Xponance Inc. trimmed its holdings in shares of Textron Inc. (NYSE:TXT – Free Report) by 1.8% in the 4th quarter, according to its most recent disclosure with the SEC. The fund 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 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in TXT. Boston Partners increased its stake in Textron by 4.7% during the 4th quarter. Boston Partners now owns 7,483,692 shares of the aerospace company’s stock valued at $572,465,000 after purchasing an additional 333,127 shares in the last quarter. Brandes Investment Partners LP increased its position in shares of Textron by 19.4% during the fourth quarter. Brandes Investment Partners LP now owns 1,859,703 shares of the aerospace company’s stock valued at $142,249,000 after acquiring an additional 302,712 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Textron by 0.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,678,854 shares of the aerospace company’s stock worth $128,416,000 after acquiring an additional 7,610 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Textron by 7.9% in the 4th 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 acquiring an additional 104,982 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in Textron during the 4th quarter valued at $41,451,000. 86.03% of the stock is owned by institutional investors.
Textron Price Performance
NYSE TXT opened at $73.07 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.84 and a current ratio of 1.76. The business’s fifty day moving average is $74.88 and its 200 day moving average is $80.71. The company has a market capitalization 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 Inc. has a fifty-two week low of $70.14 and a fifty-two week high of $97.34.
Textron Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be paid a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.11%. The ex-dividend date is Friday, March 14th. Textron’s dividend payout ratio (DPR) is 1.86%.
Insider Buying and Selling
In other news, VP Mark S. Bamford sold 5,451 shares of the business’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $72.68, for a total value of $396,178.68. Following the transaction, the vice president now directly owns 18,223 shares in the company, valued at $1,324,447.64. The trade was a 23.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.70% of the stock is currently owned by insiders.
Analyst Upgrades and Downgrades
A number of brokerages have recently issued reports on TXT. Robert W. Baird lowered their price target on Textron from $100.00 to $92.00 and set an “outperform” rating on the stock in a report on Thursday, January 23rd. Morgan Stanley lowered their target price on shares of Textron from $86.00 to $82.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 23rd. Vertical Research upgraded shares of Textron from a “hold” rating to a “buy” rating and set a $91.00 price target for the company in a research note on Monday, January 6th. Citigroup decreased their price objective on shares of Textron from $118.00 to $111.00 and set a “buy” rating for the company in a report on Tuesday, January 21st. Finally, 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 report on Thursday, January 16th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Textron presently has a consensus rating of “Moderate Buy” and an average price target of $93.45.
Check Out Our Latest Report on Textron
Textron 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.
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