National Pension Service Sells 9,703 Shares of Textron Inc. (NYSE:TXT)

National Pension Service lessened its position in Textron Inc. (NYSE:TXT) by 2.6% during the fourth quarter, Holdings Channel reports. The fund owned 358,778 shares of the aerospace company’s stock after selling 9,703 shares during the period. National Pension Service’s holdings in Textron were worth $27,443,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in TXT. True Wealth Design LLC bought a new position in Textron in the third quarter valued at $26,000. Capital Performance Advisors LLP bought a new position in Textron in the third quarter valued at $42,000. Eastern Bank bought a new position in Textron in the fourth quarter valued at $42,000. Truvestments Capital LLC bought a new position in Textron in the third quarter valued at $43,000. Finally, Venturi Wealth Management LLC grew its stake in shares of Textron by 69.5% during the third quarter. Venturi Wealth Management LLC now owns 566 shares of the aerospace company’s stock valued at $50,000 after buying an additional 232 shares during the last quarter. Institutional investors own 86.03% of the company’s stock.

Insiders Place Their Bets

In other Textron news, VP Mark S. Bamford sold 5,451 shares of the firm’s stock in a transaction dated 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 directly owns 18,223 shares in the company, valued at $1,324,447.64. This trade represents a 23.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 1.70% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on TXT. Robert W. Baird reduced their price objective on Textron from $100.00 to $92.00 and set an “outperform” rating on the stock in a research note on Thursday, January 23rd. Vertical Research raised Textron from a “hold” rating to a “buy” rating and set a $91.00 price objective on the stock in a research note on Monday, January 6th. TD Cowen raised Textron to a “hold” rating in a research note on Monday, February 24th. Barclays reduced their price objective on Textron from $104.00 to $95.00 and set an “overweight” rating on the stock in a research note on Monday, December 23rd. Finally, Susquehanna reduced their price objective on Textron from $100.00 to $90.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $93.45.

Textron Stock Up 2.1 %

NYSE TXT opened at $74.76 on Friday. 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 Inc. has a 1 year low of $71.67 and a 1 year high of $97.33. The business’s 50-day moving average is $75.73 and its 200 day moving average is $82.29. The stock has a market capitalization of $13.65 billion, a PE ratio of 17.34, a PEG ratio of 1.18 and a beta of 1.27.

Textron (NYSE:TXT) last issued its quarterly earnings data on Wednesday, January 22nd. The aerospace company reported $1.34 EPS for the quarter, topping 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 last year, the business posted $1.60 earnings per share. Textron’s quarterly revenue was down 7.2% compared to the same quarter last year. Sell-side analysts forecast that Textron Inc. will post 6.12 earnings per share for the current year.

Textron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders 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 annualized dividend and a yield of 0.11%. Textron’s dividend payout ratio (DPR) is presently 1.86%.

About Textron

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.