BNP Paribas Financial Markets Cuts Stake in Textron Inc. (NYSE:TXT)

BNP Paribas Financial Markets lessened its holdings in shares of Textron Inc. (NYSE:TXT - Free Report) by 2.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 388,668 shares of the aerospace company's stock after selling 9,698 shares during the quarter. BNP Paribas Financial Markets owned approximately 0.21% of Textron worth $29,729,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also added to or reduced their stakes in the company. Invesco Ltd. grew its holdings in shares of Textron by 17.8% in the fourth quarter. Invesco Ltd. now owns 7,733,335 shares of the aerospace company's stock valued at $591,523,000 after purchasing an additional 1,167,105 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Textron in the 4th quarter worth $41,451,000. Boston Partners increased its position in Textron by 4.7% during the 4th quarter. Boston Partners now owns 7,483,692 shares of the aerospace company's stock valued at $572,465,000 after purchasing an additional 333,127 shares during the period. Brandes Investment Partners LP boosted its holdings in shares of Textron by 19.4% in the 4th quarter. Brandes Investment Partners LP now owns 1,859,703 shares of the aerospace company's stock valued at $142,249,000 after acquiring an additional 302,712 shares during the last quarter. Finally, Marshall Wace LLP purchased a new position in shares of Textron during the 4th quarter valued at about $22,370,000. Hedge funds and other institutional investors own 86.03% of the company's stock.

Insider Activity

In other news, VP Mark S. Bamford sold 5,451 shares of the company's stock in a transaction dated 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 sale, the vice president now directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.70% of the company's stock.

Textron Trading Down 0.3%

Textron stock traded down $0.25 during trading on Tuesday, reaching $76.55. 3,006,107 shares of the company were exchanged, compared to its average volume of 1,203,758. The company has a market capitalization of $13.82 billion, a P/E ratio of 17.76, a PEG ratio of 1.18 and a beta of 1.20. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.76 and a quick ratio of 0.84. The stock's 50 day simple moving average is $69.86 and its two-hundred day simple moving average is $75.74. Textron Inc. has a 52-week low of $57.70 and a 52-week high of $94.57.

Textron (NYSE:TXT - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The aerospace company reported $1.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.17 by $0.11. The company had revenue of $3.31 billion for the quarter, compared to analyst estimates of $3.26 billion. Textron had a net margin of 6.01% and a return on equity of 14.92%. The business's revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.20 earnings per share. On average, equities research analysts expect that Textron Inc. will post 6.12 earnings per share for the current fiscal year.

Textron Announces Dividend

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

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. TD Cowen upgraded Textron to a "hold" rating in a research report on Monday, February 24th. Bank of America cut shares of Textron from a "buy" rating to a "neutral" rating and cut their price objective for the company from $110.00 to $85.00 in a report on Friday, January 24th. UBS Group increased their price target on Textron from $62.00 to $63.00 and gave the stock a "sell" rating in a research report on Monday, April 28th. JPMorgan Chase & Co. cut their price objective on Textron from $90.00 to $88.00 and set a "neutral" rating for the company in a research report on Thursday, January 16th. Finally, Morgan Stanley cut their price objective on Textron from $82.00 to $71.00 and set an "equal weight" rating for the company 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 assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $87.70.

Textron 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.