Amalgamated Bank Sells 2,877 Shares of Textron Inc. (NYSE:TXT)

Amalgamated Bank cut its stake in shares of Textron Inc. (NYSE:TXT) by 4.5% in the fourth quarter, HoldingsChannel reports. The fund owned 61,529 shares of the aerospace company’s stock after selling 2,877 shares during the period. Amalgamated Bank’s holdings in Textron were worth $4,948,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TXT. CVA Family Office LLC bought a new position in shares of Textron in the fourth quarter worth approximately $29,000. Trust Co. of Vermont bought a new position in shares of Textron during the 3rd quarter valued at about $37,000. Provence Wealth Management Group purchased a new position in shares of Textron during the third quarter valued at about $39,000. Morton Brown Family Wealth LLC purchased a new position in shares of Textron during the fourth quarter valued at about $40,000. Finally, Quent Capital LLC lifted its position in shares of Textron by 29.2% in the fourth quarter. Quent Capital LLC now owns 633 shares of the aerospace company’s stock worth $51,000 after buying an additional 143 shares in the last quarter. 86.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TXT has been the subject of several research analyst reports. Citigroup raised their price target on Textron from $104.00 to $111.00 and gave the company a “buy” rating in a report on Thursday, April 4th. Bank of America raised shares of Textron from a “neutral” rating to a “buy” rating and upped their price target for the company from $85.00 to $105.00 in a research note on Friday, March 8th. The Goldman Sachs Group lifted their price objective on shares of Textron from $103.00 to $120.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. UBS Group upped their target price on shares of Textron from $77.00 to $81.00 and gave the company a “sell” rating in a research report on Friday, January 26th. Finally, StockNews.com lowered Textron from a “strong-buy” rating to a “buy” rating in a research report on Friday, April 26th. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Textron has an average rating of “Moderate Buy” and a consensus target price of $95.63.

Textron Trading Up 0.7 %

Shares of TXT opened at $87.51 on Wednesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.81 and a quick ratio of 0.84. The firm has a market capitalization of $16.69 billion, a price-to-earnings ratio of 18.70, a PEG ratio of 1.35 and a beta of 1.32. The company has a 50-day moving average of $92.09 and a 200 day moving average of $84.30. Textron Inc. has a 1-year low of $61.27 and a 1-year high of $97.33.

Textron (NYSE:TXT) last posted its quarterly earnings results on Thursday, April 25th. The aerospace company reported $1.20 earnings per share for the quarter, missing the consensus estimate of $1.28 by ($0.08). Textron had a net margin of 6.75% and a return on equity of 16.30%. The company had revenue of $3.14 billion for the quarter, compared to the consensus estimate of $3.29 billion. During the same period in the prior year, the firm posted $1.05 EPS. The business’s revenue was up 3.7% on a year-over-year basis. On average, research analysts expect that Textron Inc. will post 6.27 EPS for the current year.

Textron Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be paid a dividend of $0.02 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.08 annualized dividend and a dividend yield of 0.09%. Textron’s dividend payout ratio is currently 1.71%.

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.