Textron Inc. (NYSE:TXT) Shares Sold by Acadian Asset Management LLC

Acadian Asset Management LLC reduced its holdings in Textron Inc. (NYSE:TXT) by 99.8% during the 2nd quarter, Holdings Channel reports. The firm owned 1,436 shares of the aerospace company’s stock after selling 673,681 shares during the quarter. Acadian Asset Management LLC’s holdings in Textron were worth $97,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Capital Analysts LLC purchased a new position in shares of Textron during the 1st quarter valued at approximately $29,000. Capital Advisors Ltd. LLC lifted its holdings in Textron by 6,300.0% during the second quarter. Capital Advisors Ltd. LLC now owns 448 shares of the aerospace company’s stock valued at $30,000 after purchasing an additional 441 shares in the last quarter. Money Concepts Capital Corp grew its position in shares of Textron by 109.0% in the fourth quarter. Money Concepts Capital Corp now owns 443 shares of the aerospace company’s stock valued at $31,000 after purchasing an additional 231 shares during the period. CENTRAL TRUST Co increased its stake in shares of Textron by 100.0% during the third quarter. CENTRAL TRUST Co now owns 600 shares of the aerospace company’s stock worth $35,000 after purchasing an additional 300 shares in the last quarter. Finally, Lazard Asset Management LLC acquired a new position in shares of Textron during the 1st quarter worth about $40,000. 85.92% of the stock is owned by institutional investors and hedge funds.

Textron Trading Up 0.7 %

Shares of TXT opened at $77.98 on Tuesday. Textron Inc. has a 12-month low of $61.27 and a 12-month high of $81.39. The firm has a market capitalization of $15.28 billion, a P/E ratio of 16.81, a P/E/G ratio of 1.18 and a beta of 1.40. The firm has a 50-day moving average price of $77.08 and a 200 day moving average price of $72.32. The company has a current ratio of 1.88, a quick ratio of 0.92 and a debt-to-equity ratio of 0.45.

Textron (NYSE:TXT) last announced its quarterly earnings results on Thursday, October 26th. The aerospace company reported $1.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.27 by $0.22. Textron had a net margin of 7.07% and a return on equity of 14.70%. The business had revenue of $3.34 billion during the quarter, compared to the consensus estimate of $3.48 billion. During the same quarter last year, the firm earned $1.06 EPS. The business’s revenue was up 8.6% compared to the same quarter last year. Sell-side analysts forecast that Textron Inc. will post 5.54 EPS for the current year.

Textron Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 1st. Stockholders of record on Friday, December 15th will be issued a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.10%. The ex-dividend date is Thursday, December 14th. Textron’s dividend payout ratio is presently 1.72%.

Insider Buying and Selling

In other Textron news, Director R Kerry Clark sold 9,353 shares of the company’s stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $75.10, for a total value of $702,410.30. Following the transaction, the director now owns 4,517 shares of the company’s stock, valued at $339,226.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.70% of the company’s stock.

Analysts Set New Price Targets

TXT has been the topic of several research analyst reports. Bank of America lifted their price objective on Textron from $76.00 to $85.00 and gave the stock a “neutral” rating in a report on Tuesday, August 15th. Susquehanna reiterated a “positive” rating on shares of Textron in a research report on Friday, October 27th. Citigroup raised their price objective on Textron from $90.00 to $95.00 and gave the company a “buy” rating in a report on Friday, July 28th. Morgan Stanley upped their target price on shares of Textron from $86.00 to $88.00 and gave the stock an “overweight” rating in a report on Friday, October 27th. Finally, StockNews.com upgraded shares of Textron from a “buy” rating to a “strong-buy” rating in a research report on Friday, October 27th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Textron presently has a consensus rating of “Moderate Buy” and a consensus price target of $84.71.

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.