Sigma Planning Corp Sells 3,945 Shares of Textron Inc. (NYSE:TXT)

Sigma Planning Corp lowered its stake in Textron Inc. (NYSE:TXT) by 60.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 2,633 shares of the aerospace company’s stock after selling 3,945 shares during the period. Sigma Planning Corp’s holdings in Textron were worth $212,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of TXT. Cambridge Investment Research Advisors Inc. increased its position in Textron by 2.2% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 15,606 shares of the aerospace company’s stock worth $1,219,000 after buying an additional 331 shares during the period. Raymond James & Associates increased its position in Textron by 15.2% during the third quarter. Raymond James & Associates now owns 197,994 shares of the aerospace company’s stock worth $15,471,000 after acquiring an additional 26,085 shares during the period. Raymond James Financial Services Advisors Inc. raised its stake in Textron by 13.6% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 29,355 shares of the aerospace company’s stock worth $2,294,000 after purchasing an additional 3,503 shares in the last quarter. Independent Advisor Alliance boosted its holdings in Textron by 13.3% in the 3rd quarter. Independent Advisor Alliance now owns 31,764 shares of the aerospace company’s stock valued at $2,482,000 after purchasing an additional 3,724 shares during the period. Finally, Genesee Capital Advisors LLC acquired a new position in shares of Textron during the 3rd quarter worth approximately $206,000. 86.03% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on TXT. Citigroup raised their target price on shares of Textron from $104.00 to $111.00 and gave the stock a “buy” rating in a report on Thursday, April 4th. Susquehanna cut their target price on Textron from $110.00 to $105.00 and set a “positive” rating for the company in a research report on Friday. StockNews.com downgraded Textron from a “strong-buy” rating to a “buy” rating in a research note on Friday. The Goldman Sachs Group increased their price objective on shares of Textron from $103.00 to $120.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Finally, Bank of America upgraded shares of Textron from a “neutral” rating to a “buy” rating and boosted their target price for the company from $85.00 to $105.00 in a research report on Friday, March 8th. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $95.63.

Textron Stock Down 0.1 %

TXT stock opened at $86.40 on Tuesday. The stock has a market capitalization of $16.48 billion, a P/E ratio of 18.46, a price-to-earnings-growth ratio of 1.36 and a beta of 1.30. The company has a current ratio of 1.81, a quick ratio of 0.84 and a debt-to-equity ratio of 0.46. The firm has a 50-day moving average price of $92.12 and a 200-day moving average price of $83.98. Textron Inc. has a 12 month low of $61.27 and a 12 month high of $97.33.

Textron (NYSE:TXT) last issued its quarterly earnings data on Thursday, April 25th. The aerospace company reported $1.20 EPS for the quarter, missing the consensus estimate of $1.28 by ($0.08). The company had revenue of $3.14 billion during the quarter, compared to the consensus estimate of $3.29 billion. Textron had a net margin of 6.75% and a return on equity of 16.30%. Textron’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same period in the previous year, the company earned $1.05 EPS. As a group, equities research analysts anticipate that Textron Inc. will post 6.29 EPS for the current fiscal year.

Textron Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be issued a $0.02 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.08 dividend on an annualized basis and a yield of 0.09%. Textron’s payout ratio is presently 1.71%.

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.