Great Lakes Advisors LLC lowered its holdings in shares of Textron Inc. (NYSE:TXT - Free Report) by 18.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,056,463 shares of the aerospace company's stock after selling 242,942 shares during the quarter. Great Lakes Advisors LLC owned approximately 0.54% of Textron worth $84,961,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in TXT. CVA Family Office LLC bought a new position in shares of Textron during the 4th quarter valued at about $29,000. Trust Co. of Vermont purchased a new position in Textron during the 3rd quarter valued at approximately $37,000. Morton Brown Family Wealth LLC bought a new stake in Textron in the 4th quarter worth approximately $40,000. Provence Wealth Management Group bought a new stake in Textron in the 3rd quarter worth approximately $39,000. Finally, Benjamin F. Edwards & Company Inc. raised its holdings in shares of Textron by 677.1% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 544 shares of the aerospace company's stock worth $44,000 after acquiring an additional 474 shares in the last quarter. Institutional investors own 86.03% of the company's stock.
Insider Transactions at Textron
In related news, Director Kathleen M. Bader sold 11,870 shares of the business's stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $87.91, for a total value of $1,043,491.70. Following the completion of the sale, the director now owns 3,756 shares in the company, valued at $330,189.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.70% of the company's stock.
Analyst Ratings Changes
A number of equities research analysts recently issued reports on TXT shares. UBS Group upped their price target on shares of Textron from $77.00 to $81.00 and gave the company a "sell" rating in a research note on Friday, January 26th. Citigroup upped their target price on shares of Textron from $104.00 to $111.00 and gave the company a "buy" rating in a research report on Thursday, April 4th. StockNews.com lowered Textron from a "strong-buy" rating to a "buy" rating in a research report on Friday, April 26th. Bank of America upgraded Textron from a "neutral" rating to a "buy" rating and upped their price objective for the company from $85.00 to $105.00 in a research report on Friday, March 8th. Finally, Susquehanna dropped their target price on Textron from $110.00 to $105.00 and set a "positive" rating for the company in a report on Friday, April 26th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $95.63.
View Our Latest Research Report on TXT
Textron Trading Up 1.9 %
Shares of NYSE TXT traded up $1.69 during midday trading on Friday, hitting $89.17. The company's stock had a trading volume of 1,099,207 shares, compared to its average volume of 1,390,896. The business's 50 day moving average is $91.84 and its two-hundred day moving average is $84.95. Textron Inc. has a 12-month low of $61.27 and a 12-month high of $97.33. The company has a current ratio of 1.81, a quick ratio of 0.84 and a debt-to-equity ratio of 0.46. The firm has a market cap of $17.00 billion, a P/E ratio of 19.05, a price-to-earnings-growth ratio of 1.38 and a beta of 1.32.
Textron (NYSE:TXT - Get Free Report) last released its earnings results on Thursday, April 25th. The aerospace company reported $1.20 earnings per share for the quarter, missing analysts' consensus estimates of $1.28 by ($0.08). The business had revenue of $3.14 billion during the quarter, compared to analysts' expectations of $3.29 billion. Textron had a return on equity of 16.30% and a net margin of 6.75%. The business's revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.05 EPS. As a group, equities research analysts expect that Textron Inc. will post 6.27 EPS for the current year.
Textron Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be paid a $0.02 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.08 dividend on an annualized basis and a yield of 0.09%. Textron's dividend payout ratio is currently 1.71%.
Textron Profile
(
Free Report)
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.
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