Sei Investments Co. Sells 50,610 Shares of Textron Inc. (NYSE:TXT)

Sei Investments Co. trimmed its stake in Textron Inc. (NYSE:TXT - Free Report) by 42.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 70,028 shares of the aerospace company's stock after selling 50,610 shares during the quarter. Sei Investments Co.'s holdings in Textron were worth $5,356,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TXT. Pflug Koory LLC grew its holdings in Textron by 0.9% during the fourth quarter. Pflug Koory LLC now owns 13,778 shares of the aerospace company's stock valued at $1,054,000 after purchasing an additional 125 shares during the last quarter. V Square Quantitative Management LLC lifted its position in Textron by 5.7% during the 4th quarter. V Square Quantitative Management LLC now owns 2,611 shares of the aerospace company's stock worth $200,000 after acquiring an additional 141 shares during the last quarter. Patriot Financial Group Insurance Agency LLC lifted its position in Textron by 5.8% during the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 2,977 shares of the aerospace company's stock worth $228,000 after acquiring an additional 163 shares during the last quarter. Foundations Investment Advisors LLC grew its position in shares of Textron by 4.1% in the fourth quarter. Foundations Investment Advisors LLC now owns 4,272 shares of the aerospace company's stock valued at $327,000 after purchasing an additional 169 shares during the last quarter. Finally, Uncommon Cents Investing LLC grew its position in shares of Textron by 2.2% in the fourth quarter. Uncommon Cents Investing LLC now owns 7,985 shares of the aerospace company's stock valued at $611,000 after purchasing an additional 175 shares during the last quarter. 86.03% of the stock is owned by hedge funds and other institutional investors.

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Textron Trading Down 7.7 %

Shares of TXT stock traded down $5.60 on Thursday, hitting $66.88. The stock had a trading volume of 1,976,875 shares, compared to its average volume of 1,160,986. The company has a current ratio of 1.76, a quick ratio of 0.84 and a debt-to-equity ratio of 0.45. Textron Inc. has a twelve month low of $65.97 and a twelve month high of $97.34. The company has a fifty day moving average price of $73.83 and a two-hundred day moving average price of $79.81. The firm has a market cap of $12.15 billion, a P/E ratio of 15.52, a PEG ratio of 1.18 and a beta of 1.27.

Textron (NYSE:TXT - Get Free Report) last posted its quarterly earnings data on Wednesday, January 22nd. The aerospace company reported $1.34 EPS for the quarter, beating 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 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 firm posted $1.60 EPS. The firm's revenue was down 7.2% compared to the same quarter last year. As a group, analysts forecast that Textron Inc. will post 6.12 earnings per share for the current fiscal year.

Textron Announces Dividend

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

Wall Street Analyst Weigh In

A number of research analysts have recently commented on TXT shares. Vertical Research upgraded Textron from a "hold" rating to a "buy" rating and set a $91.00 price target for the company in a report on Monday, January 6th. Barclays dropped their price objective on shares of Textron from $104.00 to $95.00 and set an "overweight" rating on the stock in a report on Monday, December 23rd. TD Cowen upgraded Textron to a "hold" rating in a research report on Monday, February 24th. Citigroup decreased their price objective on Textron from $118.00 to $111.00 and set a "buy" rating on the stock in a report on Tuesday, January 21st. Finally, Morgan Stanley reduced their price objective on Textron from $86.00 to $82.00 and set an "equal weight" rating on the stock in a research note on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat, Textron presently has an average rating of "Moderate Buy" and a consensus price target of $93.45.

Insider Activity at Textron

In related news, VP Mark S. Bamford sold 5,451 shares of the firm's 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 completion of the sale, the vice president now directly owns 18,223 shares in the company, valued at approximately $1,324,447.64. This trade represents a 23.03 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.70% of the stock is owned by company 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.