Citizens Financial Group Inc. RI Reduces Holdings in Textron Inc. (NYSE:TXT)

Citizens Financial Group Inc. RI cut its stake in Textron Inc. (NYSE:TXT) by 1.5% in the fourth quarter, Holdings Channel.com reports. The fund owned 63,267 shares of the aerospace company’s stock after selling 996 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in Textron were worth $4,839,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the stock. Empirical Finance LLC lifted its holdings in shares of Textron by 1.7% in the 3rd quarter. Empirical Finance LLC now owns 7,047 shares of the aerospace company’s stock valued at $624,000 after purchasing an additional 115 shares during the last quarter. Apollon Wealth Management LLC increased its position in Textron by 4.9% during the third quarter. Apollon Wealth Management LLC now owns 2,655 shares of the aerospace company’s stock worth $235,000 after buying an additional 125 shares during the period. Pflug Koory LLC boosted its holdings in shares of Textron by 0.9% in the fourth quarter. Pflug Koory LLC now owns 13,778 shares of the aerospace company’s stock valued at $1,054,000 after acquiring an additional 125 shares during the period. V Square Quantitative Management LLC grew its position in shares of Textron by 5.7% during the fourth quarter. V Square Quantitative Management LLC now owns 2,611 shares of the aerospace company’s stock worth $200,000 after acquiring an additional 141 shares during the last quarter. Finally, Patriot Financial Group Insurance Agency LLC increased its holdings in shares of Textron by 5.8% in the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 2,977 shares of the aerospace company’s stock valued at $228,000 after acquiring an additional 163 shares during the period. Institutional investors and hedge funds own 86.03% of the company’s stock.

Insider Transactions at Textron

In other news, VP Mark S. Bamford sold 5,451 shares of the stock in a transaction that occurred 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 sale, the vice president now directly owns 18,223 shares in the company, valued at $1,324,447.64. This represents a 23.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.70% of the company’s stock.

Textron Stock Down 2.3 %

Shares of NYSE TXT opened at $73.67 on Wednesday. The stock has a market capitalization of $13.38 billion, a price-to-earnings ratio of 17.09, a price-to-earnings-growth ratio of 1.18 and a beta of 1.26. Textron Inc. has a 52 week low of $70.14 and a 52 week high of $97.34. The firm has a 50-day moving average price of $75.25 and a 200 day moving average price of $81.52. 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 (NYSE:TXT) last posted its quarterly 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 company had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.78 billion. Textron had a net margin of 6.01% and a return on equity of 14.92%. The company’s revenue for the quarter was down 7.2% on a year-over-year basis. During the same period last year, the firm earned $1.60 EPS. Equities research analysts anticipate that Textron Inc. will post 6.12 EPS for the current fiscal year.

Textron Dividend Announcement

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

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Susquehanna decreased their price target on shares of Textron from $100.00 to $90.00 and set a “positive” rating for the company in a research note on Wednesday, January 8th. TD Cowen raised Textron to a “hold” rating in a report on Monday, February 24th. Barclays reduced their price objective on Textron from $104.00 to $95.00 and set an “overweight” rating for the company in a research note on Monday, December 23rd. Robert W. Baird lowered their target price on Textron from $100.00 to $92.00 and set an “outperform” rating on the stock in a research note on Thursday, January 23rd. Finally, Citigroup cut their price target on Textron from $118.00 to $111.00 and set a “buy” rating for the company in a research note on Tuesday, January 21st. One equities research 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. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $93.45.

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.