Textron Inc. (NYSE:TXT) Shares Sold by Nissay Asset Management Corp Japan ADV

Nissay Asset Management Corp Japan ADV reduced its position in shares of Textron Inc. (NYSE:TXT) by 0.9% during the 4th quarter, HoldingsChannel.com reports. The fund owned 22,909 shares of the aerospace company’s stock after selling 210 shares during the quarter. Nissay Asset Management Corp Japan ADV’s holdings in Textron were worth $1,769,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Pflug Koory LLC raised its position in shares of Textron by 0.9% during the 4th quarter. Pflug Koory LLC now owns 13,778 shares of the aerospace company’s stock valued at $1,054,000 after acquiring an additional 125 shares in the last quarter. V Square Quantitative Management LLC raised its position in shares of Textron by 5.7% during the 4th quarter. V Square Quantitative Management LLC now owns 2,611 shares of the aerospace company’s stock valued at $200,000 after acquiring an additional 141 shares in the last quarter. Syon Capital LLC raised its position in shares of 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 acquiring an additional 153 shares in the last quarter. Patriot Financial Group Insurance Agency LLC raised its position in shares of Textron by 5.8% during the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 2,977 shares of the aerospace company’s stock valued at $228,000 after acquiring an additional 163 shares in the last quarter. Finally, Motley Fool Asset Management LLC raised its position in shares of Textron by 6.3% during the 4th quarter. Motley Fool Asset Management LLC now owns 2,732 shares of the aerospace company’s stock valued at $209,000 after acquiring an additional 163 shares in the last quarter. 86.03% of the stock is owned by institutional investors and hedge funds.

Textron Trading Up 0.9%

NYSE:TXT opened at $76.69 on Friday. Textron Inc. has a 1 year low of $57.70 and a 1 year high of $94.57. The stock has a market cap of $13.84 billion, a price-to-earnings ratio of 17.79, a PEG ratio of 1.18 and a beta of 1.20. The business has a fifty day moving average of $69.99 and a 200-day moving average of $75.61. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.84 and a current ratio of 1.76.

Textron (NYSE:TXT) last announced its earnings results on Thursday, April 24th. The aerospace company reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.17 by $0.11. Textron had a return on equity of 14.92% and a net margin of 6.01%. The business had revenue of $3.31 billion during the quarter, compared to analysts’ expectations of $3.26 billion. During the same quarter last year, the business posted $1.20 earnings per share. The company’s quarterly revenue was up 5.5% on a year-over-year basis. Equities analysts predict that Textron Inc. will post 6.12 earnings per share for the current year.

Textron Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be paid a dividend of $0.02 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.08 annualized dividend and a yield of 0.10%. Textron’s dividend payout ratio is currently 1.81%.

Insider Activity at Textron

In related news, VP Mark S. Bamford sold 5,451 shares of the stock in a transaction 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 completion of the transaction, the vice president now owns 18,223 shares in the company, valued at $1,324,447.64. This trade represents a 23.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.70% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on TXT. Bank of America lowered Textron from a “buy” rating to a “neutral” rating and dropped their price target for the company from $110.00 to $85.00 in a research report on Friday, January 24th. UBS Group increased their target price on Textron from $62.00 to $63.00 and gave the stock a “sell” rating in a research report on Monday, April 28th. Morgan Stanley dropped their target price on Textron from $82.00 to $71.00 and set an “equal weight” rating on the stock in a research report on Friday, April 11th. TD Cowen raised Textron to a “hold” rating in a research report on Monday, February 24th. Finally, Robert W. Baird dropped their target price on Textron from $100.00 to $92.00 and set an “outperform” rating on the stock in a research report on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued 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 $87.70.

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.