Baxter Bros Inc. Lowers Stake in Textron Inc. (NYSE:TXT)

Baxter Bros Inc. lessened its holdings in Textron Inc. (NYSE:TXT) by 22.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,690 shares of the aerospace company’s stock after selling 9,095 shares during the period. Baxter Bros Inc.’s holdings in Textron were worth $2,424,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of TXT. EntryPoint Capital LLC raised its stake in shares of Textron by 157.9% during the 4th quarter. EntryPoint Capital LLC now owns 7,248 shares of the aerospace company’s stock worth $554,000 after buying an additional 4,438 shares during the period. Mizuho Securities USA LLC raised its position in Textron by 44.7% during the fourth quarter. Mizuho Securities USA LLC now owns 17,582 shares of the aerospace company’s stock worth $1,345,000 after acquiring an additional 5,433 shares during the period. Virtu Financial LLC lifted its holdings in Textron by 188.3% during the fourth quarter. Virtu Financial LLC now owns 8,782 shares of the aerospace company’s stock valued at $672,000 after purchasing an additional 5,736 shares in the last quarter. Quantbot Technologies LP increased its stake in shares of Textron by 414.7% during the fourth quarter. Quantbot Technologies LP now owns 129,018 shares of the aerospace company’s stock worth $9,869,000 after purchasing an additional 103,950 shares in the last quarter. Finally, HUB Investment Partners LLC raised its position in shares of Textron by 30.3% during the 4th quarter. HUB Investment Partners LLC now owns 30,026 shares of the aerospace company’s stock worth $2,297,000 after purchasing an additional 6,990 shares during the last quarter. Institutional investors and hedge funds own 86.03% of the company’s stock.

Insider Transactions at Textron

In other Textron news, VP Mark S. Bamford sold 5,451 shares of the business’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 sale, the vice president now owns 18,223 shares of the company’s stock, valued at $1,324,447.64. The trade was a 23.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.70% of the company’s stock.

Textron Trading Up 1.6 %

TXT opened at $74.23 on Tuesday. The stock has a market capitalization of $13.48 billion, a PE ratio of 17.22, a P/E/G ratio of 1.18 and a beta of 1.27. Textron Inc. has a one year low of $70.14 and a one year high of $97.34. 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 business’s 50 day moving average price is $74.83 and its 200 day moving average price is $80.51.

Textron (NYSE:TXT) last announced its quarterly earnings results on Wednesday, January 22nd. The aerospace company reported $1.34 EPS for the quarter, beating the consensus estimate 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%. The company’s quarterly revenue was down 7.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.60 EPS. As a group, equities research analysts expect that Textron Inc. will post 6.12 EPS for the current year.

Textron Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.11%. The ex-dividend date is Friday, March 14th. Textron’s dividend payout ratio (DPR) is 1.86%.

Wall Street Analyst Weigh In

Several research firms have commented on TXT. TD Cowen upgraded Textron to a “hold” rating in a research note on Monday, February 24th. Susquehanna dropped their price target on Textron from $100.00 to $90.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. Robert W. Baird decreased their price objective on Textron from $100.00 to $92.00 and set an “outperform” rating on the stock in a report on Thursday, January 23rd. Morgan Stanley dropped their target price on shares of Textron from $86.00 to $82.00 and set an “equal weight” rating for the company in a report on Thursday, January 23rd. Finally, Bank of America downgraded shares of Textron from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $110.00 to $85.00 in a research note on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Textron presently has an average rating of “Moderate Buy” and a consensus price target 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.