LSV Asset Management Sells 113,816 Shares of Textron Inc. (NYSE:TXT)

LSV Asset Management cut its stake in shares of Textron Inc. (NYSE:TXT - Free Report) by 2.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,973,150 shares of the aerospace company's stock after selling 113,816 shares during the quarter. LSV Asset Management owned approximately 2.14% of Textron worth $303,906,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Stifel Financial Corp raised its holdings in shares of Textron by 4.8% during the third quarter. Stifel Financial Corp now owns 148,776 shares of the aerospace company's stock valued at $13,179,000 after buying an additional 6,822 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Textron by 18.0% in the third quarter. Wellington Management Group LLP now owns 401,475 shares of the aerospace company's stock worth $35,563,000 after purchasing an additional 61,248 shares in the last quarter. iA Global Asset Management Inc. raised its stake in shares of Textron by 17.5% during the third quarter. iA Global Asset Management Inc. now owns 3,577 shares of the aerospace company's stock valued at $317,000 after purchasing an additional 534 shares in the last quarter. National Bank of Canada FI grew its position in Textron by 161.8% in the 3rd quarter. National Bank of Canada FI now owns 145,174 shares of the aerospace company's stock valued at $12,860,000 after buying an additional 89,724 shares in the last quarter. Finally, MML Investors Services LLC raised its position in shares of Textron by 18.4% during the 3rd quarter. MML Investors Services LLC now owns 26,505 shares of the aerospace company's stock worth $2,348,000 after buying an additional 4,110 shares in the last quarter. Institutional investors own 86.03% of the company's stock.

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Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Barclays decreased 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. Morgan Stanley lowered their target price on shares of Textron from $82.00 to $71.00 and set an "equal weight" rating on the stock in a research report on Friday. Robert W. Baird reduced their price target on Textron from $100.00 to $92.00 and set an "outperform" rating for the company in a research report on Thursday, January 23rd. Bank of America lowered Textron from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $110.00 to $85.00 in a report on Friday, January 24th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Textron from $90.00 to $88.00 and set a "neutral" rating on the stock in a research report on Thursday, January 16th. 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 company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $92.09.

Textron Stock Performance

NYSE TXT traded down $0.42 during midday trading on Tuesday, hitting $65.57. The company had a trading volume of 242,550 shares, compared to its average volume of 1,182,449. The firm has a fifty day simple moving average of $71.53 and a two-hundred day simple moving average of $78.26. The stock has a market cap of $11.91 billion, a price-to-earnings ratio of 15.21, a P/E/G ratio of 1.18 and a beta of 1.06. 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 fifty-two week low of $57.70 and a fifty-two week high of $95.86.

Textron (NYSE:TXT - Get Free Report) last posted its quarterly earnings results on Wednesday, January 22nd. The aerospace company reported $1.34 EPS for the quarter, beating the consensus estimate of $1.27 by $0.07. Textron had a return on equity of 14.92% and a net margin of 6.01%. The firm 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 firm posted $1.60 EPS. The company's revenue for the quarter was down 7.2% on a year-over-year basis. Equities analysts forecast that Textron Inc. will post 6.12 earnings per share for the current fiscal year.

Textron Dividend Announcement

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

Insider Buying and Selling

In other Textron news, VP Mark S. Bamford sold 5,451 shares of Textron 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 completion of the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.70% of the company's stock.

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.