Vinva Investment Management Ltd Sells 67,757 Shares of Textron Inc. (NYSE:TXT)

Vinva Investment Management Ltd reduced its stake in shares of Textron Inc. (NYSE:TXT - Free Report) by 93.5% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 4,689 shares of the aerospace company's stock after selling 67,757 shares during the period. Vinva Investment Management Ltd's holdings in Textron were worth $359,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Pflug Koory LLC raised its position in Textron by 0.9% in the 4th quarter. Pflug Koory LLC now owns 13,778 shares of the aerospace company's stock valued at $1,054,000 after buying an additional 125 shares during the last quarter. V Square Quantitative Management LLC raised its holdings in shares of Textron by 5.7% in the fourth quarter. V Square Quantitative Management LLC now owns 2,611 shares of the aerospace company's stock valued at $200,000 after purchasing an additional 141 shares during the last quarter. Patriot Financial Group Insurance Agency LLC lifted its position in shares of Textron by 5.8% during the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 2,977 shares of the aerospace company's stock valued at $228,000 after purchasing an additional 163 shares in the last quarter. Foundations Investment Advisors LLC boosted its holdings in Textron by 4.1% during the fourth quarter. Foundations Investment Advisors LLC now owns 4,272 shares of the aerospace company's stock worth $327,000 after purchasing an additional 169 shares during the last quarter. Finally, Uncommon Cents Investing LLC grew its position in Textron by 2.2% in the 4th quarter. Uncommon Cents Investing LLC now owns 7,985 shares of the aerospace company's stock worth $611,000 after purchasing an additional 175 shares in the last quarter. 86.03% of the stock is owned by hedge funds and other institutional investors.

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Insider Activity at Textron

In other news, VP Mark S. Bamford sold 5,451 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $72.68, for a total value of $396,178.68. Following the transaction, the vice president now 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.70% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on TXT. TD Cowen raised Textron to a "hold" rating in a report on Monday, February 24th. Bank of America cut Textron from a "buy" rating to a "neutral" rating and cut their price objective for the stock from $110.00 to $85.00 in a research report on Friday, January 24th. Vertical Research upgraded Textron from a "hold" rating to a "buy" rating and set a $91.00 target price on the stock in a research note on Monday, January 6th. 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 report on Monday, December 23rd. Finally, Robert W. Baird dropped their target price on shares of Textron from $100.00 to $92.00 and set an "outperform" rating on the stock in a research note on Thursday, January 23rd. 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 stock. Based on data from MarketBeat, Textron presently has an average rating of "Moderate Buy" and a consensus price target of $93.45.

Textron Stock Performance

Shares of Textron stock traded up $0.50 during trading hours on Wednesday, reaching $75.14. The company had a trading volume of 1,097,078 shares, compared to its average volume of 1,465,036. The firm has a market cap of $13.65 billion, a PE ratio of 17.43, a price-to-earnings-growth ratio of 1.18 and a beta of 1.27. Textron Inc. has a one year low of $70.14 and a one year high of $97.33. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.76 and a quick ratio of 0.84. The business has a fifty day simple moving average of $74.76 and a 200 day simple moving average of $80.43.

Textron (NYSE:TXT - Get Free Report) last issued its quarterly earnings data 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 net margin of 6.01% and a return on equity of 14.92%. The company had revenue of $3.61 billion during the quarter, compared to analysts' expectations of $3.78 billion. During the same quarter in the previous year, the company earned $1.60 earnings per share. Textron's revenue for the quarter was down 7.2% on a year-over-year basis. On average, analysts anticipate that Textron Inc. will post 6.12 earnings per share for the current fiscal year.

Textron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be given a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.11%. The ex-dividend date is Friday, March 14th. Textron's dividend payout ratio (DPR) is 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.