AMJ Financial Wealth Management Cuts Stock Position in Textron Inc. (NYSE:TXT)

AMJ Financial Wealth Management decreased its position in shares of Textron Inc. (NYSE:TXT) by 24.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 70,127 shares of the aerospace company’s stock after selling 22,547 shares during the period. AMJ Financial Wealth Management’s holdings in Textron were worth $5,364,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. lifted its position in shares of Textron by 0.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,678,854 shares of the aerospace company’s stock worth $128,416,000 after purchasing an additional 7,610 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Textron by 7.9% during the 4th quarter. Bank of New York Mellon Corp now owns 1,428,377 shares of the aerospace company’s stock worth $109,257,000 after buying an additional 104,982 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its holdings in Textron by 3.3% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 511,770 shares of the aerospace company’s stock worth $39,145,000 after buying an additional 16,359 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its position in Textron by 0.9% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 475,420 shares of the aerospace company’s stock valued at $36,365,000 after buying an additional 4,381 shares during the period. Finally, Todd Asset Management LLC grew its stake in shares of Textron by 1.8% in 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 in the last quarter. 86.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, VP Mark S. Bamford sold 5,451 shares of Textron stock in a transaction on Monday, February 24th. The shares were 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 of the company’s stock, valued at $1,324,447.64. The trade was a 23.03 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 1.70% of the company’s stock.

Textron Trading Down 1.0 %

Shares of Textron stock opened at $73.95 on Tuesday. The company has a fifty day simple moving average of $75.68 and a 200-day simple moving average of $82.17. Textron Inc. has a 12-month low of $71.67 and a 12-month high of $97.33. The company has a current ratio of 1.76, a quick ratio of 0.84 and a debt-to-equity ratio of 0.45. The stock has a market cap of $13.50 billion, a price-to-earnings ratio of 17.16, a PEG 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 (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $3.78 billion. During the same quarter in the prior year, the firm posted $1.60 earnings per share. Textron’s revenue for the quarter was down 7.2% on a year-over-year basis. On average, equities analysts forecast that Textron Inc. will post 6.12 EPS for the current fiscal year.

Textron Announces Dividend

The company also recently disclosed 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. 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 is currently 1.86%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on TXT shares. TD Cowen upgraded Textron to a “hold” rating in a report on Monday, February 24th. Morgan Stanley reduced their price target on Textron from $86.00 to $82.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 23rd. Bank of America downgraded Textron from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $110.00 to $85.00 in a research report on Friday, January 24th. Robert W. Baird reduced their target price on shares of Textron from $100.00 to $92.00 and set an “outperform” rating on the stock in a report on Thursday, January 23rd. Finally, Barclays lowered their price target on shares of Textron from $104.00 to $95.00 and set an “overweight” rating for the company in a report on Monday, December 23rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat, Textron presently has a consensus rating of “Moderate Buy” and a consensus target price 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.