Textron Inc. (NYSE:TXT) Short Interest Update

Textron Inc. (NYSE:TXT) saw a large decline in short interest in the month of March. As of March 31st, there was short interest totalling 3,570,000 shares, a decline of 16.6% from the March 15th total of 4,280,000 shares. Based on an average trading volume of 1,520,000 shares, the days-to-cover ratio is presently 2.3 days. Approximately 2.0% of the shares of the company are sold short.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on TXT. Morgan Stanley lowered their target price on shares of Textron from $82.00 to $71.00 and set an “equal weight” rating for the company in a research note on Friday, April 11th. JPMorgan Chase & Co. lowered their price objective on shares of Textron from $90.00 to $88.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. TD Cowen raised shares of Textron to a “hold” rating in a research note on Monday, February 24th. Barclays dropped their price target on Textron from $104.00 to $95.00 and set an “overweight” rating on the stock in a research note on Monday, December 23rd. Finally, Susquehanna decreased their price objective on Textron from $100.00 to $90.00 and set a “positive” rating for the company in a report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $89.30.

Insider Transactions at Textron

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 value of $396,178.68. Following the transaction, the vice president now owns 18,223 shares of the company’s stock, valued at approximately $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 can be accessed through this link. 1.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Textron

Institutional investors have recently added to or reduced their stakes in the business. SBI Securities Co. Ltd. bought a new stake in Textron during the 4th quarter valued at $31,000. Eastern Bank purchased a new position in shares of Textron in the fourth quarter valued at $42,000. Optiver Holding B.V. bought a new stake in shares of Textron during the 4th quarter valued at $56,000. MassMutual Private Wealth & Trust FSB boosted its stake in Textron by 123.3% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 842 shares of the aerospace company’s stock worth $61,000 after purchasing an additional 465 shares during the period. Finally, Golden State Wealth Management LLC purchased a new position in Textron during the 4th quarter valued at about $63,000. 86.03% of the stock is owned by hedge funds and other institutional investors.

Textron Trading Down 2.2 %

NYSE:TXT opened at $64.57 on Tuesday. Textron has a 52 week low of $57.70 and a 52 week high of $95.86. The firm has a 50-day moving average price of $70.66 and a two-hundred day moving average price of $77.50. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.84 and a current ratio of 1.76. The firm has a market cap of $11.73 billion, a price-to-earnings ratio of 14.98, a price-to-earnings-growth ratio of 1.18 and a beta of 1.06.

Textron (NYSE:TXT) last issued its quarterly earnings results on Wednesday, January 22nd. The aerospace company reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.27 by $0.07. The business had revenue of $3.61 billion for the quarter, compared to analyst estimates of $3.78 billion. Textron had a return on equity of 14.92% and a net margin of 6.01%. Textron’s quarterly revenue was down 7.2% compared to the same quarter last year. During the same period last year, the company posted $1.60 earnings per share. On average, equities analysts expect that Textron will post 6.12 earnings per share for the current fiscal year.

Textron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.12%. The ex-dividend date was Friday, March 14th. Textron’s dividend payout ratio (DPR) is 1.86%.

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.