Corient Private Wealth LLC Sells 19,085 Shares of Textron Inc. (NYSE:TXT)

Corient Private Wealth LLC reduced its position in Textron Inc. (NYSE:TXT - Free Report) by 35.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 34,941 shares of the aerospace company's stock after selling 19,085 shares during the quarter. Corient Private Wealth LLC's holdings in Textron were worth $2,673,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Pflug Koory LLC increased its stake in shares of 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 buying an additional 125 shares during the period. V Square Quantitative Management LLC increased its position in Textron by 5.7% in the fourth quarter. V Square Quantitative Management LLC now owns 2,611 shares of the aerospace company's stock worth $200,000 after purchasing an additional 141 shares during the period. Patriot Financial Group Insurance Agency LLC raised its holdings in Textron by 5.8% during the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 2,977 shares of the aerospace company's stock worth $228,000 after purchasing an additional 163 shares during the last quarter. Foundations Investment Advisors LLC lifted its position in Textron by 4.1% during the 4th quarter. Foundations Investment Advisors LLC now owns 4,272 shares of the aerospace company's stock valued at $327,000 after purchasing an additional 169 shares during the period. Finally, Uncommon Cents Investing LLC boosted its stake in shares of Textron by 2.2% in the 4th quarter. Uncommon Cents Investing LLC now owns 7,985 shares of the aerospace company's stock valued at $611,000 after purchasing an additional 175 shares during the last quarter. Institutional investors and hedge funds own 86.03% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Robert W. Baird dropped their price target 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. 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. Vertical Research upgraded Textron from a "hold" rating to a "buy" rating and set a $91.00 price target on the stock in a research report on Monday, January 6th. TD Cowen upgraded Textron to a "hold" rating in a report on Monday, February 24th. Finally, Bank of America lowered Textron from a "buy" rating to a "neutral" rating and cut their target price for the company from $110.00 to $85.00 in a research note on Friday, January 24th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $93.45.

Textron Stock Up 0.2 %

Shares of NYSE:TXT traded up $0.15 during mid-day trading on Thursday, reaching $75.32. 1,082,561 shares of the stock were exchanged, compared to its average volume of 1,107,760. The stock's 50 day simple moving average is $74.69 and its 200-day simple moving average is $80.39. Textron Inc. has a one year low of $70.14 and a one year high of $97.34. The company has a market cap of $13.68 billion, a P/E ratio of 17.48, a P/E/G ratio of 1.18 and a beta of 1.27. 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 (NYSE:TXT - Get Free Report) last announced 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 net margin of 6.01% and a return on equity of 14.92%. The business had revenue of $3.61 billion during the quarter, compared to analysts' expectations of $3.78 billion. During the same quarter in the prior year, the company posted $1.60 earnings per share. The firm's revenue was down 7.2% on a year-over-year basis. As a group, equities research analysts predict that Textron Inc. will post 6.12 EPS for the current year.

Textron Dividend Announcement

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

Insider Buying and Selling

In other news, VP Mark S. Bamford sold 5,451 shares of the stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $72.68, for a total value of $396,178.68. Following the completion of the sale, the vice president now owns 18,223 shares of the company's stock, valued at approximately $1,324,447.64. This represents a 23.03 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.70% of the stock is currently owned by corporate insiders.

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.