Textron Inc. (NYSE:TXT) VP Mark S. Bamford Sells 5,451 Shares

Textron Inc. (NYSE:TXT) 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 owns 18,223 shares in the company, valued at approximately $1,324,447.64. This represents a 23.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

Textron Trading Up 0.2 %

NYSE:TXT opened at $73.19 on Friday. Textron Inc. has a 12 month low of $71.67 and a 12 month high of $97.33. The firm has a fifty day simple moving average of $75.77 and a 200-day simple moving average of $82.39. 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 company has a market capitalization of $13.36 billion, a P/E ratio of 16.98, a PEG ratio of 1.18 and a beta of 1.27.

Textron (NYSE:TXT) last issued 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 firm had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $3.78 billion. During the same quarter last year, the company posted $1.60 earnings per share. The firm’s revenue was down 7.2% compared to the same quarter last year. On average, equities research analysts anticipate that Textron Inc. will post 6.12 earnings per share for the current year.

Textron Dividend Announcement

The firm also recently announced 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. The ex-dividend date is Friday, March 14th. This represents a $0.08 annualized dividend and a dividend yield of 0.11%. Textron’s dividend payout ratio (DPR) is presently 1.86%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Invesco Ltd. raised its holdings in shares of Textron by 17.8% during the fourth quarter. Invesco Ltd. now owns 7,733,335 shares of the aerospace company’s stock worth $591,523,000 after purchasing an additional 1,167,105 shares during the last quarter. Boston Partners raised its holdings in shares of Textron by 4.7% during the fourth quarter. Boston Partners now owns 7,483,692 shares of the aerospace company’s stock worth $572,465,000 after purchasing an additional 333,127 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Textron by 3.7% during the fourth quarter. Geode Capital Management LLC now owns 4,595,861 shares of the aerospace company’s stock worth $350,619,000 after purchasing an additional 164,964 shares during the last quarter. Brandes Investment Partners LP increased its holdings in Textron by 19.4% in the fourth quarter. Brandes Investment Partners LP now owns 1,859,703 shares of the aerospace company’s stock valued at $142,249,000 after buying an additional 302,712 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in Textron by 9.4% in the fourth quarter. Northern Trust Corp now owns 1,803,778 shares of the aerospace company’s stock valued at $137,971,000 after buying an additional 155,384 shares in the last quarter. Hedge funds and other institutional investors own 86.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Citigroup dropped their price objective on shares of Textron from $118.00 to $111.00 and set a “buy” rating on the stock in a research note on Tuesday, January 21st. JPMorgan Chase & Co. lowered their target price 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. Robert W. Baird lowered 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. Bank of America downgraded shares of Textron from a “buy” rating to a “neutral” rating and lowered their target price for the company from $110.00 to $85.00 in a research note on Friday, January 24th. Finally, Barclays lowered their target price on shares of Textron from $104.00 to $95.00 and set an “overweight” rating for the company in a research note on Monday, December 23rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Textron currently has an average 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.