Nuveen Asset Management LLC Sells 25,463 Shares of Textron Inc. (NYSE:TXT)

Nuveen Asset Management LLC cut its holdings in Textron Inc. (NYSE:TXT - Free Report) by 6.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 372,951 shares of the aerospace company's stock after selling 25,463 shares during the period. Nuveen Asset Management LLC owned 0.20% of Textron worth $28,527,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. Invesco Ltd. increased its stake 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 worth $591,523,000 after purchasing an additional 1,167,105 shares during the period. Boston Partners increased its stake in shares of Textron by 4.7% in 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 period. Geode Capital Management LLC increased its position in Textron by 3.7% during the fourth quarter. Geode Capital Management LLC now owns 4,595,861 shares of the aerospace company's stock worth $350,619,000 after acquiring an additional 164,964 shares during the period. Brandes Investment Partners LP increased its position in Textron by 19.4% during the fourth quarter. Brandes Investment Partners LP now owns 1,859,703 shares of the aerospace company's stock worth $142,249,000 after acquiring an additional 302,712 shares during the period. Finally, Northern Trust Corp increased its position in Textron by 9.4% during the fourth quarter. Northern Trust Corp now owns 1,803,778 shares of the aerospace company's stock worth $137,971,000 after acquiring an additional 155,384 shares during the period. 86.03% of the stock is currently owned by institutional investors.

Textron Trading Down 3.5%

Shares of Textron stock opened at $73.37 on Thursday. Textron Inc. has a 52-week low of $57.70 and a 52-week high of $94.57. The firm has a market capitalization of $13.25 billion, a PE ratio of 17.02, a price-to-earnings-growth ratio of 1.18 and a beta of 1.20. The company's fifty day moving average price is $70.15 and its two-hundred day moving average price is $75.53. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.76 and a quick ratio of 0.84.

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

Textron Dividend Announcement

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

Insider Transactions at Textron

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 sale, the vice president now owns 18,223 shares of the company's stock, valued at approximately $1,324,447.64. This represents a 23.03% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.70% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on TXT shares. Robert W. Baird dropped their target price on shares of Textron from $100.00 to $92.00 and set an "outperform" rating on the stock in a research report on Thursday, January 23rd. Morgan Stanley dropped 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. Bank of America lowered 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 research note on Friday, January 24th. Citigroup lowered their price target on Textron from $111.00 to $107.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th. Finally, UBS Group boosted their price target on Textron from $62.00 to $63.00 and gave the company a "sell" rating in a research note on Monday, April 28th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Textron presently has a consensus 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.