Textron Inc. (NYSE:TXT) is Barington Capital Group L.P.'s 9th Largest Position

Barington Capital Group L.P. reduced its holdings in shares of Textron Inc. (NYSE:TXT - Free Report) by 44.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 31,225 shares of the aerospace company's stock after selling 25,000 shares during the period. Textron comprises 2.2% of Barington Capital Group L.P.'s portfolio, making the stock its 9th largest holding. Barington Capital Group L.P.'s holdings in Textron were worth $2,388,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. SBI Securities Co. Ltd. purchased a new stake in Textron during the fourth quarter valued at approximately $31,000. Eastern Bank purchased a new stake in shares of Textron in the fourth quarter worth about $42,000. Golden State Wealth Management LLC purchased a new stake in shares of Textron in the fourth quarter worth about $63,000. McClarren Financial Advisors Inc. purchased a new stake in shares of Textron in the fourth quarter worth about $68,000. Finally, Geneos Wealth Management Inc. increased its stake in Textron by 33.0% during the fourth quarter. Geneos Wealth Management Inc. now owns 964 shares of the aerospace company's stock worth $74,000 after acquiring an additional 239 shares during the last quarter. 86.03% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, VP Mark S. Bamford sold 5,451 shares of the company'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 completion of the transaction, the vice president now owns 18,223 shares in the company, valued at approximately $1,324,447.64. This represents a 23.03 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 1.70% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Citigroup cut their target price on Textron from $111.00 to $107.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th. Vertical Research upgraded Textron from a "hold" rating to a "buy" rating and set a $91.00 target price for the company in a report on Monday, January 6th. Robert W. Baird dropped their price target on Textron from $100.00 to $92.00 and set an "outperform" rating on the stock in a research note on Thursday, January 23rd. TD Cowen upgraded Textron to a "hold" rating in a research report on Monday, February 24th. Finally, Morgan Stanley decreased their target price on Textron from $82.00 to $71.00 and set an "equal weight" rating on the stock in a research report on Friday, April 11th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, Textron has an average rating of "Hold" and a consensus price target of $87.70.

Textron Trading Up 0.1 %

Shares of Textron stock traded up $0.08 on Thursday, reaching $70.45. The company had a trading volume of 364,936 shares, compared to its average volume of 1,504,393. The firm's 50 day moving average price is $70.07 and its two-hundred day moving average price is $76.75. The firm has a market cap of $12.72 billion, a PE ratio of 16.35, a PEG ratio of 1.18 and a beta of 1.06. Textron Inc. has a 52-week low of $57.70 and a 52-week high of $94.57. 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 (NYSE:TXT - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The aerospace company reported $1.28 EPS for the quarter, topping the consensus estimate of $1.17 by $0.11. Textron had a net margin of 6.01% and a return on equity of 14.92%. The company had revenue of $3.31 billion during the quarter, compared to analysts' expectations of $3.26 billion. During the same quarter in the previous year, the business posted $1.20 EPS. The firm's revenue was up 5.5% on a year-over-year basis. Sell-side analysts predict that Textron Inc. will post 6.12 earnings per share for the current fiscal year.

Textron Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.11%. The ex-dividend date of this dividend is Friday, June 13th. Textron's dividend payout ratio (DPR) is presently 1.81%.

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.