Envestnet Portfolio Solutions Inc. Decreases Holdings in Textron Inc. (NYSE:TXT)

Envestnet Portfolio Solutions Inc. trimmed its holdings in shares of Textron Inc. (NYSE:TXT) by 31.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,867 shares of the aerospace company’s stock after selling 5,514 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Textron were worth $908,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the business. True Wealth Design LLC acquired a new stake in shares of Textron during the third quarter worth about $26,000. SBI Securities Co. Ltd. acquired a new stake in shares of Textron during the fourth quarter worth about $31,000. Truvestments Capital LLC acquired a new stake in shares of Textron during the third quarter worth about $43,000. Eastern Bank acquired a new stake in shares of Textron during the fourth quarter worth about $42,000. Finally, Golden State Wealth Management LLC acquired a new stake in shares of Textron during the fourth quarter worth about $63,000. 86.03% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Textron

In related news, VP Mark S. Bamford sold 5,451 shares of the company’s 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 sale, the vice president now owns 18,223 shares of the company’s stock, valued at approximately $1,324,447.64. This represents a 23.03 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.70% of the stock is owned by corporate insiders.

Textron Stock Performance

NYSE TXT opened at $73.07 on Monday. The business’s 50 day moving average is $74.88 and its two-hundred day moving average is $80.60. The stock 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 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 12-month low of $70.14 and a 12-month high of $97.34.

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

Textron Dividend Announcement

The business also recently announced 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. This represents a $0.08 dividend on an annualized basis and a yield of 0.11%. The ex-dividend date is Friday, March 14th. Textron’s payout ratio is currently 1.86%.

Analysts Set New Price Targets

A number of analysts have recently commented on TXT shares. TD Cowen upgraded Textron to a “hold” rating in a research report on Monday, February 24th. Susquehanna dropped their price target on Textron from $100.00 to $90.00 and set a “positive” rating on the stock in a research report on Wednesday, January 8th. Bank of America cut Textron from a “buy” rating to a “neutral” rating and dropped their price target for the company from $110.00 to $85.00 in a research report on Friday, January 24th. Morgan Stanley dropped their price target on Textron from $86.00 to $82.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 23rd. Finally, Barclays dropped their price target on Textron from $104.00 to $95.00 and set an “overweight” rating on the stock in a research report on Monday, December 23rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $93.45.

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.