Mark S. Bamford Sells 5,451 Shares of Textron Inc. (NYSE:TXT) Stock

Textron Inc. (NYSE:TXT) VP Mark S. Bamford sold 5,451 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $72.68, for a total transaction of $396,178.68. Following the completion of the transaction, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Textron Trading Up 2.1 %

Shares of NYSE:TXT opened at $74.76 on Friday. The firm has a fifty day moving average of $75.73 and a two-hundred day moving average of $82.32. The firm has a market capitalization of $13.65 billion, a P/E ratio of 17.34, a price-to-earnings-growth ratio of 1.18 and a beta of 1.27. Textron Inc. has a 12-month low of $71.67 and a 12-month high of $97.33. 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 released its quarterly earnings data on Wednesday, January 22nd. The aerospace company reported $1.34 earnings per share (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 business had revenue of $3.61 billion during the quarter, compared to analyst estimates of $3.78 billion. During the same quarter in the previous year, the business earned $1.60 EPS. Textron’s quarterly revenue was down 7.2% compared to the same quarter last year. On average, equities analysts expect 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. Investors 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 annualized dividend and a yield of 0.11%. Textron’s dividend payout ratio (DPR) is presently 1.86%.

Analyst Upgrades and Downgrades

TXT has been the topic of a number of recent analyst reports. Bank of America cut Textron from a “buy” rating to a “neutral” rating and cut their price target for the company from $110.00 to $85.00 in a report on Friday, January 24th. JPMorgan Chase & Co. decreased their price target on shares of Textron from $90.00 to $88.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Morgan Stanley decreased their price target on shares of Textron from $86.00 to $82.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 23rd. Citigroup decreased their price target on shares of Textron from $118.00 to $111.00 and set a “buy” rating on the stock in a research report on Tuesday, January 21st. Finally, 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 research note on Monday, December 23rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $93.45.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. True Wealth Design LLC bought a new position in Textron in the 3rd quarter worth $26,000. SBI Securities Co. Ltd. bought a new position in shares of Textron during the 4th quarter worth about $31,000. Capital Performance Advisors LLP bought a new position in shares of Textron during the 3rd quarter worth about $42,000. Truvestments Capital LLC bought a new stake in Textron in the third quarter valued at about $43,000. Finally, Eastern Bank bought a new stake in Textron in the fourth quarter valued at about $42,000. Institutional investors own 86.03% of the company’s stock.

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.