Textron Inc. (NYSE:TXT) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. reduced its stake in Textron Inc. (NYSE:TXT) by 0.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 5,877,256 shares of the aerospace company’s stock after selling 46,372 shares during the quarter. JPMorgan Chase & Co. owned 3.17% of Textron worth $449,551,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. True Wealth Design LLC acquired a new position in Textron during the third quarter worth $26,000. SBI Securities Co. Ltd. purchased a new stake in shares of Textron in the 4th quarter valued at $31,000. Eastern Bank acquired a new position in Textron during the 4th quarter worth about $42,000. Golden State Wealth Management LLC purchased a new position in Textron during the 4th quarter valued at about $63,000. Finally, McClarren Financial Advisors Inc. acquired a new position in Textron in the 4th quarter valued at about $68,000. Hedge funds and other institutional investors own 86.03% of the company’s stock.

Insider Buying and Selling at Textron

In related news, VP Mark S. Bamford sold 5,451 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $72.68, for a total transaction of $396,178.68. Following the completion of the sale, the vice president now directly owns 18,223 shares of the company’s stock, valued at $1,324,447.64. This trade represents a 23.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on TXT. Vertical Research raised shares of Textron from a “hold” rating to a “buy” rating and set a $91.00 price objective for the company in a research note on Monday, January 6th. Susquehanna decreased their price target on shares of Textron from $100.00 to $90.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. Barclays cut their price objective on Textron from $104.00 to $95.00 and set an “overweight” rating on the stock in a research report on Monday, December 23rd. Morgan Stanley decreased their target price on Textron from $86.00 to $82.00 and set an “equal weight” rating for the company in a report on Thursday, January 23rd. Finally, TD Cowen upgraded Textron to a “hold” rating in a report on Monday, February 24th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $93.45.

Textron Stock Performance

Shares of TXT opened at $72.92 on Friday. The company’s 50 day simple moving average is $74.49 and its 200-day simple moving average is $80.21. Textron Inc. has a 12-month low of $70.14 and a 12-month high of $97.34. The firm has a market cap of $13.24 billion, a PE ratio of 16.92, a price-to-earnings-growth ratio of 1.18 and a beta of 1.27. The company has a current ratio of 1.76, a quick ratio of 0.84 and a debt-to-equity ratio of 0.45.

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

Textron Dividend Announcement

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

Textron Company 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.