Textron Inc. (NYSE:TXT) Shares Sold by Man Group plc

Man Group plc cut its position in Textron Inc. (NYSE:TXT - Free Report) by 75.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 204,802 shares of the aerospace company's stock after selling 635,387 shares during the period. Man Group plc owned approximately 0.11% of Textron worth $15,665,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of TXT. Balyasny Asset Management L.P. increased its holdings in Textron by 6,785.9% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,236,441 shares of the aerospace company's stock worth $94,575,000 after buying an additional 1,218,485 shares during the period. Invesco Ltd. boosted its holdings in shares of Textron by 17.8% in the 4th quarter. Invesco Ltd. now owns 7,733,335 shares of the aerospace company's stock valued at $591,523,000 after acquiring an additional 1,167,105 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Textron in the 4th quarter valued at $41,451,000. D. E. Shaw & Co. Inc. increased its stake in shares of Textron by 97.9% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,031,144 shares of the aerospace company's stock worth $78,872,000 after acquiring an additional 510,085 shares during the period. Finally, Boston Partners raised its holdings in shares of Textron by 4.7% during the fourth quarter. Boston Partners now owns 7,483,692 shares of the aerospace company's stock worth $572,465,000 after purchasing an additional 333,127 shares during the last quarter. 86.03% of the stock is owned by institutional investors and hedge funds.

Textron Price Performance

TXT traded down $0.73 during trading on Friday, hitting $72.75. The company's stock had a trading volume of 153,727 shares, compared to its average volume of 1,209,138. The firm has a market capitalization of $13.13 billion, a price-to-earnings ratio of 16.90, a P/E/G ratio of 1.18 and a beta of 1.20. Textron Inc. has a twelve month low of $57.70 and a twelve month high of $94.57. The business's fifty day simple moving average is $70.12 and its 200 day simple moving average is $75.47. The company has a current ratio of 1.76, a quick ratio of 0.84 and a debt-to-equity ratio of 0.45.

Textron (NYSE:TXT - Get Free Report) last released its quarterly 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. The firm had revenue of $3.31 billion for the quarter, compared to analysts' expectations of $3.26 billion. Textron had a net margin of 6.01% and a return on equity of 14.92%. The firm's revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter last year, the company earned $1.20 EPS. On average, equities research analysts forecast that Textron Inc. will post 6.12 EPS for the current fiscal year.

Textron Dividend Announcement

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

Insider Buying and Selling

In related news, VP Mark S. Bamford sold 5,451 shares of Textron stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $72.68, for a total value of $396,178.68. Following the sale, 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 transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 1.70% of the company's stock.

Analyst Ratings Changes

Several research firms have commented on TXT. Bank of America lowered shares of Textron from a "buy" rating to a "neutral" rating and lowered their price target for the company from $110.00 to $85.00 in a report on Friday, January 24th. Robert W. Baird lowered their target price 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 raised Textron to a "hold" rating in a report on Monday, February 24th. Citigroup decreased their price target on Textron from $111.00 to $107.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Finally, Morgan Stanley lowered their price objective 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 assigned a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $87.70.

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.