Ensign Peak Advisors Inc lowered its stake in Textron Inc. (NYSE:TXT - Free Report) by 6.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 218,759 shares of the aerospace company's stock after selling 14,664 shares during the period. Ensign Peak Advisors Inc owned approximately 0.12% of Textron worth $16,733,000 as of its most recent filing with the SEC.
Other hedge funds also recently modified their holdings of the company. SBI Securities Co. Ltd. bought a new position in shares of Textron in the fourth quarter worth $31,000. Eastern Bank bought a new position in Textron in the fourth quarter valued at about $42,000. Optiver Holding B.V. bought a new position in Textron in the fourth quarter valued at about $56,000. Golden State Wealth Management LLC bought a new position in Textron in the fourth quarter valued at about $63,000. Finally, McClarren Financial Advisors Inc. bought a new position in Textron in the fourth quarter valued at about $68,000. Institutional investors own 86.03% of the company's stock.
Textron Trading Up 0.9%
Shares of TXT stock traded up $0.69 during mid-day trading on Friday, reaching $76.69. 1,117,976 shares of the stock traded hands, compared to its average volume of 1,210,208. The stock's fifty day simple moving average is $69.99 and its two-hundred day simple moving average is $75.61. Textron Inc. has a 1-year low of $57.70 and a 1-year high of $94.57. The company has a market cap of $13.84 billion, a price-to-earnings ratio of 17.79, a price-to-earnings-growth ratio of 1.18 and a beta of 1.20. The company has a quick ratio of 0.84, a current ratio of 1.76 and a debt-to-equity ratio of 0.45.
Textron (NYSE:TXT - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The aerospace company reported $1.28 EPS for the quarter, beating analysts' consensus estimates 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 business's revenue for the quarter was up 5.5% on a year-over-year basis. During the same period last year, the firm posted $1.20 earnings per share. On average, research analysts anticipate that Textron Inc. will post 6.12 EPS for the current fiscal year.
Textron Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be paid a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.10%. The ex-dividend date is Friday, June 13th. Textron's dividend payout ratio is currently 1.81%.
Analyst Upgrades and Downgrades
TXT has been the topic of a number of recent analyst reports. Bank of America cut Textron from a "buy" rating to a "neutral" rating and decreased their target price for the company from $110.00 to $85.00 in a research report on Friday, January 24th. Robert W. Baird decreased 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. TD Cowen upgraded Textron to a "hold" rating in a research report on Monday, February 24th. UBS Group lifted their target price on Textron from $62.00 to $63.00 and gave the company a "sell" rating in a research report on Monday, April 28th. Finally, Citigroup decreased their target price on Textron from $111.00 to $107.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $87.70.
Read Our Latest Stock Analysis on TXT
Insider Buying and Selling
In related news, VP Mark S. Bamford sold 5,451 shares of Textron 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 directly owns 18,223 shares of the company's stock, valued at $1,324,447.64. The trade was a 23.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.70% of the stock is owned by insiders.
Textron Company 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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