Vinva Investment Management Ltd Sells 67,757 Shares of Textron Inc. (NYSE:TXT)

Vinva Investment Management Ltd reduced its stake in shares of Textron Inc. (NYSE:TXT) by 93.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,689 shares of the aerospace company’s stock after selling 67,757 shares during the quarter. Vinva Investment Management Ltd’s holdings in Textron were worth $359,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Merit Financial Group LLC boosted its stake in shares of Textron by 5.9% during the fourth quarter. Merit Financial Group LLC now owns 4,784 shares of the aerospace company’s stock valued at $366,000 after purchasing an additional 265 shares during the period. Empowered Funds LLC boosted its stake 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 valued at $1,540,000 after purchasing an additional 4,480 shares during the period. Franklin Resources Inc. boosted its stake in shares of Textron by 10.3% during the third quarter. Franklin Resources Inc. now owns 164,029 shares of the aerospace company’s stock valued at $14,505,000 after purchasing an additional 15,294 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Textron by 44.6% during 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 purchasing an additional 5,367 shares during the period. Finally, Todd Asset Management LLC boosted its stake in shares of Textron by 1.8% during the fourth quarter. Todd Asset Management LLC now owns 470,292 shares of the aerospace company’s stock valued at $35,973,000 after purchasing an additional 8,198 shares during the period. 86.03% of the stock is owned by hedge funds and other institutional investors.

Textron Stock Performance

Shares of Textron stock opened at $73.07 on Friday. The company has a market capitalization of $13.27 billion, a PE ratio of 16.95, a P/E/G ratio of 1.18 and a beta of 1.27. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.84 and a current ratio of 1.76. The company has a 50-day simple moving average of $74.88 and a two-hundred day simple moving average of $80.71. Textron Inc. has a one year low of $70.14 and a one year high of $97.34.

Textron (NYSE:TXT) last posted its quarterly earnings data 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. Textron had a net margin of 6.01% and a return on equity of 14.92%. The firm had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $3.78 billion. During the same quarter in the prior year, the company posted $1.60 earnings per share. The company’s revenue for the quarter was down 7.2% compared to the same quarter last year. Research analysts expect that Textron Inc. will post 6.12 EPS for the current fiscal year.

Textron Announces Dividend

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 issued a $0.02 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.08 annualized dividend and a yield of 0.11%. Textron’s dividend payout ratio (DPR) is presently 1.86%.

Insider Buying and Selling

In other Textron 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 in the company, valued at approximately $1,324,447.64. This represents a 23.03 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 1.70% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on TXT. Barclays lowered their target price on shares of Textron from $104.00 to $95.00 and set an “overweight” rating for the company in a research note on Monday, December 23rd. Vertical Research raised shares of Textron from a “hold” rating to a “buy” rating and set a $91.00 price objective for the company in a research note on Monday, January 6th. TD Cowen raised shares of Textron to a “hold” rating in a research note on Monday, February 24th. Susquehanna lowered their price objective on shares of Textron from $100.00 to $90.00 and set a “positive” rating for the company in a research note on Wednesday, January 8th. Finally, Bank of America lowered shares of Textron from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $110.00 to $85.00 in a research note on Friday, January 24th. One 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.com, the stock presently has a consensus 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.