Textron Inc. (NYSE:TXT) Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. decreased its stake in Textron Inc. (NYSE:TXT - Free Report) by 1.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 390,405 shares of the aerospace company's stock after selling 6,412 shares during the period. Russell Investments Group Ltd. owned approximately 0.21% of Textron worth $29,862,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Resona Asset Management Co. Ltd. acquired a new stake in Textron during the 4th quarter valued at $4,129,000. Motley Fool Asset Management LLC grew its stake in shares of Textron by 6.3% during the fourth quarter. Motley Fool Asset Management LLC now owns 2,732 shares of the aerospace company's stock valued at $209,000 after acquiring an additional 163 shares in the last quarter. World Investment Advisors grew its stake in shares of Textron by 23.0% during the fourth quarter. World Investment Advisors now owns 5,387 shares of the aerospace company's stock valued at $412,000 after acquiring an additional 1,006 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Textron by 12.3% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 89,780 shares of the aerospace company's stock worth $6,867,000 after acquiring an additional 9,807 shares in the last quarter. Finally, Groupama Asset Managment boosted its holdings in Textron by 37.0% in the fourth quarter. Groupama Asset Managment now owns 11,469 shares of the aerospace company's stock valued at $878,000 after purchasing an additional 3,097 shares during the last quarter. 86.03% of the stock is currently owned by hedge funds and other institutional investors.

Remove Ads

Analysts Set New Price Targets

Several equities research analysts have issued reports on TXT shares. Morgan Stanley dropped their price objective on Textron from $82.00 to $71.00 and set an "equal weight" rating on the stock in a report on Friday. JPMorgan Chase & Co. dropped their price target on shares of Textron from $90.00 to $88.00 and set a "neutral" rating for the company in a research note on Thursday, January 16th. Bank of America downgraded shares of Textron from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $110.00 to $85.00 in a research note on Friday, January 24th. Barclays dropped their target price 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. Finally, Citigroup reduced their price target on shares of Textron from $111.00 to $107.00 and set a "buy" rating on the stock in a research report on Thursday. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $92.09.

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 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.70% of the company's stock.

Textron Stock Performance

Shares of NYSE:TXT traded up $0.25 during trading on Monday, hitting $65.93. 251,431 shares of the company traded hands, compared to its average volume of 1,491,904. The stock has a market capitalization of $11.97 billion, a price-to-earnings ratio of 15.30, a PEG ratio of 1.18 and a beta of 1.06. The business's fifty day moving average is $71.70 and its 200-day moving average is $78.41. 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 one year low of $57.70 and a one year high of $95.86.

Textron (NYSE:TXT - Get Free Report) last announced its quarterly earnings results on Wednesday, January 22nd. The aerospace company reported $1.34 earnings per share (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 company had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.78 billion. During the same quarter in the previous year, the company posted $1.60 earnings per share. The company's revenue for the quarter was down 7.2% compared to the same quarter last year. As a group, equities analysts predict that Textron Inc. will post 6.12 earnings per share for the current fiscal year.

Textron Announces Dividend

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

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.