Knightsbridge Asset Management LLC Has $5.40 Million Stock Holdings in Textron Inc. (NYSE:TXT)

Knightsbridge Asset Management LLC lessened its position in shares of Textron Inc. (NYSE:TXT - Free Report) by 5.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 70,613 shares of the aerospace company's stock after selling 4,194 shares during the period. Knightsbridge Asset Management LLC's holdings in Textron were worth $5,401,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. SBI Securities Co. Ltd. bought a new stake in Textron during the 4th quarter valued at $31,000. Eastern Bank acquired a new position in shares of Textron during the 4th quarter valued at $42,000. Golden State Wealth Management LLC acquired a new position in shares of Textron during the 4th quarter valued at $63,000. McClarren Financial Advisors Inc. acquired a new position in shares of Textron during the 4th quarter valued at $68,000. Finally, Geneos Wealth Management Inc. increased its position in shares of Textron by 33.0% during the 4th quarter. Geneos Wealth Management Inc. now owns 964 shares of the aerospace company's stock valued at $74,000 after purchasing an additional 239 shares during the period. Institutional investors own 86.03% of the company's stock.

Insider Transactions at Textron

In related news, VP Mark S. Bamford sold 5,451 shares of the stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $72.68, for a total value of $396,178.68. Following the transaction, the vice president now owns 18,223 shares in the company, valued at approximately $1,324,447.64. This represents a 23.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 1.70% of the stock is owned by insiders.

Textron Trading Down 0.4 %

TXT stock traded down $0.25 during mid-day trading on Wednesday, reaching $69.73. 364,438 shares of the stock traded hands, compared to its average volume of 1,179,498. The stock's fifty day moving average is $70.11 and its 200-day moving average is $76.80. The company has a current ratio of 1.76, a quick ratio of 0.84 and a debt-to-equity ratio of 0.45. The company has a market cap of $12.66 billion, a P/E ratio of 16.18, a P/E/G ratio of 1.18 and a beta of 1.06. 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 posted 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 business 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%. The firm's revenue 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. As a group, sell-side analysts expect that Textron Inc. will post 6.12 earnings per share for the current year.

Textron Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders 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 0.11%. The ex-dividend date of this dividend is Friday, June 13th. Textron's dividend payout ratio (DPR) is 1.81%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on TXT. JPMorgan Chase & Co. lowered their price target on Textron from $90.00 to $88.00 and set a "neutral" rating on the stock in a research report on Thursday, January 16th. Morgan Stanley lowered their price target 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. Susquehanna cut their target price on Textron from $100.00 to $90.00 and set a "positive" rating on the stock in a research report on Wednesday, January 8th. Vertical Research upgraded Textron from a "hold" rating to a "buy" rating and set a $91.00 price target for the company in a research report on Monday, January 6th. Finally, Bank of America cut 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 note on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Textron currently has a consensus rating of "Hold" and a consensus 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.