Vanguard Group Inc. Sells 342,331 Shares of Textron Inc. $TXT

Vanguard Group Inc. lowered its holdings in shares of Textron Inc. (NYSE:TXT) by 1.6% during the 4th quarter, Holdings Channel.com reports. The firm owned 20,542,748 shares of the aerospace company’s stock after selling 342,331 shares during the quarter. Vanguard Group Inc. owned 0.12% of Textron worth $1,790,711,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in TXT. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Textron by 13.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,522 shares of the aerospace company’s stock valued at $1,049,000 after purchasing an additional 1,709 shares during the last quarter. Empowered Funds LLC grew its holdings in shares of Textron by 6.3% during the 1st quarter. Empowered Funds LLC now owns 21,397 shares of the aerospace company’s stock valued at $1,546,000 after purchasing an additional 1,265 shares during the last quarter. Focus Partners Wealth grew its holdings in Textron by 18.0% in the 1st quarter. Focus Partners Wealth now owns 4,814 shares of the aerospace company’s stock worth $348,000 after acquiring an additional 735 shares during the last quarter. Sivia Capital Partners LLC bought a new stake in Textron in the 2nd quarter worth $453,000. Finally, Baird Financial Group Inc. grew its holdings in Textron by 15.3% in the 2nd quarter. Baird Financial Group Inc. now owns 19,171 shares of the aerospace company’s stock worth $1,539,000 after acquiring an additional 2,548 shares during the last quarter. Institutional investors own 86.03% of the company’s stock.

Insider Activity

In other news, EVP Julie G. Duffy sold 19,857 shares of Textron stock in a transaction dated Friday, February 13th. The shares were sold at an average price of $98.70, for a total transaction of $1,959,885.90. Following the sale, the executive vice president owned 37,039 shares of the company’s stock, valued at approximately $3,655,749.30. The trade was a 34.90% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Mark S. Bamford sold 19,808 shares of Textron stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $97.96, for a total transaction of $1,940,391.68. Following the sale, the vice president directly owned 7,872 shares in the company, valued at $771,141.12. The trade was a 71.56% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 304,473 shares of company stock worth $29,976,723. 1.90% of the stock is owned by company insiders.

Textron Trading Up 1.8%

Shares of TXT opened at $89.71 on Thursday. The firm’s 50-day moving average price is $92.07 and its 200-day moving average price is $88.89. The firm has a market capitalization of $15.62 billion, a price-to-earnings ratio of 17.55, a PEG ratio of 1.33 and a beta of 0.97. The company has a current ratio of 1.97, a quick ratio of 0.99 and a debt-to-equity ratio of 0.49. Textron Inc. has a 1-year low of $68.83 and a 1-year high of $101.57.

Textron (NYSE:TXT) last announced its earnings results on Wednesday, January 28th. The aerospace company reported $1.73 earnings per share for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.01). The company had revenue of $4.18 billion for the quarter, compared to the consensus estimate of $4.11 billion. Textron had a net margin of 6.22% and a return on equity of 14.63%. The company’s revenue for the quarter was up 15.6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.34 EPS. Sell-side analysts anticipate that Textron Inc. will post 6.55 EPS for the current year.

Textron Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Friday, June 12th will be paid a dividend of $0.02 per share. The ex-dividend date of this dividend is Friday, June 12th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.1%. Textron’s payout ratio is presently 1.57%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on TXT shares. Morgan Stanley set a $92.00 price target on shares of Textron in a report on Thursday, January 29th. Freedom Capital raised shares of Textron to a “strong-buy” rating in a report on Friday, January 16th. Citigroup raised their price target on shares of Textron from $97.00 to $99.00 and gave the stock a “neutral” rating in a report on Thursday, April 2nd. Jefferies Financial Group cut their price target on shares of Textron from $115.00 to $110.00 and set a “buy” rating on the stock in a report on Tuesday, April 7th. Finally, Susquehanna reissued a “positive” rating and issued a $110.00 price target on shares of Textron in a report on Thursday, January 15th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $98.18.

Textron Profile

Textron Inc is a global, multi-industry manufacturing company headquartered in Providence, Rhode Island. The company designs, manufactures and services a diverse range of products for the aerospace, defense and industrial markets. Textron operates through four primary business segments—Textron Aviation, Bell, Textron Systems and Industrial—each of which serves customers around the world.

Textron Aviation is known for its Cessna and Beechcraft branded business jets and turboprop aircraft, offering models that range from light jets and turboprops to larger cabin aircraft designed for corporate and charter use.