Private Advisor Group LLC Sells 152 Shares of Textron Inc. (NYSE:TXT)

Private Advisor Group LLC lessened its stake in shares of Textron Inc. (NYSE:TXT) by 1.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,796 shares of the aerospace company’s stock after selling 152 shares during the period. Private Advisor Group LLC’s holdings in Textron were worth $1,208,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Robeco Institutional Asset Management B.V. increased its position in shares of Textron by 3.3% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 511,770 shares of the aerospace company’s stock worth $39,145,000 after purchasing an additional 16,359 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its stake in Textron by 0.9% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 475,420 shares of the aerospace company’s stock worth $36,365,000 after buying an additional 4,381 shares in the last quarter. Wellington Management Group LLP increased its holdings in Textron by 18.0% in the 3rd quarter. Wellington Management Group LLP now owns 401,475 shares of the aerospace company’s stock valued at $35,563,000 after buying an additional 61,248 shares during the period. BNP Paribas Financial Markets raised its position in shares of Textron by 14.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 398,366 shares of the aerospace company’s stock valued at $35,287,000 after buying an additional 50,936 shares in the last quarter. Finally, National Pension Service lifted its holdings in shares of Textron by 2.6% during the 3rd quarter. National Pension Service now owns 368,481 shares of the aerospace company’s stock worth $32,640,000 after acquiring an additional 9,491 shares during the period. 86.03% of the stock is owned by institutional investors and hedge funds.

Textron Stock Performance

NYSE:TXT opened at $73.19 on Friday. The stock’s 50-day moving average is $75.77 and its 200-day moving average is $82.39. Textron Inc. has a 1-year low of $71.67 and a 1-year high of $97.33. 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 stock has a market cap of $13.36 billion, a P/E ratio of 16.98, a price-to-earnings-growth ratio of 1.18 and a beta of 1.27.

Textron (NYSE:TXT) last posted its earnings results on Wednesday, January 22nd. The aerospace company reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $0.07. The firm had revenue of $3.61 billion for the quarter, compared to analyst estimates of $3.78 billion. Textron had a net margin of 6.01% and a return on equity of 14.92%. The company’s revenue for the quarter was down 7.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.60 EPS. Equities research analysts anticipate that Textron Inc. will post 6.12 earnings per share for the current year.

Textron Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.11%. The ex-dividend date of this dividend is Friday, March 14th. Textron’s payout ratio is presently 1.86%.

Insider Buying and Selling at Textron

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. Corporate insiders own 1.70% of the company’s stock.

Analyst Ratings Changes

TXT has been the topic of a number of recent analyst reports. Citigroup decreased their price objective on shares of Textron from $118.00 to $111.00 and set a “buy” rating on the stock in a research note on Tuesday, January 21st. Vertical Research raised Textron from a “hold” rating to a “buy” rating and set a $91.00 target price on the stock in a report on Monday, January 6th. Morgan Stanley lowered their price target on Textron from $86.00 to $82.00 and set an “equal weight” rating for the company in a report on Thursday, January 23rd. TD Cowen raised Textron to a “hold” rating in a research note on Monday. Finally, Susquehanna lowered their target price on Textron from $100.00 to $90.00 and set a “positive” rating for the company in a research note on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Textron presently has an average rating of “Moderate Buy” and a consensus price target of $93.45.

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.