Textron Inc. (NYSE:TXT) Shares Sold by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board decreased its holdings in shares of Textron Inc. (NYSE:TXT) by 48.3% during the fourth quarter, Holdings Channel.com reports. The fund owned 90,477 shares of the aerospace company’s stock after selling 84,491 shares during the period. Canada Pension Plan Investment Board’s holdings in Textron were worth $6,921,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of TXT. SBI Securities Co. Ltd. acquired a new stake in shares of Textron during the fourth quarter worth about $31,000. Eastern Bank acquired a new stake in shares of Textron in the fourth quarter worth $42,000. Golden State Wealth Management LLC purchased a new position in shares of Textron during the fourth quarter worth $63,000. McClarren Financial Advisors Inc. purchased a new stake in Textron in the fourth quarter valued at $68,000. Finally, Geneos Wealth Management Inc. grew its position in Textron by 33.0% during the 4th quarter. Geneos Wealth Management Inc. now owns 964 shares of the aerospace company’s stock worth $74,000 after purchasing an additional 239 shares during the period. Institutional investors and hedge funds own 86.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. JPMorgan Chase & Co. reduced their price target on Textron from $90.00 to $88.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Vertical Research raised shares of Textron from a “hold” rating to a “buy” rating and set a $91.00 price target on the stock in a report on Monday, January 6th. Robert W. Baird decreased their price objective on shares of Textron from $100.00 to $92.00 and set an “outperform” rating for the company in a research report on Thursday, January 23rd. Susquehanna dropped their target price on Textron from $100.00 to $90.00 and set a “positive” rating on the stock in a research report on Wednesday, January 8th. Finally, Barclays lowered their price target on Textron from $104.00 to $95.00 and set an “overweight” rating on the stock in a research report on Monday, December 23rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $89.30.

Insider Buying and Selling

In other news, VP Mark S. Bamford sold 5,451 shares of the company’s stock in a transaction that occurred on 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 sale, the vice president now 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 this link. Corporate insiders own 1.70% of the company’s stock.

Textron Trading Down 2.2 %

TXT opened at $64.57 on Tuesday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.84 and a current ratio of 1.76. Textron Inc. has a one year low of $57.70 and a one year high of $95.86. The company has a market cap of $11.73 billion, a P/E ratio of 14.98, a PEG ratio of 1.18 and a beta of 1.06. The business’s 50-day simple moving average is $70.66 and its 200-day simple moving average is $77.50.

Textron (NYSE:TXT) last announced its quarterly earnings results on Wednesday, January 22nd. The aerospace company reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.07. Textron had a net margin of 6.01% and a return on equity of 14.92%. The firm had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $3.78 billion. During the same period in the previous year, the company earned $1.60 earnings per share. Textron’s quarterly revenue was down 7.2% compared to the same quarter last year. As a group, equities research analysts expect that Textron Inc. will post 6.12 EPS for the current fiscal year.

Textron Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were issued a $0.02 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.12%. Textron’s payout ratio is 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.