O Shaughnessy Asset Management LLC Decreases Stock Position in Textron Inc. (NYSE:TXT)

O Shaughnessy Asset Management LLC trimmed its position in shares of Textron Inc. (NYSE:TXT) by 12.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,698 shares of the aerospace company’s stock after selling 2,160 shares during the quarter. O Shaughnessy Asset Management LLC’s holdings in Textron were worth $1,124,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of TXT. Brandywine Global Investment Management LLC grew its holdings in Textron by 21.1% during the 4th quarter. Brandywine Global Investment Management LLC now owns 274,729 shares of the aerospace company’s stock valued at $21,014,000 after purchasing an additional 47,879 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of Textron by 66.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 66,314 shares of the aerospace company’s stock valued at $5,072,000 after buying an additional 26,378 shares during the period. Allstate Corp bought a new position in shares of Textron during the fourth quarter valued at approximately $413,000. Caisse Des Depots ET Consignations purchased a new stake in shares of Textron in the fourth quarter worth approximately $3,045,000. Finally, NEOS Investment Management LLC lifted its stake in shares of Textron by 30.2% during the 4th quarter. NEOS Investment Management LLC now owns 10,717 shares of the aerospace company’s stock worth $820,000 after acquiring an additional 2,487 shares during the last quarter. Institutional investors own 86.03% of the company’s stock.

Wall Street Analyst Weigh In

TXT has been the topic of a number of recent analyst reports. Vertical Research upgraded Textron from a “hold” rating to a “buy” rating and set a $91.00 target price on the stock in a research note on Monday, January 6th. Susquehanna decreased their price objective on shares of Textron from $100.00 to $90.00 and set a “positive” rating for the company in a report on Wednesday, January 8th. Bank of America downgraded shares of Textron from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $110.00 to $85.00 in a research note on Friday, January 24th. TD Cowen raised shares of Textron to a “hold” rating in a research note on Monday, February 24th. Finally, Morgan Stanley dropped their price objective on Textron from $86.00 to $82.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 23rd. One equities research 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. According to MarketBeat.com, Textron has an average rating of “Moderate Buy” and a consensus target price of $93.45.

Insider Transactions at Textron

In other news, VP Mark S. Bamford sold 5,451 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $72.68, for a total transaction of $396,178.68. Following the sale, the vice president now directly owns 18,223 shares of the company’s stock, valued at $1,324,447.64. This represents a 23.03 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 1.70% of the company’s stock.

Textron Trading Down 9.5 %

NYSE TXT opened at $60.54 on Monday. Textron Inc. has a 1 year low of $60.38 and a 1 year high of $97.34. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.76 and a quick ratio of 0.84. The company has a market capitalization of $11.00 billion, a PE ratio of 14.05, a P/E/G ratio of 1.18 and a beta of 1.06. The company has a fifty day moving average of $73.49 and a 200 day moving average of $79.50.

Textron (NYSE:TXT) last issued its quarterly earnings data on Wednesday, January 22nd. The aerospace company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.07. The business had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $3.78 billion. Textron had a return on equity of 14.92% and a net margin of 6.01%. The company’s revenue for the quarter was down 7.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.60 EPS. Research analysts forecast that Textron Inc. will post 6.12 earnings per share for the current year.

Textron Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were paid a dividend of $0.02 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.13%. Textron’s payout ratio is 1.86%.

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.