Ameriprise Financial Inc. Has $19.73 Million Position in Textron Inc. (NYSE:TXT)

Ameriprise Financial Inc. trimmed its position in shares of Textron Inc. (NYSE:TXT - Free Report) by 5.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 257,831 shares of the aerospace company's stock after selling 14,506 shares during the period. Ameriprise Financial Inc. owned approximately 0.14% of Textron worth $19,725,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Pflug Koory LLC grew its stake in shares of Textron by 0.9% during the fourth quarter. Pflug Koory LLC now owns 13,778 shares of the aerospace company's stock valued at $1,054,000 after purchasing an additional 125 shares during the last quarter. V Square Quantitative Management LLC increased its stake in shares of Textron by 5.7% during the 4th quarter. V Square Quantitative Management LLC now owns 2,611 shares of the aerospace company's stock worth $200,000 after purchasing an additional 141 shares during the last quarter. Syon Capital LLC increased its stake in shares of Textron by 4.5% during the 4th quarter. Syon Capital LLC now owns 3,538 shares of the aerospace company's stock worth $271,000 after purchasing an additional 153 shares during the last quarter. Patriot Financial Group Insurance Agency LLC boosted its holdings in shares of Textron by 5.8% during the 4th 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 during the period. Finally, Motley Fool Asset Management LLC boosted its holdings in Textron by 6.3% in the 4th quarter. Motley Fool Asset Management LLC now owns 2,732 shares of the aerospace company's stock valued at $209,000 after purchasing an additional 163 shares during the period. Institutional investors and hedge funds own 86.03% of the company's stock.

Insider Activity at Textron

In other news, VP Mark S. Bamford sold 5,451 shares of the firm's stock in a transaction dated 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 directly owns 18,223 shares of the company's stock, valued at $1,324,447.64. This trade represents a 23.03% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.70% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Bank of America cut shares of Textron from a "buy" rating to a "neutral" rating and lowered their price objective for the stock from $110.00 to $85.00 in a research report on Friday, January 24th. UBS Group increased their target price on shares of Textron from $62.00 to $63.00 and gave the company a "sell" rating in a report on Monday, April 28th. Morgan Stanley decreased their price objective on shares of Textron from $82.00 to $71.00 and set an "equal weight" rating for the company in a report on Friday, April 11th. Citigroup reduced their target price on shares of Textron from $111.00 to $107.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. Finally, Robert W. Baird dropped their target price 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 equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, Textron has a consensus rating of "Hold" and an average price target of $87.70.

Textron Stock Performance

TXT traded up $0.69 during trading on Friday, hitting $76.69. 1,117,976 shares of the stock were exchanged, compared to its average volume of 1,210,208. The stock has a fifty day moving average price of $69.99 and a two-hundred day moving average price of $75.61. Textron Inc. has a 1-year low of $57.70 and a 1-year high of $94.57. The firm has a market capitalization of $13.84 billion, a P/E ratio of 17.79, a PEG ratio of 1.18 and a beta of 1.20. 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 - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The aerospace company reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.11. The business had revenue of $3.31 billion for the quarter, compared to the consensus estimate of $3.26 billion. Textron had a return on equity of 14.92% and a net margin of 6.01%. The business's revenue was up 5.5% on a year-over-year basis. During the same period in the prior year, the business earned $1.20 earnings per share. As a group, sell-side analysts predict that Textron Inc. will post 6.12 earnings per share for the current year.

Textron Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be issued a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.10%. The ex-dividend date is Friday, June 13th. Textron's dividend payout ratio (DPR) is 1.81%.

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.