Envestnet Portfolio Solutions Inc. Decreases Stock Position in Textron Inc. (NYSE:TXT)

Envestnet Portfolio Solutions Inc. lessened its position in Textron Inc. (NYSE:TXT) by 31.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,867 shares of the aerospace company’s stock after selling 5,514 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Textron were worth $908,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in TXT. True Wealth Design LLC acquired a new stake in shares of Textron in the third quarter valued at approximately $26,000. SBI Securities Co. Ltd. acquired a new stake in shares of Textron in the fourth quarter valued at approximately $31,000. Eastern Bank acquired a new stake in shares of Textron in the fourth quarter valued at approximately $42,000. Truvestments Capital LLC acquired a new stake in Textron during the third quarter worth $43,000. Finally, Golden State Wealth Management LLC acquired a new stake in Textron during the fourth quarter worth $63,000. Institutional investors and hedge funds own 86.03% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on TXT. Bank of America cut Textron from a “buy” rating to a “neutral” rating and cut their target price for the stock from $110.00 to $85.00 in a research note on Friday, January 24th. Susquehanna cut their target price on Textron from $100.00 to $90.00 and set a “positive” rating for the company in a research note on Wednesday, January 8th. Vertical Research raised 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. Morgan Stanley cut 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. Finally, JPMorgan Chase & Co. dropped their price objective on Textron from $90.00 to $88.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. 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’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $93.45.

Textron Trading Down 0.6 %

NYSE:TXT opened at $73.07 on Monday. The firm has a market cap of $13.27 billion, a PE ratio of 16.95, a price-to-earnings-growth ratio of 1.18 and a beta of 1.27. The stock has a fifty day moving average price of $74.88 and a 200 day moving average price of $80.60. Textron Inc. has a 12-month low of $70.14 and a 12-month high of $97.34. The company has a current ratio of 1.76, a quick ratio of 0.84 and a debt-to-equity ratio of 0.45.

Textron (NYSE:TXT) last released its earnings results on Wednesday, January 22nd. The aerospace company reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $0.07. The firm had revenue of $3.61 billion during the quarter, compared to analyst estimates of $3.78 billion. Textron had a return on equity of 14.92% and a net margin of 6.01%. Textron’s revenue was down 7.2% compared to the same quarter last year. During the same period last year, the business posted $1.60 earnings per share. Sell-side analysts anticipate that Textron Inc. will post 6.12 earnings per share for the current fiscal year.

Textron Announces Dividend

The business 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 $0.02 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.08 dividend on an annualized basis and a yield of 0.11%. Textron’s dividend payout ratio (DPR) is presently 1.86%.

Insider Activity at Textron

In related 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. This trade represents a 23.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.70% of the stock is currently owned by company insiders.

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.