Sovereign Investment Advisors LLC purchased a new stake in Textron Inc. (NYSE:TXT - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 4,925 shares of the aerospace company's stock, valued at approximately $377,000.
Other hedge funds have also added to or reduced their stakes in the company. True Wealth Design LLC bought a new position in Textron during the third quarter worth about $26,000. SBI Securities Co. Ltd. bought a new position in Textron during the fourth quarter worth about $31,000. Eastern Bank bought a new position in Textron during the fourth quarter worth about $42,000. Truvestments Capital LLC bought a new position in Textron during the third quarter worth about $43,000. Finally, Venturi Wealth Management LLC boosted its holdings in Textron by 69.5% during the third quarter. Venturi Wealth Management LLC now owns 566 shares of the aerospace company's stock worth $50,000 after buying an additional 232 shares during the last quarter. Institutional investors own 86.03% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities analysts have issued reports on the company. Robert W. Baird reduced their target price on Textron from $100.00 to $92.00 and set an "outperform" rating on the stock in a report on Thursday, January 23rd. Citigroup dropped their price target on Textron from $118.00 to $111.00 and set a "buy" rating on the stock in a research report on Tuesday, January 21st. TD Cowen raised Textron to a "hold" rating in a research report on Monday, February 24th. JPMorgan Chase & Co. dropped their price target on Textron from $90.00 to $88.00 and set a "neutral" rating on the stock in a research report on Thursday, January 16th. Finally, Morgan Stanley dropped their price target on Textron from $86.00 to $82.00 and set an "equal weight" rating on the stock in a research report on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat, Textron presently has an average rating of "Moderate Buy" and a consensus target price of $93.45.
Get Our Latest Research Report on TXT
Insider Transactions at Textron
In other 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 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.70% of the stock is currently owned by corporate insiders.
Textron Stock Performance
Shares of NYSE TXT traded down $0.95 during midday trading on Thursday, hitting $73.49. 2,659,528 shares of the company's stock were exchanged, compared to its average volume of 1,089,760. The company has a quick ratio of 0.84, a current ratio of 1.76 and a debt-to-equity ratio of 0.45. Textron Inc. has a 12 month low of $70.14 and a 12 month high of $97.34. The company's 50 day moving average price is $74.98 and its 200 day moving average price is $80.89. The firm has a market capitalization of $13.35 billion, a PE ratio of 17.05, a price-to-earnings-growth ratio of 1.18 and a beta of 1.27.
Textron (NYSE:TXT - Get Free Report) last issued its earnings results on Wednesday, January 22nd. The aerospace company reported $1.34 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $3.78 billion. During the same period in the previous year, the company posted $1.60 EPS. The firm's revenue for the quarter was down 7.2% compared to the same quarter last year. As a group, analysts predict that Textron Inc. will post 6.12 earnings per share for the current fiscal year.
Textron Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a dividend of $0.02 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.08 annualized dividend and a dividend yield of 0.11%. Textron's dividend payout ratio is currently 1.86%.
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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