Mark S. Bamford Sells 5,451 Shares of Textron Inc. (NYSE:TXT) Stock

Textron Inc. (NYSE:TXT) 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 sale, the vice president now directly owns 18,223 shares in the company, 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 the SEC website.

Textron Trading Down 0.3 %

Textron stock opened at $72.99 on Thursday. The company has a quick ratio of 0.84, a current ratio of 1.76 and a debt-to-equity ratio of 0.45. Textron Inc. has a 12 month low of $71.67 and a 12 month high of $97.33. The company’s fifty day simple moving average is $75.83 and its 200-day simple moving average is $82.45. The stock has a market cap of $13.33 billion, a P/E ratio of 16.94, a P/E/G ratio of 1.18 and a beta of 1.27.

Textron (NYSE:TXT) last issued its earnings results 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 return on equity of 14.92% and a net margin of 6.01%. The firm had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $3.78 billion. During the same quarter in the previous year, the company posted $1.60 earnings per share. The business’s quarterly revenue was down 7.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Textron Inc. will post 6.12 EPS 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 given a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.11%. Textron’s payout ratio is presently 1.86%.

Institutional Trading of Textron

Several large investors have recently added to or reduced their stakes in the business. Merit Financial Group LLC lifted its stake in shares of Textron by 5.9% in the 4th 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 holdings in Textron by 28.6% during the fourth 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 position in shares of Textron by 10.3% in the third quarter. Franklin Resources Inc. now owns 164,029 shares of the aerospace company’s stock worth $14,505,000 after buying an additional 15,294 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Textron by 44.6% during the 4th 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 holdings in shares of Textron by 1.8% during the 4th quarter. Todd Asset Management LLC now owns 470,292 shares of the aerospace company’s stock valued at $35,973,000 after acquiring an additional 8,198 shares during the last quarter. 86.03% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

TXT has been the topic of a number of analyst reports. Bank of America cut Textron from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $110.00 to $85.00 in a research note on Friday, January 24th. JPMorgan Chase & Co. dropped their target price on shares of Textron from $90.00 to $88.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Susquehanna reduced 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. Morgan Stanley lowered their price objective on shares of Textron from $86.00 to $82.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 23rd. Finally, Robert W. Baird reduced their target price on Textron from $100.00 to $92.00 and set an “outperform” rating for the company in a report on Thursday, January 23rd. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Textron currently has an average rating of “Moderate Buy” and an average price target of $93.45.

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.