Textron Inc. (NYSE:TXT) Shares Sold by Twin Capital Management Inc.

Twin Capital Management Inc. trimmed its holdings in Textron Inc. (NYSE:TXT) by 32.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,246 shares of the aerospace company’s stock after selling 5,760 shares during the quarter. Twin Capital Management Inc.’s holdings in Textron were worth $937,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Invesco Ltd. boosted its holdings 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 buying an additional 1,167,105 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Textron in the 4th quarter worth $41,451,000. Boston Partners grew its holdings in shares of Textron by 4.7% in the 4th quarter. Boston Partners now owns 7,483,692 shares of the aerospace company’s stock worth $572,465,000 after acquiring an additional 333,127 shares during the last quarter. Brandes Investment Partners LP lifted its holdings in shares of Textron by 19.4% during the fourth 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 last quarter. Finally, Wellington Management Group LLP lifted its holdings in shares of Textron by 50.2% during the fourth quarter. Wellington Management Group LLP now owns 603,171 shares of the aerospace company’s stock valued at $46,137,000 after purchasing an additional 201,696 shares during the last quarter. 86.03% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have issued reports on TXT. JPMorgan Chase & Co. cut their price objective on Textron from $90.00 to $88.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Robert W. Baird lowered their price objective on shares of Textron from $100.00 to $92.00 and set an “outperform” rating on the stock in a research report on Thursday, January 23rd. Barclays reduced their target price on Textron from $104.00 to $95.00 and set an “overweight” rating for the company in a report on Monday, December 23rd. TD Cowen raised Textron to a “hold” rating in a research report on Monday, February 24th. Finally, Morgan Stanley dropped their price target on Textron from $86.00 to $82.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $93.45.

Textron Price Performance

NYSE TXT opened at $61.04 on Tuesday. Textron Inc. has a fifty-two week low of $57.70 and a fifty-two week high of $97.34. The stock’s 50-day moving average is $73.14 and its two-hundred day moving average is $79.30. The firm has a market cap of $11.09 billion, a P/E ratio of 14.16, a price-to-earnings-growth ratio of 1.18 and a beta of 1.06. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.76 and a quick ratio of 0.84.

Textron (NYSE:TXT) last issued its quarterly earnings data on Wednesday, January 22nd. The aerospace company reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.07. The business had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $3.78 billion. Textron had a return on equity of 14.92% and a net margin of 6.01%. The firm’s revenue was down 7.2% compared to the same quarter last year. During the same period last year, the business earned $1.60 EPS. On average, analysts anticipate that Textron Inc. will post 6.12 earnings per share for the current fiscal year.

Textron Dividend Announcement

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

Insider Buying and Selling

In other news, VP Mark S. Bamford sold 5,451 shares of the firm’s stock in a transaction dated 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 directly owns 18,223 shares of the company’s stock, valued at approximately $1,324,447.64. This trade represents a 23.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.70% of the company’s stock.

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.