Textron Inc. (NYSE:TXT) Stake Lessened by Tredje AP fonden

Tredje AP fonden cut its stake in Textron Inc. (NYSE:TXT) by 50.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,440 shares of the aerospace company’s stock after selling 15,439 shares during the period. Tredje AP fonden’s holdings in Textron were worth $1,181,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Empirical Finance LLC boosted its holdings in Textron by 1.7% during the third quarter. Empirical Finance LLC now owns 7,047 shares of the aerospace company’s stock worth $624,000 after buying an additional 115 shares in the last quarter. Apollon Wealth Management LLC boosted its holdings in Textron by 4.9% during the third quarter. Apollon Wealth Management LLC now owns 2,655 shares of the aerospace company’s stock worth $235,000 after buying an additional 125 shares in the last quarter. Pflug Koory LLC boosted its holdings in Textron by 0.9% during the fourth quarter. Pflug Koory LLC now owns 13,778 shares of the aerospace company’s stock worth $1,054,000 after buying an additional 125 shares in the last quarter. V Square Quantitative Management LLC boosted its holdings in Textron by 5.7% during the fourth quarter. V Square Quantitative Management LLC now owns 2,611 shares of the aerospace company’s stock worth $200,000 after buying an additional 141 shares in the last quarter. Finally, Patriot Financial Group Insurance Agency LLC boosted its holdings in Textron by 5.8% during the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 2,977 shares of the aerospace company’s stock worth $228,000 after buying an additional 163 shares in the last quarter. 86.03% of the stock is currently owned by institutional investors.

Insider Activity at Textron

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

Textron Stock Performance

Shares of TXT opened at $73.38 on Friday. The company’s fifty day moving average is $75.06 and its 200-day moving average is $81.28. Textron Inc. has a 12 month low of $70.14 and a 12 month high of $97.34. The firm has a market cap of $13.33 billion, a price-to-earnings ratio of 17.02, a price-to-earnings-growth ratio of 1.18 and a beta of 1.26. The company has a quick ratio of 0.84, a current ratio of 1.76 and a debt-to-equity ratio of 0.45.

Textron (NYSE:TXT) last announced its quarterly earnings results on Wednesday, January 22nd. The aerospace company reported $1.34 EPS for the quarter, topping the consensus estimate of $1.27 by $0.07. Textron had a net margin of 6.01% and a return on equity of 14.92%. The company had revenue of $3.61 billion for the quarter, compared to analyst estimates of $3.78 billion. During the same quarter in the prior year, the business posted $1.60 EPS. Textron’s quarterly revenue was down 7.2% on a year-over-year basis. Equities analysts expect that Textron Inc. will post 6.12 EPS for the current fiscal 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 paid a $0.02 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.08 dividend on an annualized basis and a yield of 0.11%. Textron’s payout ratio is presently 1.86%.

Analysts Set New Price Targets

Several equities research analysts recently commented on TXT shares. Vertical Research upgraded shares of Textron from a “hold” rating to a “buy” rating and set a $91.00 price target for the company in a research report on Monday, January 6th. Citigroup reduced their price target on shares of Textron from $118.00 to $111.00 and set a “buy” rating for the company in a research report on Tuesday, January 21st. Susquehanna reduced their price target on shares of Textron from $100.00 to $90.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. Barclays reduced their price target on shares of Textron from $104.00 to $95.00 and set an “overweight” rating for the company in a research report on Monday, December 23rd. Finally, Robert W. Baird reduced their price target 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. One investment 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 stock has an average rating of “Moderate Buy” and a consensus target price of $93.45.

About Textron

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.