 16th. 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. Robert W. Baird lowered their target price on shares of Textron from $100.00 to $92.00 and set an "outperform" rating for the company in a report on Thursday, January 23rd. Finally, Citigroup lowered their price target on Textron from $111.00 to $107.00 and set a "buy" rating for the company in a research note on Thursday. One analyst has rated the stock with a sell rating, four have given 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 an average target price of $92.09.

Textron Stock Up 1.7 %

Shares of Textron stock traded up $1.12 on Friday, hitting $65.64. The company had a trading volume of 1,258,954 shares, compared to its average volume of 1,185,521. Textron Inc. has a twelve month low of $57.70 and a twelve month high of $95.86. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.76 and a quick ratio of 0.84. The stock has a 50-day moving average of $71.70 and a 200-day moving average of $78.41. The firm has a market capitalization of $11.92 billion, a P/E ratio of 15.23, a P/E/G ratio of 1.18 and a beta of 1.06.

Textron (NYSE:TXT - Get Free Report) last released its quarterly earnings results on Wednesday, January 22nd. The aerospace company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.07. The firm had revenue of $3.61 billion for 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 quarter last year, the business posted $1.60 EPS. Research analysts predict that Textron Inc. will post 6.12 earnings per share for the current year.

Textron Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were paid a dividend of $0.02 per share. The ex-dividend date was Friday, March 14th. This represents a $0.08 annualized dividend and a dividend yield of 0.12%. Textron's dividend payout ratio is currently 1.86%.

Insider Activity

In related news, VP Mark S. Bamford sold 5,451 shares of the firm's stock in a transaction on 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. This trade represents a 23.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.70% of the stock is owned by corporate insiders.

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.