National Pension Service Sells 9,703 Shares of Textron Inc. (NYSE:TXT)

National Pension Service lessened its position in Textron Inc. (NYSE:TXT - Free Report) by 2.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 358,778 shares of the aerospace company's stock after selling 9,703 shares during the period. National Pension Service owned approximately 0.19% of Textron worth $27,443,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of TXT. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Textron by 31.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,023 shares of the aerospace company's stock valued at $1,055,000 after buying an additional 2,867 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Textron by 37.9% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 24,620 shares of the aerospace company's stock valued at $2,181,000 after buying an additional 6,766 shares during the period. abrdn plc boosted its holdings in shares of Textron by 2.9% in the third quarter. abrdn plc now owns 73,417 shares of the aerospace company's stock valued at $6,431,000 after buying an additional 2,075 shares during the period. US Bancorp DE boosted its holdings in shares of Textron by 0.8% in the third quarter. US Bancorp DE now owns 25,256 shares of the aerospace company's stock valued at $2,237,000 after buying an additional 192 shares during the period. Finally, Farther Finance Advisors LLC boosted its holdings in shares of Textron by 90.0% in the third quarter. Farther Finance Advisors LLC now owns 1,706 shares of the aerospace company's stock valued at $151,000 after buying an additional 808 shares during the period. Institutional investors own 86.03% of the company's stock.

Insider Activity

In other 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 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.70% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on TXT shares. Susquehanna reduced their price target on shares of Textron from $100.00 to $90.00 and set a "positive" rating for the company in a report on Wednesday, January 8th. JPMorgan Chase & Co. reduced their price target on shares of Textron from $90.00 to $88.00 and set a "neutral" rating for the company in a report on Thursday, January 16th. Barclays reduced their price target on shares of Textron from $104.00 to $95.00 and set an "overweight" rating for the company in a report on Monday, December 23rd. Bank of America cut shares of Textron from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $110.00 to $85.00 in a report on Friday, January 24th. Finally, Vertical Research upgraded shares of 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. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $93.45.

Textron Stock Performance

TXT stock traded up $2.28 during trading hours on Wednesday, reaching $72.47. The stock had a trading volume of 1,881,618 shares, compared to its average volume of 1,360,245. The stock has a market capitalization of $13.23 billion, a PE ratio of 16.81, a price-to-earnings-growth ratio of 1.18 and a beta of 1.27. 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 simple moving average of $75.54 and a 200 day simple moving average of $82.04. Textron Inc. has a fifty-two week low of $70.14 and a fifty-two week high of $97.33.

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

Textron Dividend Announcement

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

Textron Company 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.