Los Angeles Capital Management LLC Sells 116,615 Shares of Textron Inc. (NYSE:TXT)

Los Angeles Capital Management LLC reduced its stake in Textron Inc. (NYSE:TXT) by 41.7% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 162,721 shares of the aerospace company’s stock after selling 116,615 shares during the quarter. Los Angeles Capital Management LLC owned 0.09% of Textron worth $12,447,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. True Wealth Design LLC bought a new position in Textron during the third quarter worth about $26,000. Capital Performance Advisors LLP purchased a new stake in shares of Textron during the 3rd quarter valued at approximately $42,000. Eastern Bank bought a new position in Textron in the 4th quarter worth approximately $42,000. Truvestments Capital LLC purchased a new position in Textron in the 3rd quarter valued at approximately $43,000. Finally, Venturi Wealth Management LLC raised its holdings in Textron by 69.5% during the 3rd quarter. Venturi Wealth Management LLC now owns 566 shares of the aerospace company’s stock valued at $50,000 after acquiring an additional 232 shares during the period. 86.03% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Textron news, VP Mark S. Bamford sold 5,451 shares of the stock in a transaction that occurred 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 transaction, 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.70% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have recently commented on TXT shares. JPMorgan Chase & Co. cut their price target on Textron from $90.00 to $88.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Bank of America lowered Textron from a “buy” rating to a “neutral” rating and reduced their target price for the company from $110.00 to $85.00 in a report on Friday, January 24th. Robert W. Baird lowered their price target 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. Barclays cut their price objective on shares of Textron from $104.00 to $95.00 and set an “overweight” rating for the company in a research report on Monday, December 23rd. Finally, Citigroup decreased their target price on shares of Textron from $118.00 to $111.00 and set a “buy” rating on the stock in a report on Tuesday, January 21st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $93.45.

Textron Price Performance

TXT stock opened at $72.99 on Thursday. The firm has a 50 day simple moving average of $75.83 and a two-hundred day simple moving average of $82.45. The stock has a market cap of $13.33 billion, a PE ratio of 16.94, a P/E/G ratio of 1.18 and a beta of 1.27. Textron Inc. has a one year low of $71.67 and a one year high of $97.33. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.76 and a quick ratio of 0.84.

Textron (NYSE:TXT) last announced its 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. 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 analyst estimates of $3.78 billion. During the same period in the previous year, the business earned $1.60 earnings per share. The firm’s quarterly revenue was down 7.2% compared to the same quarter last year. On average, analysts predict that Textron Inc. will post 6.12 EPS for the current fiscal year.

Textron Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be issued a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.11%. Textron’s dividend payout ratio is 1.86%.

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.