Victory Capital Management Inc. Lowers Stock Holdings in Textron Inc. (NYSE:TXT)

Victory Capital Management Inc. decreased its holdings in shares of Textron Inc. (NYSE:TXT - Free Report) by 13.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,844,843 shares of the aerospace company's stock after selling 731,480 shares during the period. Victory Capital Management Inc. owned approximately 2.61% of Textron worth $370,582,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. US Bancorp DE raised its position in Textron by 0.8% during the third quarter. US Bancorp DE now owns 25,256 shares of the aerospace company's stock valued at $2,237,000 after purchasing an additional 192 shares in the last quarter. Farther Finance Advisors LLC raised its position in Textron by 90.0% during the third quarter. Farther Finance Advisors LLC now owns 1,706 shares of the aerospace company's stock valued at $151,000 after purchasing an additional 808 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its position in Textron by 13.3% during the third quarter. Robeco Institutional Asset Management B.V. now owns 495,411 shares of the aerospace company's stock valued at $43,884,000 after purchasing an additional 57,967 shares in the last quarter. National Pension Service raised its position in Textron by 2.6% during the third quarter. National Pension Service now owns 368,481 shares of the aerospace company's stock valued at $32,640,000 after purchasing an additional 9,491 shares in the last quarter. Finally, QRG Capital Management Inc. raised its position in Textron by 5.0% during the third quarter. QRG Capital Management Inc. now owns 112,093 shares of the aerospace company's stock valued at $9,929,000 after purchasing an additional 5,300 shares in the last quarter. Institutional investors own 86.03% of the company's stock.

Analysts Set New Price Targets

A number of research firms have weighed in on TXT. Morgan Stanley lowered their price target on Textron from $86.00 to $82.00 and set an "equal weight" rating on the stock in a research report on Thursday, January 23rd. JPMorgan Chase & Co. decreased their price objective on Textron from $90.00 to $88.00 and set a "neutral" rating on the stock in a report on Thursday, January 16th. Robert W. Baird decreased their price objective on Textron from $100.00 to $92.00 and set an "outperform" rating on the stock in a report on Thursday, January 23rd. Susquehanna decreased their price objective on Textron from $100.00 to $90.00 and set a "positive" rating on the stock in a report on Wednesday, January 8th. Finally, Barclays decreased their price objective on Textron from $104.00 to $95.00 and set an "overweight" rating on the stock in a report on Monday, December 23rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $93.45.

Insider Transactions at Textron

In other news, VP Mark S. Bamford sold 5,451 shares of the business'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 sale, the vice president now directly owns 18,223 shares in the company, valued at $1,324,447.64. The trade was a 23.03 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.70% of the company's stock.

Textron Stock Up 3.2 %

NYSE TXT traded up $2.28 during mid-day trading on Wednesday, reaching $72.47. The stock had a trading volume of 1,881,618 shares, compared to its average volume of 1,360,245. Textron Inc. has a 1 year low of $70.14 and a 1 year high of $97.33. The stock has a market cap of $13.23 billion, a PE ratio of 16.81, a price-to-earnings-growth ratio of 1.18 and a beta of 1.27. The company has a fifty day moving average price of $75.54 and a 200 day moving average price of $82.04. 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 (NYSE:TXT - Get Free Report) last posted its quarterly earnings data 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 return on equity of 14.92% and a net margin of 6.01%. 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 firm earned $1.60 EPS. The business's quarterly revenue was down 7.2% on a year-over-year basis. On average, research analysts expect that Textron Inc. will post 6.12 earnings per share for the current year.

Textron Dividend Announcement

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

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.