Textron Inc. (NYSE:TXT) Stock Holdings Decreased by Martingale Asset Management L P

Martingale Asset Management L P lessened its stake in shares of Textron Inc. (NYSE:TXT - Free Report) by 28.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 195,952 shares of the aerospace company's stock after selling 77,332 shares during the quarter. Martingale Asset Management L P owned about 0.11% of Textron worth $14,988,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Jacobs Levy Equity Management Inc. purchased a new stake in Textron during the 3rd quarter worth about $828,000. Integrated Wealth Concepts LLC grew its holdings in shares of Textron by 39.2% during the third quarter. Integrated Wealth Concepts LLC now owns 8,872 shares of the aerospace company's stock worth $786,000 after buying an additional 2,500 shares in the last quarter. Stifel Financial Corp raised its position in shares of Textron by 4.8% in the third quarter. Stifel Financial Corp now owns 148,776 shares of the aerospace company's stock valued at $13,179,000 after buying an additional 6,822 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of Textron by 18.0% during the third quarter. Wellington Management Group LLP now owns 401,475 shares of the aerospace company's stock valued at $35,563,000 after buying an additional 61,248 shares during the period. Finally, EP Wealth Advisors LLC purchased a new stake in Textron in the 3rd quarter worth approximately $1,479,000. Hedge funds and other institutional investors own 86.03% of the company's stock.

Textron Stock Up 0.0 %

Shares of TXT stock traded up $0.02 during trading hours on Monday, reaching $65.70. The company had a trading volume of 334,908 shares, compared to its average volume of 1,493,095. The company has a market capitalization of $11.93 billion, a P/E ratio of 15.24, a price-to-earnings-growth ratio of 1.18 and a beta of 1.06. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.84 and a current ratio of 1.76. Textron Inc. has a twelve month low of $57.70 and a twelve month high of $95.86. The stock's fifty day simple moving average is $71.70 and its 200 day simple moving average is $78.41.

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Textron (NYSE:TXT - Get Free Report) last posted its earnings results on Wednesday, January 22nd. The aerospace company reported $1.34 EPS for the quarter, topping analysts' consensus estimates of $1.27 by $0.07. Textron had a net margin of 6.01% and a return on equity of 14.92%. The business had revenue of $3.61 billion for the quarter, compared to analysts' expectations of $3.78 billion. During the same period in the previous year, the company posted $1.60 earnings per share. The business's revenue for the quarter was down 7.2% compared to the same quarter last year. As a group, sell-side analysts expect that Textron Inc. will post 6.12 earnings per share for the current fiscal year.

Textron Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research analysts have weighed in on TXT shares. Citigroup reduced their price target on Textron from $111.00 to $107.00 and set a "buy" rating on the stock in a research note on Thursday. Morgan Stanley cut their price target on shares of Textron from $82.00 to $71.00 and set an "equal weight" rating on the stock in a research note on Friday. Robert W. Baird lowered their price objective on shares of Textron from $100.00 to $92.00 and set an "outperform" rating for the company in a research note on Thursday, January 23rd. Susquehanna cut their target price on Textron from $100.00 to $90.00 and set a "positive" rating on the stock in a research report on Wednesday, January 8th. Finally, TD Cowen raised Textron to a "hold" rating in a research report on Monday, February 24th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $92.09.

Insider Buying and Selling

In other Textron news, VP Mark S. Bamford sold 5,451 shares of Textron stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $72.68, for a total transaction of $396,178.68. Following the sale, the vice president now directly owns 18,223 shares in the company, valued at $1,324,447.64. The trade was a 23.03 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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.