Textron Inc. (NYSE:TXT) Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. trimmed its stake in shares of Textron Inc. (NYSE:TXT) by 0.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,500,776 shares of the aerospace company’s stock after selling 80,220 shares during the quarter. Vanguard Group Inc. owned approximately 0.12% of Textron worth $1,644,594,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. True Wealth Design LLC bought a new position in shares of Textron during the third quarter worth about $26,000. SBI Securities Co. Ltd. acquired a new stake in Textron during the fourth quarter valued at approximately $31,000. Eastern Bank bought a new position in Textron during the 4th quarter worth approximately $42,000. Truvestments Capital LLC acquired a new position in shares of Textron in the 3rd quarter worth approximately $43,000. Finally, Golden State Wealth Management LLC bought a new stake in shares of Textron in the 4th quarter valued at approximately $63,000. 86.03% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Bank of America downgraded shares of Textron from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $110.00 to $85.00 in a report on Friday, January 24th. Morgan Stanley lowered their price objective on shares of Textron from $86.00 to $82.00 and set an “equal weight” rating for the company in a research report on Thursday, January 23rd. JPMorgan Chase & Co. cut their target price on shares of Textron from $90.00 to $88.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Citigroup lowered their target price on Textron from $118.00 to $111.00 and set a “buy” rating for the company in a report on Tuesday, January 21st. Finally, Barclays cut their price target on Textron from $104.00 to $95.00 and set an “overweight” rating on the stock in a report on Monday, December 23rd. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $93.45.

Insider Buying and Selling at Textron

In other news, VP Mark S. Bamford sold 5,451 shares of the business’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $72.68, for a total value of $396,178.68. Following the sale, the vice president now owns 18,223 shares of the company’s stock, valued at approximately $1,324,447.64. The trade was a 23.03 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.70% of the stock is currently owned by corporate insiders.

Textron Trading Up 0.2 %

Shares of TXT stock opened at $75.32 on Friday. The firm has a market capitalization of $13.68 billion, a PE ratio of 17.48, a price-to-earnings-growth ratio of 1.18 and a beta of 1.27. 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 1 year low of $70.14 and a 1 year high of $97.34. The stock has a fifty day moving average of $74.62 and a two-hundred day moving average of $80.35.

Textron (NYSE:TXT) last announced its 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. 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 analyst estimates of $3.78 billion. During the same quarter in the prior year, the firm posted $1.60 EPS. Textron’s revenue was down 7.2% compared to the same quarter last year. As a group, research analysts expect that Textron Inc. will post 6.12 EPS for the current 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 dividend of $0.02 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.08 annualized dividend and a yield of 0.11%. 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.