Textron Inc. (NYSE:TXT) Stake Cut by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP lessened its holdings in Textron Inc. (NYSE:TXT) by 1.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,796,148 shares of the aerospace company’s stock after selling 52,369 shares during the quarter. Dimensional Fund Advisors LP owned approximately 1.51% of Textron worth $213,878,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Invesco Ltd. raised its stake in Textron by 17.8% during the fourth quarter. Invesco Ltd. now owns 7,733,335 shares of the aerospace company’s stock worth $591,523,000 after acquiring an additional 1,167,105 shares during the period. Boston Partners raised its position in shares of Textron by 4.7% during the 4th quarter. Boston Partners now owns 7,483,692 shares of the aerospace company’s stock worth $572,465,000 after purchasing an additional 333,127 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Textron by 3.7% in the 4th quarter. Geode Capital Management LLC now owns 4,595,861 shares of the aerospace company’s stock worth $350,619,000 after purchasing an additional 164,964 shares during the last quarter. Brandes Investment Partners LP boosted its position in Textron by 19.4% during the 4th quarter. Brandes Investment Partners LP now owns 1,859,703 shares of the aerospace company’s stock valued at $142,249,000 after purchasing an additional 302,712 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in Textron by 0.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,678,854 shares of the aerospace company’s stock worth $128,416,000 after buying an additional 7,610 shares during the last quarter. 86.03% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Textron news, VP Mark S. Bamford sold 5,451 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $72.68, for a total transaction of $396,178.68. Following the completion of the sale, the vice president now directly owns 18,223 shares of the company’s stock, 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.70% of the stock is currently owned by company insiders.

Textron Stock Performance

NYSE:TXT opened at $65.51 on Wednesday. The company has a 50-day moving average of $70.51 and a 200-day moving average of $77.42. The firm has a market cap of $11.90 billion, a price-to-earnings ratio of 15.20, a price-to-earnings-growth ratio of 1.18 and a beta of 1.06. 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 twelve month low of $57.70 and a twelve month high of $95.86.

Textron (NYSE:TXT) last posted its quarterly earnings results on Wednesday, January 22nd. The aerospace company reported $1.34 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $3.78 billion. During the same quarter in the previous year, the business posted $1.60 earnings per share. The firm’s quarterly revenue was down 7.2% compared to the same quarter last year. Analysts forecast that Textron Inc. will post 6.12 earnings per share for the current fiscal year.

Textron Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were given a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.12%. The ex-dividend date of this dividend was Friday, March 14th. Textron’s dividend payout ratio (DPR) is presently 1.86%.

Analysts Set New Price Targets

Several research firms have recently commented on TXT. Robert W. Baird lowered their price target on shares of Textron from $100.00 to $92.00 and set an “outperform” rating for the company in a research report on Thursday, January 23rd. Citigroup cut their price target on Textron from $111.00 to $107.00 and set a “buy” rating on the stock in a report on Thursday, April 10th. Morgan Stanley decreased their price objective on Textron from $82.00 to $71.00 and set an “equal weight” rating for the company in a report on Friday, April 11th. JPMorgan Chase & Co. cut their target price on Textron from $90.00 to $88.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Finally, Vertical Research raised Textron from a “hold” rating to a “buy” rating and set a $91.00 price target for the company in a research note on Monday, January 6th. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $89.30.

Textron 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.