Amundi Sells 6,839 Shares of Textron Inc. (NYSE:TXT)

Amundi trimmed its position in shares of Textron Inc. (NYSE:TXT) by 6.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 100,092 shares of the aerospace company’s stock after selling 6,839 shares during the quarter. Amundi owned about 0.05% of Textron worth $7,607,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its stake in Textron by 0.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,678,854 shares of the aerospace company’s stock valued at $128,416,000 after acquiring an additional 7,610 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Textron by 7.9% during the 4th quarter. Bank of New York Mellon Corp now owns 1,428,377 shares of the aerospace company’s stock valued at $109,257,000 after purchasing an additional 104,982 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Textron in the 4th quarter worth $41,451,000. Robeco Institutional Asset Management B.V. grew its stake in Textron by 3.3% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 511,770 shares of the aerospace company’s stock worth $39,145,000 after buying an additional 16,359 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its position in Textron by 0.9% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 475,420 shares of the aerospace company’s stock valued at $36,365,000 after buying an additional 4,381 shares in the last quarter. 86.03% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on TXT. Vertical Research upgraded shares of Textron from a “hold” rating to a “buy” rating and set a $91.00 price objective on the stock in a report on Monday, January 6th. Bank of America lowered shares of Textron from a “buy” rating to a “neutral” rating and cut their price target for the company from $110.00 to $85.00 in a research note on Friday, January 24th. JPMorgan Chase & Co. lowered their price objective on shares of Textron from $90.00 to $88.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Barclays cut their target price on Textron from $104.00 to $95.00 and set an “overweight” rating on the stock in a research report on Monday, December 23rd. Finally, 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 research report on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Textron has a consensus rating of “Moderate Buy” and a consensus target price of $93.45.

Textron Stock Up 1.9 %

Shares of TXT stock opened at $73.38 on Friday. 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 Inc. has a twelve month low of $70.14 and a twelve month high of $97.34. The stock has a 50 day moving average of $75.06 and a 200 day moving average of $81.22. The stock has a market cap of $13.33 billion, a P/E ratio of 17.02, a P/E/G ratio of 1.18 and a beta of 1.26.

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

Textron Dividend Announcement

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

Insider Buying and Selling

In related news, VP Mark S. Bamford sold 5,451 shares of the business’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $72.68, for a total value of $396,178.68. Following the completion of the sale, the vice president now owns 18,223 shares of the company’s stock, valued at approximately $1,324,447.64. The trade was a 23.03 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.70% of the stock is currently owned by insiders.

About Textron

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.