Royal London Asset Management Ltd. Sells 4,543 Shares of Textron Inc. (NYSE:TXT)

Royal London Asset Management Ltd. trimmed its stake in shares of Textron Inc. (NYSE:TXT) by 5.4% during the 4th quarter, Holdings Channel.com reports. The fund owned 80,185 shares of the aerospace company’s stock after selling 4,543 shares during the quarter. Royal London Asset Management Ltd.’s holdings in Textron were worth $6,133,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of TXT. True Wealth Design LLC purchased a new stake in Textron during the 3rd quarter valued at $26,000. SBI Securities Co. Ltd. bought a new position in shares of Textron during the fourth quarter valued at approximately $31,000. Truvestments Capital LLC bought a new stake in Textron in the third quarter valued at $43,000. Eastern Bank purchased a new position in Textron during the 4th quarter valued at $42,000. Finally, Golden State Wealth Management LLC purchased a new position in Textron during the 4th quarter valued at $63,000. 86.03% of the stock is owned by hedge funds and other institutional investors.

Textron Stock Performance

Shares of TXT stock opened at $73.07 on Monday. The company has a market capitalization of $13.27 billion, a price-to-earnings ratio of 16.95, a price-to-earnings-growth ratio of 1.18 and a beta of 1.27. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.84 and a current ratio of 1.76. Textron Inc. has a one year low of $70.14 and a one year high of $97.34. The company’s 50-day moving average is $74.88 and its 200 day moving average is $80.60.

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

Textron Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.11%. The ex-dividend date is Friday, March 14th. Textron’s dividend payout ratio is currently 1.86%.

Wall Street Analysts Forecast Growth

TXT has been the topic of a number of research reports. TD Cowen raised shares of Textron to a “hold” rating in a research note on Monday, February 24th. 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 report on Monday, January 6th. JPMorgan Chase & Co. lowered their target price on Textron from $90.00 to $88.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Bank of America cut Textron from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $110.00 to $85.00 in a research note on Friday, January 24th. Finally, Morgan Stanley lowered their price objective on Textron from $86.00 to $82.00 and set an “equal weight” rating for the company in a research report on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $93.45.

Insider Activity

In related news, VP Mark S. Bamford sold 5,451 shares of Textron stock in a transaction dated 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 sale, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.70% of the company’s stock.

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.