Textron Inc. (NYSE:TXT) Shares Sold by Steward Partners Investment Advisory LLC

Steward Partners Investment Advisory LLC cut its holdings in shares of Textron Inc. (NYSE:TXT) by 25.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 32,885 shares of the aerospace company’s stock after selling 11,405 shares during the period. Steward Partners Investment Advisory LLC’s holdings in Textron were worth $2,515,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Mission Wealth Management LP acquired a new position in shares of Textron during the 4th quarter worth approximately $240,000. SBI Securities Co. Ltd. purchased a new position in Textron during the fourth quarter worth approximately $31,000. Jones Financial Companies Lllp boosted its stake in Textron by 72.8% during the fourth quarter. Jones Financial Companies Lllp now owns 3,069 shares of the aerospace company’s stock worth $235,000 after buying an additional 1,293 shares during the last quarter. Metis Global Partners LLC grew its holdings in Textron by 3.3% in the 4th quarter. Metis Global Partners LLC now owns 6,315 shares of the aerospace company’s stock valued at $483,000 after buying an additional 199 shares in the last quarter. Finally, US Bancorp DE increased its stake in shares of Textron by 7.4% in the 4th quarter. US Bancorp DE now owns 27,133 shares of the aerospace company’s stock worth $2,075,000 after acquiring an additional 1,877 shares during the last quarter. Hedge funds and other institutional investors own 86.03% of the company’s stock.

Textron Price Performance

TXT opened at $75.50 on Friday. The stock’s 50-day moving average price is $75.37 and its 200 day moving average price is $81.91. Textron Inc. has a 12-month low of $70.14 and a 12-month high of $97.33. The firm has a market cap of $13.71 billion, a price-to-earnings ratio of 17.52, a PEG 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 issued its quarterly earnings results 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 analysts’ expectations of $3.78 billion. Textron had a net margin of 6.01% and a return on equity of 14.92%. The business’s quarterly revenue was down 7.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.60 earnings per share. As a group, sell-side analysts expect that Textron Inc. will post 6.12 earnings per share for the current year.

Textron Dividend Announcement

The firm also recently declared 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 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 1.86%.

Analyst Ratings Changes

Several research analysts have recently weighed in on TXT shares. Barclays lowered their price target on shares of Textron from $104.00 to $95.00 and set an “overweight” rating on the stock in a research report on Monday, December 23rd. Bank of America cut shares of Textron from a “buy” rating to a “neutral” rating and dropped their price target for the company from $110.00 to $85.00 in a research note on Friday, January 24th. Susquehanna cut their price target on shares of Textron from $100.00 to $90.00 and set a “positive” rating for the company in a report on Wednesday, January 8th. JPMorgan Chase & Co. decreased their price objective on Textron from $90.00 to $88.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Finally, TD Cowen raised Textron to a “hold” rating in a research note on Monday, February 24th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $93.45.

Insider Transactions at Textron

In related news, VP Mark S. Bamford sold 5,451 shares of Textron 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 in the company, valued at approximately $1,324,447.64. This trade represents a 23.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.70% of the company’s stock.

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.