Gotham Asset Management LLC Sells 20,327 Shares of Textron Inc. (NYSE:TXT)

Gotham Asset Management LLC lessened its position in shares of Textron Inc. (NYSE:TXT - Free Report) by 62.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,090 shares of the aerospace company's stock after selling 20,327 shares during the quarter. Gotham Asset Management LLC's holdings in Textron were worth $925,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Pflug Koory LLC lifted 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 acquiring an additional 125 shares during the period. V Square Quantitative Management LLC lifted its stake in Textron by 5.7% in the fourth quarter. V Square Quantitative Management LLC now owns 2,611 shares of the aerospace company's stock valued at $200,000 after buying an additional 141 shares during the period. Syon Capital LLC lifted its stake in Textron by 4.5% in the fourth quarter. Syon Capital LLC now owns 3,538 shares of the aerospace company's stock valued at $271,000 after buying an additional 153 shares during the period. Patriot Financial Group Insurance Agency LLC lifted its stake in Textron by 5.8% in the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 2,977 shares of the aerospace company's stock valued at $228,000 after buying an additional 163 shares during the period. Finally, Motley Fool Asset Management LLC lifted its stake in Textron by 6.3% in the fourth quarter. Motley Fool Asset Management LLC now owns 2,732 shares of the aerospace company's stock valued at $209,000 after buying an additional 163 shares during the period. Institutional investors and hedge funds own 86.03% of the company's stock.

Textron Stock Down 3.5%

Textron stock traded down $2.68 during midday trading on Wednesday, reaching $73.37. The stock had a trading volume of 1,436,359 shares, compared to its average volume of 1,210,961. The firm's fifty day simple moving average is $70.15 and its 200-day simple moving average is $75.55. Textron Inc. has a 1-year low of $57.70 and a 1-year high of $94.57. The stock has a market capitalization of $13.25 billion, a P/E ratio of 17.02, a price-to-earnings-growth ratio of 1.18 and a beta of 1.20. 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 announced its earnings results on Thursday, April 24th. The aerospace company reported $1.28 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.17 by $0.11. Textron had a return on equity of 14.92% and a net margin of 6.01%. The business had revenue of $3.31 billion for the quarter, compared to analyst estimates of $3.26 billion. During the same quarter last year, the firm earned $1.20 EPS. Textron's revenue for the quarter was up 5.5% compared to the same quarter last year. As a group, analysts expect that Textron Inc. will post 6.12 EPS for the current fiscal year.

Textron Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be paid a $0.02 dividend. The ex-dividend date is Friday, June 13th. This represents a $0.08 dividend on an annualized basis and a yield of 0.11%. Textron's dividend payout ratio is 1.81%.

Insider Buying and Selling at Textron

In other news, VP Mark S. Bamford sold 5,451 shares of Textron stock in a transaction that occurred on 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 transaction, the vice president now directly owns 18,223 shares in the company, valued at approximately $1,324,447.64. The trade was a 23.03% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.70% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on TXT shares. Bank of America lowered Textron from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $110.00 to $85.00 in a research report on Friday, January 24th. TD Cowen raised Textron to a "hold" rating in a research report on Monday, February 24th. Citigroup dropped their price target on Textron from $111.00 to $107.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. UBS Group raised 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. Finally, 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 report on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, Textron presently has a consensus rating of "Hold" and an average price target of $87.70.

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.