Textron Inc. (NYSE:TXT) Shares Sold by Huntington National Bank

Huntington National Bank cut its holdings in shares of Textron Inc. (NYSE:TXT) by 28.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,722 shares of the aerospace company’s stock after selling 699 shares during the period. Huntington National Bank’s holdings in Textron were worth $132,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Public Sector Pension Investment Board boosted its stake in shares of Textron by 8.5% in the third quarter. Public Sector Pension Investment Board now owns 7,694 shares of the aerospace company’s stock worth $682,000 after buying an additional 600 shares during the last quarter. Rockefeller Capital Management L.P. grew its stake in shares of Textron by 4.2% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 23,414 shares of the aerospace company’s stock worth $2,075,000 after purchasing an additional 941 shares during the period. Benjamin Edwards Inc. purchased a new position in shares of Textron during the 3rd quarter valued at approximately $417,000. Jacobs Levy Equity Management Inc. acquired a new position in shares of Textron in the 3rd quarter valued at $828,000. Finally, Integrated Wealth Concepts LLC boosted its holdings in Textron by 39.2% during the third quarter. Integrated Wealth Concepts LLC now owns 8,872 shares of the aerospace company’s stock worth $786,000 after buying an additional 2,500 shares in the last quarter. 86.03% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

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 transaction, the vice president now directly owns 18,223 shares in the company, valued at approximately $1,324,447.64. This represents 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 company insiders.

Textron Price Performance

Shares of NYSE TXT opened at $60.54 on Friday. The firm has a 50-day simple moving average of $73.49 and a 200-day simple moving average of $79.56. 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 stock has a market capitalization of $11.00 billion, a price-to-earnings ratio of 14.05, a price-to-earnings-growth ratio of 1.18 and a beta of 1.06. Textron Inc. has a 52 week low of $60.38 and a 52 week high of $97.34.

Textron (NYSE:TXT) last released its quarterly earnings data on Wednesday, January 22nd. The aerospace company reported $1.34 EPS for the quarter, beating analysts’ consensus estimates of $1.27 by $0.07. The company had revenue of $3.61 billion during 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 quarterly revenue was down 7.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.60 EPS. On average, equities analysts predict that Textron Inc. will post 6.12 earnings per share for the current fiscal year.

Textron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were issued a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.13%. The ex-dividend date of this dividend was Friday, March 14th. Textron’s dividend payout ratio is currently 1.86%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on TXT. Morgan Stanley decreased 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. Susquehanna lowered 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 lowered Textron from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $110.00 to $85.00 in a report on Friday, January 24th. Barclays reduced their target price on Textron from $104.00 to $95.00 and set an “overweight” rating for the company in a research note on Monday, December 23rd. Finally, Robert W. Baird dropped their price target on shares of Textron from $100.00 to $92.00 and set an “outperform” rating on the stock in a research note 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’s stock. Based on data from MarketBeat, the stock currently 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.