Textron Inc. (NYSE:TXT) Stock Holdings Lessened by Sigma Planning Corp

Sigma Planning Corp reduced its holdings in Textron Inc. (NYSE:TXT) by 21.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 4,790 shares of the aerospace company’s stock after selling 1,309 shares during the quarter. Sigma Planning Corp’s holdings in Textron were worth $366,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of TXT. International Assets Investment Management LLC acquired a new stake in shares of Textron in the 4th quarter worth about $11,523,000. National Bank of Canada FI increased its holdings in shares of Textron by 161.8% in the 3rd quarter. National Bank of Canada FI now owns 145,174 shares of the aerospace company’s stock worth $12,860,000 after acquiring an additional 89,724 shares during the period. Vinva Investment Management Ltd increased its holdings in shares of Textron by 1,757.6% in the 3rd quarter. Vinva Investment Management Ltd now owns 72,446 shares of the aerospace company’s stock worth $6,357,000 after acquiring an additional 68,546 shares during the period. Wellington Management Group LLP increased its holdings in shares of Textron by 18.0% in the 3rd quarter. Wellington Management Group LLP now owns 401,475 shares of the aerospace company’s stock worth $35,563,000 after acquiring an additional 61,248 shares during the period. Finally, Robeco Institutional Asset Management B.V. increased its holdings in shares of Textron by 13.3% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 495,411 shares of the aerospace company’s stock worth $43,884,000 after acquiring an additional 57,967 shares during the period. Institutional investors and hedge funds own 86.03% of the company’s stock.

Textron Stock Up 0.2 %

TXT stock 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 market cap of $13.36 billion, a PE ratio of 16.98, a P/E/G ratio of 1.18 and a beta of 1.27. The firm has a 50 day simple moving average of $75.77 and a 200 day simple moving average of $82.39. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.76 and a quick ratio of 0.84.

Textron (NYSE:TXT) last released its earnings results on Wednesday, January 22nd. The aerospace company reported $1.34 EPS for the quarter, beating 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 business had revenue of $3.61 billion during the quarter, compared to analyst estimates of $3.78 billion. During the same period in the prior year, the business earned $1.60 earnings per share. The business’s quarterly 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 Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be given a $0.02 dividend. The ex-dividend date of this dividend 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%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on TXT. Bank of America cut shares of Textron from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $110.00 to $85.00 in a report on Friday, January 24th. JPMorgan Chase & Co. lowered their target price on shares of Textron from $90.00 to $88.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Morgan Stanley lowered their target price on shares of Textron from $86.00 to $82.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 23rd. Citigroup lowered their target price 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. Finally, Robert W. Baird lowered their target price on shares of Textron from $100.00 to $92.00 and set an “outperform” 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 assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $93.45.

Insider Activity at Textron

In related news, VP Mark S. Bamford sold 5,451 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $72.68, for a total value of $396,178.68. Following the completion of the sale, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.70% of the stock is owned by insiders.

Textron Company 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.