Textron Inc. (NYSE:TXT) VP Mark S. Bamford Sells 5,451 Shares

Textron Inc. (NYSE:TXT) VP Mark S. Bamford sold 5,451 shares of the 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 sale, the vice president now 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 document filed with the Securities & Exchange Commission, which is available through this link.

Textron Stock Performance

TXT stock opened at $72.99 on Thursday. The company has a 50-day simple moving average of $75.83 and a 200 day simple moving average of $82.45. The company has a market capitalization of $13.33 billion, a P/E ratio of 16.94, a PEG ratio of 1.18 and a beta of 1.27. The company has a quick ratio of 0.84, a current ratio of 1.76 and a debt-to-equity ratio of 0.45. Textron Inc. has a fifty-two week low of $71.67 and a fifty-two week high of $97.33.

Textron (NYSE:TXT) last issued its quarterly earnings results on Wednesday, January 22nd. The aerospace company reported $1.34 earnings per share for the quarter, topping 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 company had revenue of $3.61 billion during the quarter, compared to analyst estimates of $3.78 billion. During the same period in the prior year, the business posted $1.60 EPS. The business’s revenue for the quarter was down 7.2% compared to the same quarter last year. Sell-side analysts predict that Textron Inc. will post 6.12 earnings per share for the current fiscal year.

Textron Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.11%. Textron’s payout ratio is currently 1.86%.

Institutional Trading of Textron

A number of hedge funds and other institutional investors have recently modified their holdings of TXT. True Wealth Design LLC bought a new position in Textron during the third quarter valued at about $26,000. SBI Securities Co. Ltd. acquired a new stake in Textron in the 4th quarter valued at about $31,000. Capital Performance Advisors LLP bought a new position in shares of Textron during the 3rd quarter valued at about $42,000. Truvestments Capital LLC bought a new position in shares of Textron during the 3rd quarter valued at about $43,000. Finally, Eastern Bank acquired a new position in shares of Textron in the 4th quarter worth approximately $42,000. Institutional investors own 86.03% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on TXT. Barclays lowered their target price on Textron from $104.00 to $95.00 and set an “overweight” rating for the company in a report on Monday, December 23rd. TD Cowen upgraded Textron to a “hold” rating in a research note on Monday. JPMorgan Chase & Co. cut their target price on Textron from $90.00 to $88.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Morgan Stanley lowered their price target on shares of Textron from $86.00 to $82.00 and set an “equal weight” rating for the company in a research report on Thursday, January 23rd. Finally, Robert W. Baird dropped their price objective on shares of Textron from $100.00 to $92.00 and set an “outperform” rating on the stock in a report on Thursday, January 23rd. One research 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, the company has a consensus rating of “Moderate Buy” and a consensus target price of $93.45.

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.