Xponance Inc. Sells 727 Shares of Textron Inc. (NYSE:TXT)

Xponance Inc. lessened its stake in shares of Textron Inc. (NYSE:TXT) by 1.8% in the 4th quarter, Holdings Channel reports. The firm owned 39,385 shares of the aerospace company’s stock after selling 727 shares during the period. Xponance Inc.’s holdings in Textron were worth $3,013,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Merit Financial Group LLC lifted its position in Textron by 5.9% during the fourth quarter. Merit Financial Group LLC now owns 4,784 shares of the aerospace company’s stock valued at $366,000 after purchasing an additional 265 shares during the last quarter. Empowered Funds LLC raised its position in shares of Textron by 28.6% during the 4th quarter. Empowered Funds LLC now owns 20,132 shares of the aerospace company’s stock valued at $1,540,000 after buying an additional 4,480 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of Textron by 10.3% in the 3rd quarter. Franklin Resources Inc. now owns 164,029 shares of the aerospace company’s stock valued at $14,505,000 after acquiring an additional 15,294 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in Textron by 44.6% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,390 shares of the aerospace company’s stock worth $1,343,000 after acquiring an additional 5,367 shares in the last quarter. Finally, Todd Asset Management LLC increased its stake in Textron by 1.8% during the fourth quarter. Todd Asset Management LLC now owns 470,292 shares of the aerospace company’s stock worth $35,973,000 after acquiring an additional 8,198 shares during the last quarter. Hedge funds and other institutional investors own 86.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Susquehanna dropped their target price on Textron from $100.00 to $90.00 and set a “positive” rating for the company in a report on Wednesday, January 8th. TD Cowen raised shares of Textron to a “hold” rating in a research note on Monday, February 24th. JPMorgan Chase & Co. reduced their target price on shares of Textron from $90.00 to $88.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Morgan Stanley dropped their price target on shares of Textron from $86.00 to $82.00 and set an “equal weight” rating for the company in a research note on Thursday, January 23rd. Finally, Bank of America downgraded shares of Textron from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $110.00 to $85.00 in a research note on Friday, January 24th. One 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. Based on data from MarketBeat, Textron currently has an average rating of “Moderate Buy” and an average target price of $93.45.

Insiders Place Their Bets

In other news, VP Mark S. Bamford sold 5,451 shares of the business’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $72.68, for a total value of $396,178.68. Following the completion of the transaction, the vice president now directly owns 18,223 shares of the company’s stock, valued at approximately $1,324,447.64. The trade was a 23.03 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.70% of the stock is owned by company insiders.

Textron Trading Down 0.6 %

Shares of NYSE TXT opened at $73.07 on Friday. Textron Inc. has a twelve month low of $70.14 and a twelve month high of $97.34. The company has a quick ratio of 0.84, a current ratio of 1.76 and a debt-to-equity ratio of 0.45. The business has a fifty day simple moving average of $74.88 and a two-hundred day simple moving average of $80.71. The firm has a market cap of $13.27 billion, a PE ratio of 16.95, a price-to-earnings-growth ratio of 1.18 and a beta of 1.27.

Textron (NYSE:TXT) last released its quarterly earnings data on Wednesday, January 22nd. The aerospace company reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $0.07. The company had revenue of $3.61 billion during the quarter, compared to analyst estimates of $3.78 billion. Textron had a net margin of 6.01% and a return on equity of 14.92%. The firm’s revenue for the quarter was down 7.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.60 earnings per share. Analysts expect that Textron Inc. will post 6.12 earnings per share for the current fiscal year.

Textron Announces Dividend

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