Schonfeld Strategic Advisors LLC cut its holdings in shares of Textron Inc. (NYSE:TXT - Free Report) by 55.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 19,542 shares of the aerospace company's stock after selling 24,078 shares during the period. Schonfeld Strategic Advisors LLC's holdings in Textron were worth $1,495,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. SBI Securities Co. Ltd. acquired a new position in shares of Textron in the fourth quarter valued at about $31,000. Eastern Bank purchased a new stake in Textron in the fourth quarter valued at approximately $42,000. Optiver Holding B.V. acquired a new position in Textron in the 4th quarter worth approximately $56,000. Golden State Wealth Management LLC acquired a new stake in Textron during the 4th quarter valued at approximately $63,000. Finally, McClarren Financial Advisors Inc. purchased a new stake in shares of Textron in the 4th quarter valued at $68,000. Hedge funds and other institutional investors own 86.03% of the company's stock.
Textron Price Performance
Shares of NYSE:TXT traded up $0.14 during midday trading on Friday, hitting $72.36. The company's stock had a trading volume of 1,146,176 shares, compared to its average volume of 1,191,327. The company has a market cap of $13.06 billion, a P/E ratio of 16.79, a price-to-earnings-growth ratio of 1.18 and a beta of 1.20. The business's 50 day simple moving average is $69.78 and its 200 day simple moving average is $75.89. Textron Inc. has a 12-month low of $57.70 and a 12-month high of $94.57. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.84 and a current ratio of 1.76.
Textron (NYSE:TXT - Get Free Report) last announced its quarterly earnings results 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. 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 company's revenue was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.20 EPS. On average, analysts forecast that Textron Inc. will post 6.12 EPS for the current year.
Textron Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be given a $0.02 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.08 dividend on an annualized basis and a yield of 0.11%. Textron's payout ratio is currently 1.81%.
Wall Street Analyst Weigh In
A number of research analysts recently issued reports on TXT shares. Robert W. Baird decreased their target price on shares of Textron from $100.00 to $92.00 and set an "outperform" rating for the company in a research report on Thursday, January 23rd. Bank of America lowered Textron from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $110.00 to $85.00 in a report on Friday, January 24th. JPMorgan Chase & Co. decreased their price target on Textron from $90.00 to $88.00 and set a "neutral" rating for the company in a report on Thursday, January 16th. TD Cowen upgraded shares of Textron to a "hold" rating in a research report on Monday, February 24th. Finally, Morgan Stanley cut their price objective on Textron from $82.00 to $71.00 and set an "equal weight" rating for the company in a research report on Friday, April 11th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $87.70.
Check Out Our Latest Research Report on TXT
Insider Buying and Selling at Textron
In other Textron news, VP Mark S. Bamford sold 5,451 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $72.68, for a total transaction of $396,178.68. Following the sale, the vice president now directly owns 18,223 shares in the company, valued at $1,324,447.64. This represents a 23.03 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.70% of the company's stock.
Textron Profile
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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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