Textron Inc. (NYSE:TXT) Shares Sold by Prudential Financial Inc.

Prudential Financial Inc. decreased its stake in shares of Textron Inc. (NYSE:TXT - Free Report) by 12.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 110,233 shares of the aerospace company's stock after selling 15,019 shares during the period. Prudential Financial Inc. owned 0.06% of Textron worth $8,432,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in TXT. Merit Financial Group LLC increased its position in Textron by 5.9% during the 4th quarter. Merit Financial Group LLC now owns 4,784 shares of the aerospace company's stock worth $366,000 after purchasing an additional 265 shares in the last quarter. Empowered Funds LLC grew its holdings in shares of Textron by 28.6% during the fourth quarter. Empowered Funds LLC now owns 20,132 shares of the aerospace company's stock worth $1,540,000 after buying an additional 4,480 shares in the last quarter. Franklin Resources Inc. raised its position in shares of Textron by 10.3% in the third quarter. Franklin Resources Inc. now owns 164,029 shares of the aerospace company's stock valued at $14,505,000 after buying an additional 15,294 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Textron by 44.6% during the fourth 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 position in Textron by 1.8% during the fourth quarter. Todd Asset Management LLC now owns 470,292 shares of the aerospace company's stock worth $35,973,000 after acquiring an additional 8,198 shares during the last quarter. 86.03% of the stock is owned by institutional investors and hedge funds.

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Textron Stock Down 7.7 %

Shares of NYSE:TXT traded down $5.60 during midday trading on Thursday, hitting $66.88. 1,976,875 shares of the company's stock traded hands, compared to its average volume of 1,160,986. The firm's fifty day moving average price is $73.83 and its two-hundred day moving average price is $79.81. 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 $66.83 and a twelve month high of $97.34. The company has a market cap of $12.15 billion, a PE ratio of 15.52, a P/E/G ratio of 1.18 and a beta of 1.27.

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

Textron Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were given a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.12%. The ex-dividend date was Friday, March 14th. Textron's dividend payout ratio (DPR) is 1.86%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on TXT shares. Citigroup reduced their price target on Textron from $118.00 to $111.00 and set a "buy" rating on the stock in a research note on Tuesday, January 21st. TD Cowen raised Textron to a "hold" rating in a research note on Monday, February 24th. Robert W. Baird lowered their price target on Textron from $100.00 to $92.00 and set an "outperform" rating for the company in a report on Thursday, January 23rd. Morgan Stanley cut their price objective on shares of Textron from $86.00 to $82.00 and set an "equal weight" rating on the stock in a report on Thursday, January 23rd. Finally, JPMorgan Chase & Co. lowered their target price 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. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Textron has a consensus rating of "Moderate Buy" and an average target price of $93.45.

Insider Activity

In other 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. 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.

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.