Motley Fool Asset Management LLC Trims Stake in Textron Inc. (NYSE:TXT)

Motley Fool Asset Management LLC cut its position in shares of Textron Inc. (NYSE:TXT) by 12.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,177 shares of the aerospace company’s stock after selling 436 shares during the period. Motley Fool Asset Management LLC’s holdings in Textron were worth $255,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. CVA Family Office LLC bought a new stake in Textron in the fourth quarter worth about $29,000. Global Retirement Partners LLC lifted its stake in shares of Textron by 393.9% during the 3rd quarter. Global Retirement Partners LLC now owns 489 shares of the aerospace company’s stock worth $37,000 after acquiring an additional 390 shares during the last quarter. Trust Co. of Vermont purchased a new position in Textron during the 3rd quarter valued at $37,000. Provence Wealth Management Group bought a new position in Textron in the 3rd quarter valued at $39,000. Finally, Morton Brown Family Wealth LLC bought a new position in Textron in the 4th quarter valued at $40,000. 86.03% of the stock is currently owned by institutional investors.

Textron Stock Up 1.9 %

NYSE:TXT opened at $86.51 on Friday. The company’s 50-day simple moving average is $92.10 and its 200-day simple moving average is $83.86. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.03 and a current ratio of 1.66. Textron Inc. has a fifty-two week low of $61.27 and a fifty-two week high of $97.33. The stock has a market capitalization of $16.64 billion, a P/E ratio of 18.49, a P/E/G ratio of 1.33 and a beta of 1.30.

Textron (NYSE:TXT) last posted its earnings results on Thursday, April 25th. The aerospace company reported $1.20 EPS for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.08). Textron had a net margin of 6.75% and a return on equity of 16.30%. The firm had revenue of $3.14 billion for the quarter, compared to analysts’ expectations of $3.29 billion. During the same period in the previous year, the company earned $1.05 EPS. The company’s revenue was up 3.7% on a year-over-year basis. On average, equities analysts anticipate that Textron Inc. will post 6.3 earnings per share for the current fiscal year.

Textron Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be paid a dividend of $0.02 per share. The ex-dividend date is Friday, June 14th. This represents a $0.08 annualized dividend and a yield of 0.09%. Textron’s dividend payout ratio (DPR) is 1.71%.

Analysts Set New Price Targets

TXT has been the topic of a number of research analyst reports. StockNews.com cut shares of Textron from a “strong-buy” rating to a “buy” rating in a report on Friday. UBS Group upped their target price on shares of Textron from $77.00 to $81.00 and gave the stock a “sell” rating in a research note on Friday, January 26th. The Goldman Sachs Group lifted their price target on shares of Textron from $103.00 to $120.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Bank of America upgraded Textron from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $85.00 to $105.00 in a report on Friday, March 8th. Finally, Citigroup upped their target price on Textron from $104.00 to $111.00 and gave the stock a “buy” rating in a report on Thursday, April 4th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Textron presently has an average rating of “Moderate Buy” and an average price target of $95.63.

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.