Textron Inc. (NYSE:TXT) Shares Sold by Great Lakes Advisors LLC

Great Lakes Advisors LLC cut its holdings in shares of Textron Inc. (NYSE:TXT - Free Report) by 21.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 840,929 shares of the aerospace company's stock after selling 235,499 shares during the period. Great Lakes Advisors LLC owned approximately 0.45% of Textron worth $64,323,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Empirical Finance LLC increased its stake in Textron by 1.7% in the 3rd quarter. Empirical Finance LLC now owns 7,047 shares of the aerospace company's stock valued at $624,000 after buying an additional 115 shares during the period. Apollon Wealth Management LLC grew its stake in Textron by 4.9% in the 3rd quarter. Apollon Wealth Management LLC now owns 2,655 shares of the aerospace company's stock valued at $235,000 after buying an additional 125 shares during the last quarter. Pflug Koory LLC boosted its holdings in Textron by 0.9% in the 4th 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 period. V Square Quantitative Management LLC boosted its holdings in Textron by 5.7% in the 4th quarter. V Square Quantitative Management LLC now owns 2,611 shares of the aerospace company's stock valued at $200,000 after purchasing an additional 141 shares during the period. Finally, Patriot Financial Group Insurance Agency LLC boosted its holdings in Textron by 5.8% in the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 2,977 shares of the aerospace company's stock valued at $228,000 after purchasing an additional 163 shares during the period. 86.03% of the stock is owned by institutional investors and hedge funds.

Textron Trading Down 2.3 %

TXT opened at $73.67 on Wednesday. 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 stock has a market capitalization of $13.38 billion, a PE ratio of 17.09, a PEG ratio of 1.18 and a beta of 1.26. Textron Inc. has a 1-year low of $70.14 and a 1-year high of $97.34. The firm has a 50-day moving average price of $75.25 and a two-hundred day moving average price of $81.52.

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

Textron Announces Dividend

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

Analyst Ratings Changes

A number of research firms have recently commented on TXT. Citigroup reduced their price objective on shares of Textron from $118.00 to $111.00 and set a "buy" rating for the company in a report on Tuesday, January 21st. Morgan Stanley reduced their price objective on shares of Textron from $86.00 to $82.00 and set an "equal weight" rating for the company in a report on Thursday, January 23rd. Susquehanna reduced their price objective 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. Robert W. Baird reduced their price objective on shares of Textron from $100.00 to $92.00 and set an "outperform" rating for the company in a report on Thursday, January 23rd. Finally, JPMorgan Chase & Co. reduced their price objective 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 assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $93.45.

Insider Transactions at Textron

In other news, VP Mark S. Bamford sold 5,451 shares of Textron stock in a transaction on Monday, February 24th. The shares were sold at an average price of $72.68, for a total transaction 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 trade represents a 23.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.70% of the stock is owned by corporate 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.

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