Textron Inc. (NYSE:TXT) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. decreased its position in Textron Inc. (NYSE:TXT - Free Report) by 0.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,877,256 shares of the aerospace company's stock after selling 46,372 shares during the quarter. JPMorgan Chase & Co. owned 3.17% of Textron worth $449,551,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new stake in Textron during the fourth quarter worth approximately $41,451,000. Boston Partners raised its holdings in Textron by 4.7% during the fourth quarter. Boston Partners now owns 7,483,692 shares of the aerospace company's stock worth $572,465,000 after purchasing an additional 333,127 shares in the last quarter. Brandes Investment Partners LP boosted its holdings in shares of Textron by 19.4% in the 4th quarter. Brandes Investment Partners LP now owns 1,859,703 shares of the aerospace company's stock valued at $142,249,000 after buying an additional 302,712 shares in the last quarter. International Assets Investment Management LLC purchased a new position in shares of Textron in the 4th quarter valued at $11,523,000. Finally, Wealthfront Advisers LLC grew its position in shares of Textron by 384.7% in the 4th quarter. Wealthfront Advisers LLC now owns 175,347 shares of the aerospace company's stock valued at $13,412,000 after buying an additional 139,173 shares during the last quarter. Hedge funds and other institutional investors own 86.03% of the company's stock.

Wall Street Analysts Forecast Growth

TXT has been the subject of several research analyst reports. TD Cowen upgraded shares of Textron to a "hold" rating in a research note on Monday, February 24th. 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 note on Thursday, January 23rd. Barclays reduced their price target on shares of Textron from $104.00 to $95.00 and set an "overweight" rating for the company in a research report on Monday, December 23rd. 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 research note on Thursday, January 23rd. Finally, Susquehanna reduced their price target on shares of Textron from $100.00 to $90.00 and set a "positive" rating for the company in a research report on Wednesday, January 8th. One research 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. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $93.45.

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Insider Activity

In other Textron news, VP Mark S. Bamford sold 5,451 shares of the firm's stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $72.68, for a total value of $396,178.68. Following the sale, the vice president now directly owns 18,223 shares of the company's stock, valued at approximately $1,324,447.64. This trade represents a 23.03 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.70% of the company's stock.

Textron Price Performance

Textron stock traded down $0.11 during midday trading on Tuesday, reaching $72.15. 1,219,582 shares of the company were exchanged, compared to its average volume of 1,155,105. The firm's 50-day simple moving average is $74.35 and its 200-day simple moving average is $80.07. Textron Inc. has a 1 year low of $70.14 and a 1 year high of $97.34. The company has a market capitalization of $13.10 billion, a price-to-earnings ratio of 16.74, a P/E/G ratio of 1.18 and a beta of 1.27. 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 (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 analysts' consensus estimates of $1.27 by $0.07. The business had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.78 billion. Textron had a net margin of 6.01% and a return on equity of 14.92%. The company's quarterly revenue was down 7.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.60 earnings per share. On average, analysts anticipate that Textron Inc. will post 6.12 EPS for the current year.

Textron Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued 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 is Friday, March 14th. Textron's dividend payout ratio (DPR) is 1.86%.

Textron Company 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.