Textron Inc. (NYSE:TXT) Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. lowered its holdings in Textron Inc. (NYSE:TXT - Free Report) by 0.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 21,500,776 shares of the aerospace company's stock after selling 80,220 shares during the quarter. Vanguard Group Inc. owned 11.59% of Textron worth $1,644,594,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the stock. Boston Partners increased its holdings in shares of Textron by 4.7% in the 4th quarter. Boston Partners now owns 7,483,692 shares of the aerospace company's stock valued at $572,465,000 after purchasing an additional 333,127 shares in the last quarter. Brandes Investment Partners LP increased its holdings in Textron by 19.4% in the fourth quarter. Brandes Investment Partners LP now owns 1,859,703 shares of the aerospace company's stock valued at $142,249,000 after buying an additional 302,712 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Textron by 0.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,678,854 shares of the aerospace company's stock valued at $128,416,000 after acquiring an additional 7,610 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Textron by 7.9% during the 4th quarter. Bank of New York Mellon Corp now owns 1,428,377 shares of the aerospace company's stock worth $109,257,000 after acquiring an additional 104,982 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Textron in the 4th quarter worth approximately $41,451,000. 86.03% of the stock is currently owned by hedge funds and other institutional investors.

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Insider Activity at Textron

In other Textron news, VP Mark S. Bamford sold 5,451 shares of the company's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $72.68, for a total value 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 $1,324,447.64. This represents a 23.03 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 1.70% of the company's stock.

Textron Trading Down 0.1 %

Shares of Textron stock traded down $0.11 during trading hours on Tuesday, hitting $72.15. The company's stock had a trading volume of 1,219,582 shares, compared to its average volume of 1,156,568. The company has a quick ratio of 0.84, a current ratio of 1.76 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $13.10 billion, a PE ratio of 16.74, a P/E/G ratio of 1.18 and a beta of 1.27. The business has a fifty day moving average of $74.17 and a 200 day moving average of $79.96. Textron Inc. has a 1-year low of $70.14 and a 1-year high of $97.34.

Textron (NYSE:TXT - Get Free Report) last posted 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 business had revenue of $3.61 billion during the quarter, compared to analyst estimates of $3.78 billion. Textron had a return on equity of 14.92% and a net margin of 6.01%. The company's revenue for the quarter was down 7.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.60 earnings per share. As a group, equities analysts forecast that Textron Inc. will post 6.12 EPS for the current year.

Textron Dividend Announcement

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

Wall Street Analysts Forecast Growth

TXT has been the subject of several research reports. Barclays reduced their price objective on Textron from $104.00 to $95.00 and set an "overweight" rating for the company in a report on Monday, December 23rd. Vertical Research raised shares of Textron from a "hold" rating to a "buy" rating and set a $91.00 price target on the stock in a report on Monday, January 6th. JPMorgan Chase & Co. cut their price target on Textron from $90.00 to $88.00 and set a "neutral" rating for the company in a report on Thursday, January 16th. TD Cowen upgraded Textron to a "hold" rating in a research report on Monday, February 24th. Finally, Susquehanna cut their price objective on shares of Textron from $100.00 to $90.00 and set a "positive" rating for the company in a research report on Wednesday, January 8th. One research 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 data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $93.45.

About Textron

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.