Cornercap Investment Counsel Inc. Has $1.36 Million Stock Holdings in Textron Inc. (NYSE:TXT)

Cornercap Investment Counsel Inc. trimmed its position in Textron Inc. (NYSE:TXT) by 3.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,789 shares of the aerospace company’s stock after selling 717 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in Textron were worth $1,361,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of TXT. Merit Financial Group LLC grew its holdings in Textron by 5.9% in the 4th quarter. Merit Financial Group LLC now owns 4,784 shares of the aerospace company’s stock valued at $366,000 after buying an additional 265 shares during the last quarter. Empowered Funds LLC lifted its stake in shares of Textron by 28.6% in the fourth quarter. Empowered Funds LLC now owns 20,132 shares of the aerospace company’s stock valued at $1,540,000 after buying an additional 4,480 shares during the period. Franklin Resources Inc. grew its position in Textron by 10.3% during the third quarter. Franklin Resources Inc. now owns 164,029 shares of the aerospace company’s stock worth $14,505,000 after buying an additional 15,294 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Textron by 44.6% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,390 shares of the aerospace company’s stock valued at $1,343,000 after acquiring an additional 5,367 shares during the period. Finally, Todd Asset Management LLC raised its holdings in Textron by 1.8% in the 4th quarter. Todd Asset Management LLC now owns 470,292 shares of the aerospace company’s stock valued at $35,973,000 after acquiring an additional 8,198 shares in the last quarter. 86.03% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on TXT shares. Susquehanna reduced 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. Robert W. Baird lowered 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. Barclays decreased their price target on Textron from $104.00 to $95.00 and set an “overweight” rating on the stock in a research note on Monday, December 23rd. Vertical Research upgraded Textron from a “hold” rating to a “buy” rating and set a $91.00 price objective for the company in a research note on Monday, January 6th. Finally, TD Cowen upgraded shares of Textron to a “hold” rating in a research note on Monday, February 24th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $93.45.

Insiders Place Their Bets

In other news, VP Mark S. Bamford sold 5,451 shares of the company’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $72.68, for a total transaction of $396,178.68. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.70% of the company’s stock.

Textron Trading Down 3.1 %

Shares of NYSE TXT opened at $72.92 on Friday. Textron Inc. has a 1-year low of $70.14 and a 1-year high of $97.34. The company has a 50-day moving average of $74.49 and a two-hundred day moving average of $80.26. The company has a market cap of $13.24 billion, a PE ratio of 16.92, a P/E/G ratio of 1.18 and a beta of 1.27. The company has a current ratio of 1.76, a quick ratio of 0.84 and a debt-to-equity ratio of 0.45.

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

Textron Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.11%. The ex-dividend date of this dividend is Friday, March 14th. 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.