Textron Inc. (NYSE:TXT) Stake Lessened by LSV Asset Management

LSV Asset Management lowered its position in shares of Textron Inc. (NYSE:TXT) by 2.8% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 3,973,150 shares of the aerospace company’s stock after selling 113,816 shares during the period. LSV Asset Management owned 2.14% of Textron worth $303,906,000 as of its most recent filing with the SEC.

Several other institutional investors have also bought and sold shares of the stock. Pflug Koory LLC increased its holdings in shares of Textron by 0.9% in the 4th quarter. Pflug Koory LLC now owns 13,778 shares of the aerospace company’s stock valued at $1,054,000 after purchasing an additional 125 shares during the period. V Square Quantitative Management LLC boosted its position in Textron by 5.7% during the fourth quarter. V Square Quantitative Management LLC now owns 2,611 shares of the aerospace company’s stock worth $200,000 after purchasing an additional 141 shares during the period. Patriot Financial Group Insurance Agency LLC boosted its position in Textron by 5.8% during the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 2,977 shares of the aerospace company’s stock worth $228,000 after purchasing an additional 163 shares during the period. Motley Fool Asset Management LLC boosted its position in shares of Textron by 6.3% in the fourth quarter. Motley Fool Asset Management LLC now owns 2,732 shares of the aerospace company’s stock valued at $209,000 after acquiring an additional 163 shares during the period. Finally, Foundations Investment Advisors LLC boosted its position in shares of Textron by 4.1% in the fourth quarter. Foundations Investment Advisors LLC now owns 4,272 shares of the aerospace company’s stock valued at $327,000 after acquiring an additional 169 shares during the period. Institutional investors and hedge funds own 86.03% of the company’s stock.

Insiders Place Their Bets

In other 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. The trade was a 23.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.70% of the company’s stock.

Textron Stock Up 9.7 %

Shares of NYSE:TXT opened at $66.87 on Thursday. The business’s 50 day simple moving average is $72.12 and its two-hundred day simple moving average is $78.76. The firm has a market cap of $12.14 billion, a P/E ratio of 15.52, a PEG ratio of 1.18 and a beta of 1.06. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.84 and a current ratio of 1.76. Textron Inc. has a 52-week low of $57.70 and a 52-week high of $96.14.

Textron (NYSE:TXT) last posted its earnings results on Wednesday, January 22nd. The aerospace company reported $1.34 earnings per share 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 company had revenue of $3.61 billion for the quarter, compared to analyst estimates of $3.78 billion. During the same quarter last year, the company earned $1.60 earnings per share. The company’s revenue for the quarter was down 7.2% on a year-over-year basis. As a group, research analysts forecast that Textron Inc. will post 6.12 EPS for the current fiscal year.

Textron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were given a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.12%. The ex-dividend date of this dividend was Friday, March 14th. Textron’s dividend payout ratio is currently 1.86%.

Wall Street Analyst Weigh In

Several research analysts recently commented on TXT shares. Susquehanna reduced their target price on Textron from $100.00 to $90.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. Morgan Stanley lowered their target price on Textron from $86.00 to $82.00 and set an “equal weight” rating for the company in a research note on Thursday, January 23rd. Vertical Research upgraded Textron from a “hold” rating to a “buy” rating and set a $91.00 target price for the company in a research note on Monday, January 6th. TD Cowen upgraded Textron to a “hold” rating in a research report on Monday, February 24th. Finally, JPMorgan Chase & Co. reduced their target price on Textron from $90.00 to $88.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Textron currently has an average rating of “Moderate Buy” and an average 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.