Amalgamated Bank Reduces Stock Holdings in Textron Inc. (NYSE:TXT)

Amalgamated Bank cut its holdings in Textron Inc. (NYSE:TXT) by 3.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,599 shares of the aerospace company’s stock after selling 1,332 shares during the period. Amalgamated Bank’s holdings in Textron were worth $2,723,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in TXT. Bank of New York Mellon Corp lifted its holdings in shares of Textron by 7.9% in the fourth quarter. Bank of New York Mellon Corp now owns 1,428,377 shares of the aerospace company’s stock valued at $109,257,000 after purchasing an additional 104,982 shares in the last quarter. Blackhawk Capital Partners LLC. lifted its holdings in Textron by 41.9% in the 4th quarter. Blackhawk Capital Partners LLC. now owns 3,263 shares of the aerospace company’s stock worth $250,000 after buying an additional 963 shares in the last quarter. Paradigm Asset Management Co. LLC grew its holdings in Textron by 2.8% during the 4th quarter. Paradigm Asset Management Co. LLC now owns 11,200 shares of the aerospace company’s stock worth $857,000 after acquiring an additional 300 shares in the last quarter. Elk River Wealth Management LLC lifted its position in shares of Textron by 0.6% during the fourth quarter. Elk River Wealth Management LLC now owns 58,830 shares of the aerospace company’s stock worth $4,501,000 after purchasing an additional 379 shares during the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund increased its holdings in Textron by 79.5% in the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 9,956 shares of the aerospace company’s stock valued at $762,000 after buying an additional 4,409 shares during the last quarter. 86.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently issued reports on TXT. Barclays dropped their price target on Textron from $104.00 to $95.00 and set an “overweight” rating on the stock in a research report on Monday, December 23rd. Vertical Research raised shares of Textron from a “hold” rating to a “buy” rating and set a $91.00 target price on the stock in a report on Monday, January 6th. Morgan Stanley dropped their price target on Textron from $86.00 to $82.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 23rd. TD Cowen upgraded Textron to a “hold” rating in a research note on Monday, February 24th. Finally, Bank of America lowered shares of Textron from a “buy” rating to a “neutral” rating and reduced their target price for the company from $110.00 to $85.00 in a research note on Friday, January 24th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $93.45.

Insider Transactions at Textron

In other Textron news, VP Mark S. Bamford sold 5,451 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $72.68, for a total transaction of $396,178.68. Following the sale, the vice president now owns 18,223 shares of the company’s stock, valued at $1,324,447.64. This represents a 23.03 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.70% of the stock is owned by company insiders.

Textron Stock Up 2.1 %

TXT opened at $74.76 on Friday. The business has a 50-day moving average of $75.73 and a 200-day moving average of $82.29. Textron Inc. has a fifty-two week low of $71.67 and a fifty-two week high of $97.33. The company has a market capitalization of $13.65 billion, a PE ratio of 17.34, a price-to-earnings-growth ratio of 1.18 and a beta of 1.27. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.76 and a quick ratio of 0.84.

Textron (NYSE:TXT) last announced its quarterly earnings data on Wednesday, January 22nd. The aerospace company reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.07. The business had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $3.78 billion. Textron had a net margin of 6.01% and a return on equity of 14.92%. Textron’s quarterly revenue was down 7.2% on a year-over-year basis. During the same quarter last year, the company posted $1.60 earnings per share. Equities research analysts forecast that Textron Inc. will post 6.12 EPS for the current fiscal year.

Textron Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a $0.02 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.08 dividend on an annualized basis and a yield of 0.11%. Textron’s dividend payout ratio (DPR) is presently 1.86%.

About Textron

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.