FMR LLC lowered its holdings in shares of Textron Inc. (NYSE:TXT - Free Report) by 5.4% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 2,025,507 shares of the aerospace company's stock after selling 115,065 shares during the period. FMR LLC owned about 1.09% of Textron worth $154,931,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of the business. SBI Securities Co. Ltd. bought a new position in Textron during the 4th quarter worth approximately $31,000. Eastern Bank bought a new position in Textron during the fourth quarter worth $42,000. Golden State Wealth Management LLC acquired a new position in Textron in the fourth quarter valued at $63,000. McClarren Financial Advisors Inc. bought a new stake in Textron during the fourth quarter valued at $68,000. Finally, Geneos Wealth Management Inc. grew its holdings in Textron by 33.0% during the 4th quarter. Geneos Wealth Management Inc. now owns 964 shares of the aerospace company's stock worth $74,000 after acquiring an additional 239 shares during the period. Institutional investors and hedge funds own 86.03% of the company's stock.
Wall Street Analysts Forecast Growth
Several analysts have recently commented on the company. Robert W. Baird reduced their target price on Textron from $100.00 to $92.00 and set an "outperform" rating for the company in a research note on Thursday, January 23rd. Susquehanna dropped their price objective on shares of Textron from $100.00 to $90.00 and set a "positive" rating on the stock in a research note on Wednesday, January 8th. TD Cowen raised shares of Textron to a "hold" rating in a research report on Monday, February 24th. Morgan Stanley dropped their price target 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, April 11th. Finally, Citigroup lowered their price objective on Textron from $111.00 to $107.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Textron currently has a consensus rating of "Hold" and a consensus target price of $89.30.
View Our Latest Stock Analysis on TXT
Textron Stock Performance
Shares of NYSE TXT traded up $1.02 during mid-day trading on Friday, reaching $66.00. 1,563,028 shares of the company's stock were exchanged, compared to its average volume of 1,187,931. The firm has a market capitalization of $11.99 billion, a price-to-earnings ratio of 15.31, a price-to-earnings-growth ratio of 1.18 and a beta of 1.06. The firm has a 50-day moving average price of $70.98 and a two-hundred day moving average price of $77.93. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.76 and a quick ratio of 0.84. Textron Inc. has a 52 week low of $57.70 and a 52 week high of $95.86.
Textron (NYSE:TXT - Get Free Report) last released its earnings results on Wednesday, January 22nd. The aerospace company reported $1.34 earnings per share for the quarter, beating analysts' consensus estimates of $1.27 by $0.07. Textron had a net margin of 6.01% and a return on equity of 14.92%. The firm had revenue of $3.61 billion for the quarter, compared to analysts' expectations of $3.78 billion. During the same period in the previous year, the company earned $1.60 earnings per share. The company's quarterly revenue was down 7.2% on a year-over-year basis. Analysts predict that Textron Inc. will post 6.12 EPS for the current year.
Textron Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were given a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.12%. The ex-dividend date of this dividend was Friday, March 14th. Textron's dividend payout ratio is currently 1.86%.
Insider Activity
In related news, VP Mark S. Bamford sold 5,451 shares of Textron 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 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 trade represents a 23.03 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.70% of the company's stock.
Textron Profile
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Free Report)
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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