Legal & General Group Plc Has $82.28 Million Holdings in Textron Inc. (NYSE:TXT)

Legal & General Group Plc cut its stake in Textron Inc. (NYSE:TXT) by 24.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,075,690 shares of the aerospace company’s stock after selling 351,169 shares during the period. Legal & General Group Plc owned approximately 0.58% of Textron worth $82,280,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of TXT. SBI Securities Co. Ltd. bought a new stake in shares of Textron in the fourth quarter valued at about $31,000. Eastern Bank acquired a new stake in shares of Textron during the 4th quarter worth approximately $42,000. Golden State Wealth Management LLC bought a new stake in shares of Textron during the fourth quarter valued at approximately $63,000. McClarren Financial Advisors Inc. acquired a new position in shares of Textron in the fourth quarter valued at $68,000. Finally, Geneos Wealth Management Inc. lifted its position in Textron by 33.0% in the fourth quarter. Geneos Wealth Management Inc. now owns 964 shares of the aerospace company’s stock worth $74,000 after purchasing an additional 239 shares during the period. 86.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Textron

In other Textron 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 transaction of $396,178.68. Following the completion of the sale, the vice president now directly owns 18,223 shares of the company’s stock, valued at approximately $1,324,447.64. The trade was a 23.03 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.70% of the company’s stock.

Textron Price Performance

Textron stock opened at $65.64 on Friday. Textron Inc. has a 52 week low of $57.70 and a 52 week high of $95.86. The firm has a market cap of $11.92 billion, a P/E ratio of 15.23, a P/E/G 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. The business’s fifty day moving average is $71.70 and its two-hundred day moving average is $78.47.

Textron (NYSE:TXT) last issued its quarterly earnings data on Wednesday, January 22nd. The aerospace company reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.27 by $0.07. Textron had a net margin of 6.01% and a return on equity of 14.92%. The firm had revenue of $3.61 billion for the quarter, compared to analyst estimates of $3.78 billion. During the same quarter in the prior year, the firm earned $1.60 EPS. The company’s revenue was down 7.2% on a year-over-year basis. Equities 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 was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were given a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.12%. The ex-dividend date of this dividend was Friday, March 14th. Textron’s dividend payout ratio (DPR) is presently 1.86%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Textron from $90.00 to $88.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Barclays dropped their price target 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. Susquehanna decreased their price objective on Textron from $100.00 to $90.00 and set a “positive” rating on the stock in a report on Wednesday, January 8th. Morgan Stanley dropped their target price on Textron from $82.00 to $71.00 and set an “equal weight” rating for the company in a report on Friday. Finally, TD Cowen raised Textron to a “hold” rating in a research note on Monday, February 24th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $92.09.

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.