Textron Inc. (NYSE:TXT) Holdings Lowered by Barington Capital Group L.P.

Barington Capital Group L.P. decreased its holdings in Textron Inc. (NYSE:TXT) by 44.5% in the fourth quarter, Holdings Channel.com reports. The firm owned 31,225 shares of the aerospace company’s stock after selling 25,000 shares during the period. Textron makes up approximately 2.2% of Barington Capital Group L.P.’s investment portfolio, making the stock its 9th biggest position. Barington Capital Group L.P.’s holdings in Textron were worth $2,388,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in TXT. Two Sigma Securities LLC lifted its stake in shares of Textron by 1,050.3% in the 4th quarter. Two Sigma Securities LLC now owns 8,553 shares of the aerospace company’s stock valued at $654,000 after acquiring an additional 9,453 shares during the last quarter. Integrated Wealth Concepts LLC boosted its stake in shares of Textron by 11.2% during the fourth quarter. Integrated Wealth Concepts LLC now owns 9,863 shares of the aerospace company’s stock valued at $754,000 after purchasing an additional 991 shares during the period. Adage Capital Partners GP L.L.C. increased its stake in shares of Textron by 88.9% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 550,976 shares of the aerospace company’s stock worth $42,144,000 after buying an additional 259,350 shares during the period. Syon Capital LLC boosted its position in Textron by 4.5% during the 4th quarter. Syon Capital LLC now owns 3,538 shares of the aerospace company’s stock valued at $271,000 after buying an additional 153 shares during the period. Finally, Altrinsic Global Advisors LLC bought a new position in shares of Textron during the fourth quarter valued at about $5,871,000. Institutional investors own 86.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. JPMorgan Chase & Co. lowered their price target on Textron from $90.00 to $88.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Bank of America cut shares of Textron from a “buy” rating to a “neutral” rating and cut their price target for the company from $110.00 to $85.00 in a report on Friday, January 24th. Robert W. Baird dropped their target price 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. Morgan Stanley lowered their price objective on shares of Textron from $82.00 to $71.00 and set an “equal weight” rating for the company in a report on Friday, April 11th. Finally, TD Cowen raised Textron to a “hold” rating in a research report on Monday, February 24th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $89.30.

Insiders Place Their Bets

In other Textron news, VP Mark S. Bamford sold 5,451 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $72.68, for a total transaction 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 trade represents a 23.03 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.70% of the company’s stock.

Textron Stock Up 1.0 %

Shares of Textron stock opened at $68.59 on Friday. Textron Inc. has a twelve month low of $57.70 and a twelve month high of $94.57. 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 company’s 50 day moving average is $70.22 and its 200 day moving average is $77.10. The company has a market cap of $12.46 billion, a price-to-earnings ratio of 15.91, a price-to-earnings-growth ratio of 1.18 and a beta of 1.06.

Textron (NYSE:TXT) last released its quarterly earnings results on Thursday, April 24th. The aerospace company reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.17 by $0.11. Textron had a return on equity of 14.92% and a net margin of 6.01%. The firm had revenue of $3.31 billion for the quarter, compared to the consensus estimate of $3.26 billion. Research analysts anticipate that Textron Inc. will post 6.12 EPS for the current year.

Textron Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.12%. The ex-dividend date is Friday, June 13th. Textron’s dividend payout ratio is presently 1.86%.

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.