Textron Inc. (NYSE:TXT) Shares Sold by Motley Fool Asset Management LLC

Motley Fool Asset Management LLC decreased its stake in Textron Inc. (NYSE:TXT) by 12.1% in the 4th quarter, HoldingsChannel reports. The institutional investor 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 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of TXT. New Jersey Better Educational Savings Trust purchased a new position in shares of Textron during the fourth quarter worth about $202,000. Stevens Capital Management LP purchased a new position in Textron during the 4th quarter worth approximately $560,000. Syon Capital LLC increased its position in Textron by 27.9% during the fourth quarter. Syon Capital LLC now owns 3,375 shares of the aerospace company’s stock worth $271,000 after buying an additional 736 shares during the period. Pittenger & Anderson Inc. lifted its stake in Textron by 37.7% in the fourth quarter. Pittenger & Anderson Inc. now owns 7,300 shares of the aerospace company’s stock valued at $587,000 after buying an additional 2,000 shares during the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. grew its position in shares of Textron by 10.6% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 5,747 shares of the aerospace company’s stock worth $462,000 after acquiring an additional 549 shares during the last quarter. 86.03% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. The Goldman Sachs Group raised their price objective on shares of Textron from $103.00 to $120.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Bank of America raised Textron from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $85.00 to $105.00 in a research report on Friday, March 8th. Susquehanna dropped their target price on Textron from $110.00 to $105.00 and set a “positive” rating on the stock in a report on Friday. UBS Group lifted their price objective on shares of Textron from $77.00 to $81.00 and gave the company a “sell” rating in a research report on Friday, January 26th. Finally, StockNews.com cut shares of Textron from a “strong-buy” rating to a “buy” rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $95.63.

Textron Stock Performance

Shares of TXT opened at $86.51 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.66 and a debt-to-equity ratio of 0.41. Textron Inc. has a 52-week low of $61.27 and a 52-week high of $97.33. The company has a 50-day simple moving average of $92.10 and a 200-day simple moving average of $83.86. The company has a market capitalization of $16.64 billion, a PE ratio of 18.49, a P/E/G ratio of 1.33 and a beta of 1.30.

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

Textron Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be issued 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 is presently 1.71%.

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.