Cottage Street Advisors LLC Sells 3,169 Shares of Textron Inc. (NYSE:TXT)

Cottage Street Advisors LLC reduced its stake in Textron Inc. (NYSE:TXT) by 22.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,200 shares of the aerospace company’s stock after selling 3,169 shares during the quarter. Cottage Street Advisors LLC’s holdings in Textron were worth $857,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Pflug Koory LLC boosted its holdings in shares of Textron by 0.9% in the fourth quarter. Pflug Koory LLC now owns 13,778 shares of the aerospace company’s stock worth $1,054,000 after acquiring an additional 125 shares during the period. V Square Quantitative Management LLC lifted its holdings in shares of Textron by 5.7% during the 4th quarter. V Square Quantitative Management LLC now owns 2,611 shares of the aerospace company’s stock worth $200,000 after acquiring an additional 141 shares during the last quarter. Patriot Financial Group Insurance Agency LLC lifted its stake in Textron by 5.8% during the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 2,977 shares of the aerospace company’s stock worth $228,000 after purchasing an additional 163 shares during the last quarter. Foundations Investment Advisors LLC boosted its stake in Textron by 4.1% in the fourth quarter. Foundations Investment Advisors LLC now owns 4,272 shares of the aerospace company’s stock worth $327,000 after buying an additional 169 shares in the last quarter. Finally, Uncommon Cents Investing LLC grew its holdings in shares of Textron by 2.2% during the 4th quarter. Uncommon Cents Investing LLC now owns 7,985 shares of the aerospace company’s stock valued at $611,000 after purchasing an additional 175 shares during the last quarter. 86.03% of the stock is currently owned by institutional investors.

Insider Activity at Textron

In related news, VP Mark S. Bamford sold 5,451 shares of the business’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $72.68, for a total value 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. The trade was a 23.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.70% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages recently weighed in on TXT. Robert W. Baird dropped their target price on Textron from $100.00 to $92.00 and set an “outperform” rating for the company in a report on Thursday, January 23rd. TD Cowen upgraded shares of Textron to a “hold” rating in a report on Monday, February 24th. Barclays reduced their price objective on Textron from $104.00 to $95.00 and set an “overweight” rating for the company in a research report on Monday, December 23rd. Bank of America lowered Textron from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $110.00 to $85.00 in a research report on Friday, January 24th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Textron from $90.00 to $88.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $93.45.

Textron Price Performance

NYSE TXT opened at $74.50 on Wednesday. The company has a quick ratio of 0.84, a current ratio of 1.76 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $13.53 billion, a P/E ratio of 17.29, a PEG ratio of 1.18 and a beta of 1.27. The company has a 50-day moving average price of $74.76 and a 200-day moving average price of $80.43. Textron Inc. has a 52 week low of $70.14 and a 52 week high of $97.34.

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 the consensus estimate of $1.27 by $0.07. The business had revenue of $3.61 billion for the quarter, compared to analysts’ expectations of $3.78 billion. Textron had a net margin of 6.01% and a return on equity of 14.92%. The company’s revenue was down 7.2% compared to the same quarter last year. During the same quarter last year, the company posted $1.60 EPS. Equities research analysts anticipate that Textron Inc. will post 6.12 earnings per share for the current year.

Textron Announces Dividend

The firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 0.11%. The ex-dividend date is Friday, March 14th. Textron’s dividend payout ratio (DPR) 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.