Vanguard Group Inc. Trims Stock Holdings in Textron Inc. (NYSE:TXT)

Vanguard Group Inc. lessened its stake in shares of Textron Inc. (NYSE:TXT) by 0.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,500,776 shares of the aerospace company’s stock after selling 80,220 shares during the quarter. Vanguard Group Inc. owned approximately 11.59% of Textron worth $1,644,594,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in TXT. Mizuho Securities USA LLC raised its position in shares of Textron by 44.7% in the fourth quarter. Mizuho Securities USA LLC now owns 17,582 shares of the aerospace company’s stock valued at $1,345,000 after buying an additional 5,433 shares during the last quarter. Virtu Financial LLC grew its stake in Textron by 188.3% in the 4th quarter. Virtu Financial LLC now owns 8,782 shares of the aerospace company’s stock worth $672,000 after acquiring an additional 5,736 shares during the period. Quantbot Technologies LP raised its holdings in Textron by 414.7% in the 4th quarter. Quantbot Technologies LP now owns 129,018 shares of the aerospace company’s stock valued at $9,869,000 after acquiring an additional 103,950 shares during the last quarter. HUB Investment Partners LLC lifted its stake in shares of Textron by 30.3% during the 4th quarter. HUB Investment Partners LLC now owns 30,026 shares of the aerospace company’s stock worth $2,297,000 after purchasing an additional 6,990 shares during the period. Finally, iA Global Asset Management Inc. boosted its holdings in shares of Textron by 339.1% during the fourth quarter. iA Global Asset Management Inc. now owns 15,705 shares of the aerospace company’s stock worth $1,201,000 after purchasing an additional 12,128 shares during the last quarter. Institutional investors and hedge funds own 86.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on TXT. 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 report on Monday, January 6th. TD Cowen upgraded shares of Textron to a “hold” rating in a report on Monday, February 24th. Morgan Stanley lowered their target price on shares of Textron from $86.00 to $82.00 and set an “equal weight” rating for the company in a report on Thursday, January 23rd. Barclays cut their price target on shares of Textron from $104.00 to $95.00 and set an “overweight” rating on the stock in a research note on Monday, December 23rd. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Textron from $90.00 to $88.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $93.45.

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 Stock Up 0.2 %

Shares of NYSE TXT opened at $75.32 on Friday. The stock has a fifty day moving average price of $74.62 and a 200 day moving average price of $80.35. The company has a current ratio of 1.76, a quick ratio of 0.84 and a debt-to-equity ratio of 0.45. Textron Inc. has a 12-month low of $70.14 and a 12-month high of $97.34. The company has a market cap of $13.68 billion, a P/E ratio of 17.48, a P/E/G ratio of 1.18 and a beta of 1.27.

Textron (NYSE:TXT) 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. Research analysts anticipate that Textron Inc. will post 6.12 EPS for the current fiscal 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 paid a $0.02 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.08 annualized dividend and a dividend yield of 0.11%. Textron’s dividend payout ratio (DPR) is presently 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.