Textron Inc. (NYSE:TXT) Position Lessened by Fox Run Management L.L.C.

Fox Run Management L.L.C. reduced its stake in shares of Textron Inc. (NYSE:TXT) by 11.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,148 shares of the aerospace company’s stock after selling 937 shares during the quarter. Fox Run Management L.L.C.’s holdings in Textron were worth $547,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Merit Financial Group LLC boosted its holdings in shares of Textron by 5.9% during the fourth quarter. Merit Financial Group LLC now owns 4,784 shares of the aerospace company’s stock valued at $366,000 after acquiring an additional 265 shares during the period. Empowered Funds LLC boosted its stake in Textron by 28.6% during the 4th quarter. Empowered Funds LLC now owns 20,132 shares of the aerospace company’s stock valued at $1,540,000 after purchasing an additional 4,480 shares during the period. Franklin Resources Inc. grew its position in Textron by 10.3% in the 3rd quarter. Franklin Resources Inc. now owns 164,029 shares of the aerospace company’s stock worth $14,505,000 after purchasing an additional 15,294 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Textron by 44.6% in 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 purchasing an additional 5,367 shares during the period. Finally, Todd Asset Management LLC raised its holdings in shares of Textron by 1.8% during the fourth quarter. Todd Asset Management LLC now owns 470,292 shares of the aerospace company’s stock valued at $35,973,000 after buying an additional 8,198 shares during the last quarter. 86.03% of the stock is currently owned by institutional investors.

Insider Activity at Textron

In other Textron news, VP Mark S. Bamford sold 5,451 shares of Textron stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $72.68, for a total transaction of $396,178.68. Following the transaction, the vice president now directly owns 18,223 shares in the company, valued at approximately $1,324,447.64. The trade was a 23.03 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.70% of the stock is owned by insiders.

Textron Price Performance

NYSE TXT opened at $74.23 on Tuesday. Textron Inc. has a 1 year low of $70.14 and a 1 year high of $97.34. The business’s fifty day moving average is $74.83 and its two-hundred day moving average is $80.51. The stock has a market capitalization of $13.48 billion, a P/E ratio of 17.22, a P/E/G 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 (NYSE:TXT) last announced its earnings results on Wednesday, January 22nd. The aerospace company reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.27 by $0.07. Textron had a return on equity of 14.92% and a net margin of 6.01%. The company had revenue of $3.61 billion for the quarter, compared to analyst estimates of $3.78 billion. During the same period in the previous year, the firm earned $1.60 earnings per share. Textron’s revenue for the quarter was down 7.2% compared to the same quarter last year. On average, research analysts forecast 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. Stockholders of record on Friday, March 14th will be issued a dividend of $0.02 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.11%. Textron’s dividend payout ratio is currently 1.86%.

Analyst Ratings Changes

Several analysts recently commented on TXT shares. JPMorgan Chase & Co. lowered their target price on Textron from $90.00 to $88.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Vertical Research upgraded shares of Textron from a “hold” rating to a “buy” rating and set a $91.00 price objective on the stock in a research note on Monday, January 6th. Bank of America downgraded shares of Textron from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $110.00 to $85.00 in a report on Friday, January 24th. Citigroup lowered their target price on shares of Textron from $118.00 to $111.00 and set a “buy” rating on the stock in a research note on Tuesday, January 21st. Finally, Susquehanna reduced their price target on shares of Textron from $100.00 to $90.00 and set a “positive” rating for the company in a research note on Wednesday, January 8th. One equities research 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’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $93.45.

About Textron

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.