Textron Inc. (NYSE:TXT) Shares Sold by Grimes & Company Inc.

Grimes & Company Inc. lessened its position in shares of Textron Inc. (NYSE:TXT) by 8.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 64,464 shares of the aerospace company’s stock after selling 6,230 shares during the quarter. Grimes & Company Inc.’s holdings in Textron were worth $6,184,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Lindbrook Capital LLC grew its position in Textron by 18.6% during the fourth quarter. Lindbrook Capital LLC now owns 777 shares of the aerospace company’s stock valued at $62,000 after buying an additional 122 shares during the period. Allworth Financial LP lifted its holdings in Textron by 12.0% during the fourth quarter. Allworth Financial LP now owns 1,283 shares of the aerospace company’s stock valued at $103,000 after purchasing an additional 137 shares in the last quarter. Quent Capital LLC lifted its holdings in Textron by 29.2% during the fourth quarter. Quent Capital LLC now owns 633 shares of the aerospace company’s stock valued at $51,000 after purchasing an additional 143 shares in the last quarter. Czech National Bank lifted its holdings in Textron by 0.5% during the first quarter. Czech National Bank now owns 34,487 shares of the aerospace company’s stock valued at $3,308,000 after purchasing an additional 157 shares in the last quarter. Finally, Altman Advisors Inc. lifted its holdings in Textron by 0.8% during the fourth quarter. Altman Advisors Inc. now owns 21,357 shares of the aerospace company’s stock valued at $1,718,000 after purchasing an additional 159 shares in the last quarter. Institutional investors and hedge funds own 86.03% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Susquehanna decreased their price objective on shares of Textron from $110.00 to $105.00 and set a “positive” rating on the stock in a report on Friday, April 26th. The Goldman Sachs Group increased their price objective on shares of Textron from $103.00 to $120.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Bank of America raised shares of Textron from a “neutral” rating to a “buy” rating and increased their price objective for the company from $85.00 to $105.00 in a report on Friday, March 8th. StockNews.com downgraded shares of Textron from a “strong-buy” rating to a “buy” rating in a report on Friday, April 26th. Finally, Citigroup raised their price target on shares of Textron from $104.00 to $111.00 and gave the stock a “buy” rating in a research note on Thursday, April 4th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Textron presently has a consensus rating of “Moderate Buy” and a consensus target price of $99.29.

Insider Buying and Selling at Textron

In other Textron news, Director Kathleen M. Bader sold 11,870 shares of the business’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $87.91, for a total value of $1,043,491.70. Following the transaction, the director now directly owns 3,756 shares in the company, valued at approximately $330,189.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.70% of the stock is currently owned by company insiders.

Textron Price Performance

TXT traded down $0.48 on Friday, reaching $85.86. 1,845,273 shares of the company’s stock were exchanged, compared to its average volume of 959,773. The stock has a market cap of $16.37 billion, a PE ratio of 18.35, a P/E/G ratio of 1.37 and a beta of 1.28. Textron Inc. has a twelve month low of $66.43 and a twelve month high of $97.33. The stock’s fifty day moving average price is $87.28 and its 200-day moving average price is $86.96. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.81 and a quick ratio of 0.84.

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 analysts’ consensus estimates of $1.28 by ($0.08). The business had revenue of $3.14 billion for the quarter, compared to analyst estimates of $3.29 billion. Textron had a return on equity of 16.30% and a net margin of 6.75%. The business’s revenue was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.05 earnings per share. Sell-side analysts expect that Textron Inc. will post 6.27 EPS for the current year.

Textron Dividend Announcement

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

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.