Primecap Management Co. CA Lowers Stock Position in Textron Inc. (NYSE:TXT)

Primecap Management Co. CA lowered its position in Textron Inc. (NYSE:TXT) by 0.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,375,995 shares of the aerospace company’s stock after selling 18,205 shares during the quarter. Primecap Management Co. CA’s holdings in Textron were worth $432,338,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Boston Partners lifted its stake in shares of Textron by 2.0% in the 4th quarter. Boston Partners now owns 7,016,363 shares of the aerospace company’s stock valued at $564,235,000 after purchasing an additional 139,927 shares in the last quarter. Victory Capital Management Inc. lifted its position in Textron by 3.4% during the third quarter. Victory Capital Management Inc. now owns 6,756,439 shares of the aerospace company’s stock valued at $527,948,000 after buying an additional 220,891 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Textron by 11.6% in the third quarter. JPMorgan Chase & Co. now owns 5,745,108 shares of the aerospace company’s stock worth $448,923,000 after acquiring an additional 596,214 shares in the last quarter. LSV Asset Management increased its position in shares of Textron by 15.9% in the fourth quarter. LSV Asset Management now owns 3,793,047 shares of the aerospace company’s stock worth $305,037,000 after acquiring an additional 521,276 shares in the last quarter. Finally, Northern Trust Corp raised its stake in shares of Textron by 4.0% in the 3rd quarter. Northern Trust Corp now owns 1,757,258 shares of the aerospace company’s stock valued at $137,312,000 after acquiring an additional 66,999 shares during the period. Hedge funds and other institutional investors own 86.03% of the company’s stock.

Insiders Place Their Bets

In other news, Director Kathleen M. Bader sold 11,870 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $87.91, for a total value of $1,043,491.70. Following the completion of the sale, the director now directly owns 3,756 shares in the company, valued at approximately $330,189.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.70% of the stock is currently owned by company insiders.

Textron Stock Up 1.0 %

Shares of Textron stock traded up $0.88 on Friday, hitting $88.63. 548,236 shares of the company’s stock traded hands, compared to its average volume of 1,176,451. Textron Inc. has a 52-week low of $61.27 and a 52-week high of $97.33. The company has a quick ratio of 0.84, a current ratio of 1.81 and a debt-to-equity ratio of 0.46. The stock has a market cap of $16.90 billion, a P/E ratio of 18.94, a PEG ratio of 1.41 and a beta of 1.32. The firm’s 50-day moving average is $91.49 and its 200 day moving average is $85.30.

Textron (NYSE:TXT) last announced its quarterly earnings data on Thursday, April 25th. The aerospace company reported $1.20 earnings per share for the quarter, missing the consensus estimate of $1.28 by ($0.08). The company had revenue of $3.14 billion for the quarter, compared to analyst estimates of $3.29 billion. Textron had a return on equity of 16.30% and a net margin of 6.75%. Textron’s revenue was up 3.7% on a year-over-year basis. During the same period in the prior year, the business earned $1.05 earnings per share. Equities analysts anticipate that Textron Inc. will post 6.27 earnings per share for the current year.

Textron Dividend Announcement

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

Wall Street Analyst Weigh In

TXT has been the subject of several recent research reports. The Goldman Sachs Group increased their price target on Textron from $103.00 to $120.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Citigroup increased their target price on Textron from $104.00 to $111.00 and gave the company a “buy” rating in a research note on Thursday, April 4th. StockNews.com lowered Textron from a “strong-buy” rating to a “buy” rating in a research report on Friday, April 26th. Susquehanna lowered their price objective on shares of Textron from $110.00 to $105.00 and set a “positive” rating for the company in a research report on Friday, April 26th. Finally, Bank of America raised shares of Textron from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $85.00 to $105.00 in a research report on Friday, March 8th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Textron presently has an average rating of “Moderate Buy” and an average target price of $95.63.

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.