Swiss National Bank Sells 36,700 Shares of Textron Inc. (NYSE:TXT)

Swiss National Bank reduced its position in shares of Textron Inc. (NYSE:TXT - Free Report) by 6.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 529,289 shares of the aerospace company's stock after selling 36,700 shares during the quarter. Swiss National Bank owned about 0.29% of Textron worth $40,485,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Merit Financial Group LLC raised its holdings 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 during the last quarter. Empowered Funds LLC raised its holdings in Textron by 28.6% during the 4th quarter. Empowered Funds LLC now owns 20,132 shares of the aerospace company's stock worth $1,540,000 after purchasing an additional 4,480 shares during the last quarter. Franklin Resources Inc. raised its holdings in Textron by 10.3% during the 3rd quarter. Franklin Resources Inc. now owns 164,029 shares of the aerospace company's stock worth $14,505,000 after purchasing an additional 15,294 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Textron by 44.6% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,390 shares of the aerospace company's stock valued at $1,343,000 after acquiring an additional 5,367 shares during the last quarter. Finally, Todd Asset Management LLC increased its stake in shares of Textron by 1.8% in the 4th quarter. Todd Asset Management LLC now owns 470,292 shares of the aerospace company's stock valued at $35,973,000 after acquiring an additional 8,198 shares during the last quarter. 86.03% of the stock is owned by institutional investors.

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Textron Stock Down 1.3 %

Shares of Textron stock traded down $0.95 on Thursday, reaching $73.49. 2,659,364 shares of the company were exchanged, compared to its average volume of 1,089,759. Textron Inc. has a one year low of $70.14 and a one year high of $97.34. The company has a market capitalization of $13.35 billion, a price-to-earnings ratio of 17.05, a PEG ratio of 1.18 and a beta of 1.27. The company has a current ratio of 1.76, a quick ratio of 0.84 and a debt-to-equity ratio of 0.45. The company has a 50-day moving average of $74.98 and a 200 day moving average of $80.89.

Textron (NYSE:TXT - Get Free Report) last posted its quarterly earnings results on Wednesday, January 22nd. The aerospace company reported $1.34 earnings per share for the quarter, beating 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 business had revenue of $3.61 billion for the quarter, compared to analysts' expectations of $3.78 billion. During the same quarter in the prior year, the business earned $1.60 EPS. The firm's revenue for the quarter was down 7.2% on a year-over-year basis. On average, equities research analysts forecast that Textron Inc. will post 6.12 earnings per share for the current year.

Textron Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be paid a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.11%. The ex-dividend date is Friday, March 14th. Textron's dividend payout ratio (DPR) is presently 1.86%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on TXT. JPMorgan Chase & Co. lowered their price target on Textron from $90.00 to $88.00 and set a "neutral" rating for the company in a research note on Thursday, January 16th. Robert W. Baird decreased their price objective on Textron from $100.00 to $92.00 and set an "outperform" rating for the company in a research report on Thursday, January 23rd. Barclays decreased their price objective on Textron from $104.00 to $95.00 and set an "overweight" rating for the company in a research report on Monday, December 23rd. Morgan Stanley decreased their price objective on Textron from $86.00 to $82.00 and set an "equal weight" rating for the company in a research report on Thursday, January 23rd. Finally, Citigroup decreased their price objective on Textron from $118.00 to $111.00 and set a "buy" rating for the company in a research report on Tuesday, January 21st. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $93.45.

Insider Activity at Textron

In other Textron news, VP Mark S. Bamford sold 5,451 shares of the stock in a transaction 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 transaction, the vice president now owns 18,223 shares in the company, valued at $1,324,447.64. This trade represents a 23.03 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.70% of the stock is owned by company insiders.

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.