Macquarie Group Ltd. cut its position in Textron Inc. (NYSE:TXT) by 11.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,600 shares of the aerospace company’s stock after selling 600 shares during the period. Macquarie Group Ltd.’s holdings in Textron were worth $211,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently made changes to their positions in the business. Victory Capital Management Inc. grew its position in shares of Textron by 11.9% in the 4th quarter. Victory Capital Management Inc. now owns 4,409,907 shares of the aerospace company’s stock valued at $202,812,000 after buying an additional 470,595 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Textron by 0.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,565,875 shares of the aerospace company’s stock valued at $163,995,000 after buying an additional 30,800 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Textron by 4.4% in the 4th quarter. Geode Capital Management LLC now owns 3,144,494 shares of the aerospace company’s stock valued at $144,357,000 after buying an additional 131,360 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Textron by 29.6% in the 4th quarter. Bank of New York Mellon Corp now owns 2,701,623 shares of the aerospace company’s stock valued at $124,248,000 after buying an additional 617,437 shares during the last quarter. Finally, Northern Trust Corp grew its position in shares of Textron by 3.0% in the 4th quarter. Northern Trust Corp now owns 2,631,198 shares of the aerospace company’s stock valued at $121,008,000 after buying an additional 75,714 shares during the last quarter. 83.88% of the stock is currently owned by institutional investors.
In other news, Chairman Scott C. Donnelly sold 230,654 shares of the firm’s stock in a transaction on Friday, February 22nd. The shares were sold at an average price of $55.04, for a total value of $12,695,196.16. Following the completion of the sale, the chairman now owns 707,495 shares in the company, valued at approximately $38,940,524.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Mark S. Bamford sold 4,500 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $54.75, for a total transaction of $246,375.00. The disclosure for this sale can be found here. Insiders sold a total of 458,112 shares of company stock valued at $25,222,635 in the last 90 days. Company insiders own 1.40% of the company’s stock.
Several research analysts have issued reports on TXT shares. TheStreet raised shares of Textron from a “c+” rating to a “b” rating in a research report on Thursday, January 31st. Zacks Investment Research raised shares of Textron from a “hold” rating to a “buy” rating and set a $60.00 price objective on the stock in a research report on Wednesday, February 13th. Cowen reissued a “buy” rating and set a $62.00 price objective on shares of Textron in a research report on Wednesday, February 27th. Jefferies Financial Group set a $59.00 price objective on shares of Textron and gave the stock a “buy” rating in a research report on Tuesday, January 8th. Finally, ValuEngine raised shares of Textron from a “sell” rating to a “hold” rating in a research report on Tuesday, January 15th. 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 stock. The stock currently has an average rating of “Buy” and an average price target of $66.08.
Shares of Textron stock opened at $52.14 on Wednesday. Textron Inc. has a 1 year low of $43.27 and a 1 year high of $72.87. The company has a current ratio of 2.14, a quick ratio of 1.05 and a debt-to-equity ratio of 0.68. The firm has a market cap of $12.16 billion, a price-to-earnings ratio of 15.61, a price-to-earnings-growth ratio of 1.12 and a beta of 1.65.
Textron (NYSE:TXT) last issued its quarterly earnings data on Thursday, January 24th. The aerospace company reported $1.15 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.98 by $0.17. Textron had a net margin of 8.75% and a return on equity of 15.51%. The company had revenue of $3.75 billion for the quarter, compared to the consensus estimate of $3.99 billion. During the same period last year, the firm posted $0.74 EPS. Textron’s revenue for the quarter was down 6.6% on a year-over-year basis. On average, research analysts forecast that Textron Inc. will post 3.67 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were paid a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.15%. The ex-dividend date of this dividend was Thursday, March 14th. Textron’s dividend payout ratio (DPR) is presently 2.40%.
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Textron, Inc is a multi-industry company, which leverages global network of aircraft, defense, industrial, and finance businesses to provide customers innovative solutions and services. The company operates its business through the following segments: Textron Aviation, Bell, Textron Systems, Industrial, and Finance.
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