T. Rowe Price Investment Management Inc. Sells 1,520,990 Shares of Textron Inc. (NYSE:TXT)

T. Rowe Price Investment Management Inc. lessened its stake in Textron Inc. (NYSE:TXT - Free Report) by 11.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,333,509 shares of the aerospace company's stock after selling 1,520,990 shares during the period. T. Rowe Price Investment Management Inc. owned 6.11% of Textron worth $866,901,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Pflug Koory LLC increased its stake in shares of Textron by 0.9% during the fourth quarter. Pflug Koory LLC now owns 13,778 shares of the aerospace company's stock valued at $1,054,000 after buying an additional 125 shares during the period. V Square Quantitative Management LLC grew its holdings in Textron by 5.7% during the 4th quarter. V Square Quantitative Management LLC now owns 2,611 shares of the aerospace company's stock worth $200,000 after acquiring an additional 141 shares in the last quarter. Patriot Financial Group Insurance Agency LLC increased its position in Textron by 5.8% during the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 2,977 shares of the aerospace company's stock valued at $228,000 after purchasing an additional 163 shares during the period. Motley Fool Asset Management LLC raised its holdings in shares of Textron by 6.3% in the 4th quarter. Motley Fool Asset Management LLC now owns 2,732 shares of the aerospace company's stock valued at $209,000 after purchasing an additional 163 shares in the last quarter. Finally, Foundations Investment Advisors LLC lifted its position in shares of Textron by 4.1% in the 4th quarter. Foundations Investment Advisors LLC now owns 4,272 shares of the aerospace company's stock worth $327,000 after purchasing an additional 169 shares during the period. Institutional investors own 86.03% of the company's stock.

Insider Buying and Selling

In other news, VP Mark S. Bamford sold 5,451 shares of the company's 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 transaction, the vice president now owns 18,223 shares in the company, valued at $1,324,447.64. This represents a 23.03 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 1.70% of the company's stock.

Textron Stock Up 0.9 %

NYSE:TXT traded up $0.65 during mid-day trading on Monday, hitting $69.07. The company had a trading volume of 460,861 shares, compared to its average volume of 1,510,692. The firm has a market capitalization of $12.54 billion, a price-to-earnings ratio of 16.02, a PEG ratio of 1.18 and a beta of 1.06. Textron Inc. has a 1 year low of $57.70 and a 1 year high of $94.57. The business has a fifty day simple moving average of $70.22 and a 200-day simple moving average of $76.97. 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 issued its earnings results on Thursday, April 24th. The aerospace company reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.17 by $0.11. The firm had revenue of $3.31 billion for the quarter, compared to analyst estimates of $3.26 billion. Textron had a return on equity of 14.92% and a net margin of 6.01%. The firm's revenue for the quarter was up 5.5% on a year-over-year basis. During the same period last year, the company earned $1.20 earnings per share. Equities analysts forecast that Textron Inc. will post 6.12 earnings per share for the current fiscal year.

Textron Announces Dividend

The business also recently disclosed 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. This represents a $0.08 annualized dividend and a dividend yield of 0.12%. The ex-dividend date is Friday, June 13th. Textron's dividend payout ratio is presently 1.81%.

Analyst Upgrades and Downgrades

TXT has been the topic of several analyst reports. Susquehanna cut their target price on Textron from $100.00 to $90.00 and set a "positive" rating on the stock in a research note on Wednesday, January 8th. Robert W. Baird reduced their target price on Textron from $100.00 to $92.00 and set an "outperform" rating on the stock in a research report on Thursday, January 23rd. Citigroup lowered 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. TD Cowen upgraded shares of Textron to a "hold" rating in a report on Monday, February 24th. Finally, Vertical Research upgraded shares of Textron from a "hold" rating to a "buy" rating and set a $91.00 target price for the company in a research note on Monday, January 6th. One 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 MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $89.30.

Textron 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.