Corient Private Wealth LLC Sells 19,085 Shares of Textron Inc. (NYSE:TXT)

Corient Private Wealth LLC cut its position in Textron Inc. (NYSE:TXT) by 35.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 34,941 shares of the aerospace company’s stock after selling 19,085 shares during the period. Corient Private Wealth LLC’s holdings in Textron were worth $2,673,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in TXT. Merit Financial Group LLC boosted its holdings in shares of Textron by 5.9% in the 4th quarter. Merit Financial Group LLC now owns 4,784 shares of the aerospace company’s stock worth $366,000 after acquiring an additional 265 shares in the last quarter. Empowered Funds LLC grew its holdings in shares of Textron by 28.6% during the fourth quarter. Empowered Funds LLC now owns 20,132 shares of the aerospace company’s stock worth $1,540,000 after purchasing an additional 4,480 shares during the last quarter. Franklin Resources Inc. increased its stake in shares of Textron by 10.3% in the third quarter. Franklin Resources Inc. now owns 164,029 shares of the aerospace company’s stock valued at $14,505,000 after buying an additional 15,294 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Textron by 44.6% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,390 shares of the aerospace company’s stock valued at $1,343,000 after buying an additional 5,367 shares during the last quarter. Finally, Todd Asset Management LLC lifted its position in Textron by 1.8% during the 4th quarter. Todd Asset Management LLC now owns 470,292 shares of the aerospace company’s stock worth $35,973,000 after buying an additional 8,198 shares in the last quarter. 86.03% of the stock is owned by institutional investors.

Insider Activity at Textron

In other Textron news, VP Mark S. Bamford sold 5,451 shares of Textron stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $72.68, for a total transaction of $396,178.68. Following the transaction, the vice president now directly owns 18,223 shares in the company, valued at approximately $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 SEC, which is accessible through this link. 1.70% of the stock is owned by corporate insiders.

Textron Trading Down 0.6 %

NYSE:TXT opened at $73.07 on Monday. 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 1-year low of $70.14 and a 1-year high of $97.34. The firm has a market capitalization of $13.27 billion, a price-to-earnings ratio of 16.95, a PEG ratio of 1.18 and a beta of 1.27. The business’s 50-day moving average price is $74.88 and its two-hundred day moving average price is $80.60.

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

Textron Dividend Announcement

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

Wall Street Analyst Weigh In

Several research firms have 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 for the company in a research report on Monday, January 6th. Susquehanna dropped their price objective on shares of Textron from $100.00 to $90.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. Bank of America lowered Textron from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $110.00 to $85.00 in a research report on Friday, January 24th. Citigroup dropped their target price on Textron from $118.00 to $111.00 and set a “buy” rating for the company in a research report on Tuesday, January 21st. Finally, Robert W. Baird decreased their price target on Textron from $100.00 to $92.00 and set an “outperform” rating on the stock in a report on Thursday, January 23rd. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $93.45.

Textron Company 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.