Legal & General Group Plc reduced its position in Textron Inc. (NYSE:TXT - Free Report) by 24.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,075,690 shares of the aerospace company's stock after selling 351,169 shares during the period. Legal & General Group Plc owned approximately 0.58% of Textron worth $82,280,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. SBI Securities Co. Ltd. bought a new stake in shares of Textron during the fourth quarter worth about $31,000. Eastern Bank acquired a new position in Textron during the 4th quarter valued at about $42,000. Golden State Wealth Management LLC purchased a new stake in shares of Textron in the fourth quarter worth approximately $63,000. McClarren Financial Advisors Inc. bought a new position in shares of Textron in the fourth quarter valued at approximately $68,000. Finally, Geneos Wealth Management Inc. boosted its position in shares of Textron by 33.0% during the fourth quarter. Geneos Wealth Management Inc. now owns 964 shares of the aerospace company's stock valued at $74,000 after buying an additional 239 shares during the last quarter. Institutional investors own 86.03% of the company's stock.
Textron Price Performance
Textron stock traded up $0.29 during midday trading on Monday, reaching $65.97. 1,343,268 shares of the stock were exchanged, compared to its average volume of 1,186,150. Textron Inc. has a 52 week low of $57.70 and a 52 week high of $95.86. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.84 and a current ratio of 1.76. The firm has a market cap of $11.98 billion, a PE ratio of 15.31, a PEG ratio of 1.18 and a beta of 1.06. The company's fifty day moving average is $71.53 and its 200-day moving average is $78.26.
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 for the quarter, topping the consensus estimate of $1.27 by $0.07. Textron had a net margin of 6.01% and a return on equity of 14.92%. The firm had revenue of $3.61 billion for the quarter, compared to analysts' expectations of $3.78 billion. During the same quarter in the prior year, the firm posted $1.60 earnings per share. The business's quarterly revenue was down 7.2% on a year-over-year basis. On average, sell-side analysts forecast that Textron Inc. will post 6.12 EPS for the current year.
Textron Announces Dividend
The business 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. This represents a $0.08 annualized dividend and a dividend yield of 0.12%. The ex-dividend date was Friday, March 14th. Textron's dividend payout ratio (DPR) is 1.86%.
Analyst Ratings Changes
A number of equities analysts have issued reports on TXT shares. Susquehanna cut their price objective on shares of Textron from $100.00 to $90.00 and set a "positive" rating on the stock in a report on Wednesday, January 8th. Citigroup decreased their price objective on shares of Textron from $111.00 to $107.00 and set a "buy" rating for the company in a research note on Thursday. JPMorgan Chase & Co. reduced their target price on Textron from $90.00 to $88.00 and set a "neutral" rating for the company in a report on Thursday, January 16th. Morgan Stanley reduced their price objective on Textron from $82.00 to $71.00 and set an "equal weight" rating for the company in a research note on Friday. Finally, Robert W. Baird cut their price target on shares of Textron from $100.00 to $92.00 and set an "outperform" rating on the stock in a report on Thursday, January 23rd. One equities research 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 data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $92.09.
Check Out Our Latest Stock Analysis on Textron
Insider Activity at Textron
In related 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 value of $396,178.68. Following the completion of the transaction, the vice president now directly owns 18,223 shares in the company, valued at approximately $1,324,447.64. The trade was a 23.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.70% of the stock is currently owned by insiders.
About Textron
(
Free Report)
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.
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