Victory Capital Management Inc. Lowers Stake in Textron Inc. (NYSE:TXT)

Victory Capital Management Inc. cut its stake in Textron Inc. (NYSE:TXT) by 13.1% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,844,843 shares of the aerospace company’s stock after selling 731,480 shares during the period. Victory Capital Management Inc. owned about 2.61% of Textron worth $370,582,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in TXT. Empirical Finance LLC boosted its stake in shares of Textron by 1.7% during the 3rd quarter. Empirical Finance LLC now owns 7,047 shares of the aerospace company’s stock valued at $624,000 after purchasing an additional 115 shares in the last quarter. Apollon Wealth Management LLC lifted its holdings in Textron by 4.9% in the third quarter. Apollon Wealth Management LLC now owns 2,655 shares of the aerospace company’s stock worth $235,000 after buying an additional 125 shares during the period. Pflug Koory LLC boosted its position in Textron by 0.9% during the 4th quarter. Pflug Koory LLC now owns 13,778 shares of the aerospace company’s stock valued at $1,054,000 after acquiring an additional 125 shares in the last quarter. V Square Quantitative Management LLC grew its holdings in shares of Textron by 5.7% during the 4th quarter. V Square Quantitative Management LLC now owns 2,611 shares of the aerospace company’s stock worth $200,000 after acquiring an additional 141 shares during the period. Finally, Patriot Financial Group Insurance Agency LLC raised its position in shares of Textron by 5.8% in the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 2,977 shares of the aerospace company’s stock worth $228,000 after acquiring an additional 163 shares in the last quarter. Institutional investors own 86.03% of the company’s stock.

Textron Stock Performance

TXT stock opened at $70.26 on Wednesday. The stock’s 50 day simple moving average is $75.54 and its 200 day simple moving average is $82.04. 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 Inc. has a 12-month low of $70.14 and a 12-month high of $97.33. The stock has a market capitalization of $12.83 billion, a PE ratio of 16.30, a price-to-earnings-growth ratio of 1.18 and a beta of 1.27.

Textron (NYSE:TXT) last announced its quarterly earnings results on Wednesday, January 22nd. The aerospace company reported $1.34 earnings per share (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 period in the prior year, the company posted $1.60 earnings per share. The company’s quarterly revenue was down 7.2% on a year-over-year basis. As a group, research analysts forecast that Textron Inc. will post 6.12 earnings per share for the current fiscal year.

Textron Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a dividend of $0.02 per share. 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 payout ratio is 1.86%.

Insider Activity at Textron

In other Textron news, VP Mark S. Bamford sold 5,451 shares of the business’s stock in a transaction on Monday, February 24th. The shares were 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 in the company, valued at approximately $1,324,447.64. The trade was a 23.03 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.70% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms recently weighed in on TXT. Citigroup dropped their price target on Textron from $118.00 to $111.00 and set a “buy” rating on the stock in a research report on Tuesday, January 21st. Susquehanna dropped their target price on shares of Textron from $100.00 to $90.00 and set a “positive” rating on the stock in a report on Wednesday, January 8th. 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. TD Cowen raised shares of Textron to a “hold” rating in a research note on Monday, February 24th. Finally, Robert W. Baird decreased their target price on shares of Textron from $100.00 to $92.00 and set an “outperform” rating for the company in a research note on Thursday, January 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 stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus 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.