Textron Inc. (NYSE:TXT) VP Mark S. Bamford Sells 5,451 Shares

Textron Inc. (NYSE:TXT) 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 transaction of $396,178.68. Following the transaction, the vice president now owns 18,223 shares in the company, valued at $1,324,447.64. The trade was a 23.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

Textron Trading Down 0.3 %

NYSE TXT traded down $0.25 during trading on Wednesday, reaching $72.99. 920,909 shares of the stock traded hands, compared to its average volume of 1,331,876. Textron Inc. has a fifty-two week low of $71.67 and a fifty-two week high of $97.33. The company has a quick ratio of 0.84, a current ratio of 1.76 and a debt-to-equity ratio of 0.45. The firm has a market cap of $13.33 billion, a price-to-earnings ratio of 16.94, a price-to-earnings-growth ratio of 1.18 and a beta of 1.27. The stock’s 50-day moving average price is $75.89 and its 200 day moving average price is $82.52.

Textron (NYSE:TXT) last announced its quarterly 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 company had revenue of $3.61 billion during 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 firm’s revenue was down 7.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.60 EPS. Analysts predict 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. Stockholders of record on Friday, March 14th will be given a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.11%. Textron’s dividend payout ratio is currently 1.86%.

Hedge Funds Weigh In On Textron

Several institutional investors have recently modified their holdings of the business. Private Advisor Group LLC lifted its stake in Textron by 10.2% in the third quarter. Private Advisor Group LLC now owns 15,948 shares of the aerospace company’s stock valued at $1,413,000 after buying an additional 1,481 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in Textron by 31.3% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,023 shares of the aerospace company’s stock valued at $1,055,000 after acquiring an additional 2,867 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in Textron by 37.9% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 24,620 shares of the aerospace company’s stock worth $2,181,000 after purchasing an additional 6,766 shares during the period. abrdn plc increased its holdings in Textron by 2.9% during the 3rd quarter. abrdn plc now owns 73,417 shares of the aerospace company’s stock worth $6,431,000 after purchasing an additional 2,075 shares in the last quarter. Finally, US Bancorp DE increased its holdings in Textron by 0.8% during the 3rd quarter. US Bancorp DE now owns 25,256 shares of the aerospace company’s stock worth $2,237,000 after purchasing an additional 192 shares in the last quarter. Institutional investors own 86.03% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on TXT shares. Morgan Stanley dropped their price objective on shares of Textron from $86.00 to $82.00 and set an “equal weight” rating for the company in a research report on Thursday, January 23rd. Robert W. Baird cut their price target on Textron from $100.00 to $92.00 and set an “outperform” rating on the stock in a research note on Thursday, January 23rd. Bank of America cut Textron from a “buy” rating to a “neutral” rating and decreased their price target for the company from $110.00 to $85.00 in a report on Friday, January 24th. TD Cowen raised Textron to a “hold” rating in a report on Monday. Finally, Vertical Research raised shares of Textron from a “hold” rating to a “buy” rating and set a $91.00 target price on the stock in a research note on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company has a consensus 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.