Mark S. Bamford Sells 5,451 Shares of Textron Inc. (NYSE:TXT) Stock

Textron Inc. (NYSE:TXT - Get Free Report) 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 transaction of $396,178.68. Following the transaction, the vice president now directly owns 18,223 shares of the company's stock, valued at $1,324,447.64. The trade was a 23.03 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Textron Stock Performance

Shares of NYSE:TXT traded up $1.51 on Friday, reaching $74.76. 1,458,474 shares of the company's stock were exchanged, compared to its average volume of 1,324,279. 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 $71.67 and a fifty-two week high of $97.33. The business's 50-day moving average is $75.73 and its two-hundred day moving average is $82.26. The firm has a market capitalization of $13.65 billion, a price-to-earnings ratio of 17.34, a PEG ratio of 1.18 and a beta of 1.27.

Textron (NYSE:TXT - Get Free Report) last announced its earnings results on Wednesday, January 22nd. The aerospace company reported $1.34 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.27 by $0.07. The firm had revenue of $3.61 billion during the quarter, compared to analyst estimates of $3.78 billion. Textron had a net margin of 6.01% and a return on equity of 14.92%. Textron's revenue was down 7.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.60 EPS. As a group, equities research analysts forecast that Textron Inc. will post 6.12 EPS for the current year.

Textron Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.11%. The ex-dividend date of this dividend is Friday, March 14th. Textron's dividend payout ratio is presently 1.86%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Vertical Research upgraded shares of Textron from a "hold" rating to a "buy" rating and set a $91.00 price objective on the stock in a report on Monday, January 6th. JPMorgan Chase & Co. decreased their price objective on shares of Textron from $90.00 to $88.00 and set a "neutral" rating on the stock in a report on Thursday, January 16th. TD Cowen upgraded shares of Textron to a "hold" rating in a research report on Monday, February 24th. Bank of America lowered shares of Textron from a "buy" rating to a "neutral" rating and cut their price objective for the company from $110.00 to $85.00 in a research report on Friday, January 24th. Finally, Barclays decreased their price objective on shares of Textron from $104.00 to $95.00 and set an "overweight" rating for the company in a research note on Monday, December 23rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $93.45.

Institutional Trading of Textron

Hedge funds have recently bought and sold shares of the company. Merit Financial Group LLC lifted its stake in Textron by 5.9% during the fourth quarter. Merit Financial Group LLC now owns 4,784 shares of the aerospace company's stock valued at $366,000 after buying an additional 265 shares in the last quarter. Empowered Funds LLC lifted its position in shares of Textron by 28.6% in the fourth quarter. Empowered Funds LLC now owns 20,132 shares of the aerospace company's stock worth $1,540,000 after purchasing an additional 4,480 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of Textron by 10.3% in the third quarter. Franklin Resources Inc. now owns 164,029 shares of the aerospace company's stock worth $14,505,000 after purchasing an additional 15,294 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Textron by 44.6% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,390 shares of the aerospace company's stock worth $1,343,000 after purchasing an additional 5,367 shares in the last quarter. Finally, Todd Asset Management LLC lifted its position in shares of Textron by 1.8% in the fourth quarter. Todd Asset Management LLC now owns 470,292 shares of the aerospace company's stock worth $35,973,000 after purchasing an additional 8,198 shares in the last quarter. 86.03% of the stock is owned by hedge funds and other institutional investors.

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.