Gotham Asset Management LLC Decreases Stock Holdings in Textron Inc. (NYSE:TXT)

Gotham Asset Management LLC lessened its stake in Textron Inc. (NYSE:TXT - Free Report) by 62.7% in the 4th quarter, according to its most recent disclosure 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 reporting period.

Other institutional investors have also made changes to their positions in the company. Hennion & Walsh Asset Management Inc. raised its position in Textron by 34.0% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 11,617 shares of the aerospace company's stock worth $889,000 after acquiring an additional 2,948 shares in the last quarter. Merit Financial Group LLC raised its position in Textron by 5.9% during the fourth quarter. Merit Financial Group LLC now owns 4,784 shares of the aerospace company's stock worth $366,000 after acquiring an additional 265 shares in the last quarter. HB Wealth Management LLC raised its position in Textron by 11.6% during the fourth quarter. HB Wealth Management LLC now owns 4,773 shares of the aerospace company's stock worth $365,000 after acquiring an additional 496 shares in the last quarter. Uncommon Cents Investing LLC raised its position in Textron by 2.2% during the fourth quarter. Uncommon Cents Investing LLC now owns 7,985 shares of the aerospace company's stock worth $611,000 after acquiring an additional 175 shares in the last quarter. Finally, Pure Financial Advisors LLC bought a new stake in Textron during the fourth quarter worth $211,000. Institutional investors own 86.03% of the company's stock.

Insider Activity at Textron

In related news, VP Mark S. Bamford sold 5,451 shares of Textron 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 sale, the vice president now owns 18,223 shares in the company, valued at $1,324,447.64. The trade was a 23.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.70% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on TXT shares. TD Cowen upgraded shares of Textron to a "hold" rating in a research note on Monday, February 24th. Robert W. Baird decreased their price target on shares of Textron from $100.00 to $92.00 and set an "outperform" rating on the stock in a report on Thursday, January 23rd. Morgan Stanley cut their target price on shares of Textron from $82.00 to $71.00 and set an "equal weight" rating on the stock in a research report on Friday, April 11th. UBS Group lifted their target price on shares of Textron from $62.00 to $63.00 and gave the stock a "sell" rating in a research report on Monday, April 28th. Finally, Bank of America downgraded shares of 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. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $87.70.

Textron Stock Performance

TXT traded down $0.46 during trading on Friday, hitting $73.02. 804,249 shares of the company traded hands, compared to its average volume of 1,213,333. The company has a quick ratio of 0.84, a current ratio of 1.76 and a debt-to-equity ratio of 0.45. The firm has a market cap of $13.18 billion, a P/E ratio of 16.94, a price-to-earnings-growth ratio of 1.18 and a beta of 1.20. Textron Inc. has a one year low of $57.70 and a one year high of $94.57. The stock's fifty day moving average is $70.10 and its 200 day moving average is $75.40.

Textron (NYSE:TXT - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The aerospace company reported $1.28 EPS for the quarter, beating analysts' consensus estimates of $1.17 by $0.11. The company had revenue of $3.31 billion during 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%. Textron's revenue was up 5.5% compared to the same quarter last year. During the same period last year, the business earned $1.20 earnings per share. As a group, equities analysts predict that Textron Inc. will post 6.12 EPS for the current fiscal year.

Textron Announces Dividend

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 yield of 0.11%. The ex-dividend date of this dividend is Friday, June 13th. Textron's dividend payout ratio (DPR) is currently 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.