Textron Inc. (NYSE:TXT) Shares Sold by Steward Partners Investment Advisory LLC

Steward Partners Investment Advisory LLC cut its stake in Textron Inc. (NYSE:TXT) by 25.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,885 shares of the aerospace company’s stock after selling 11,405 shares during the period. Steward Partners Investment Advisory LLC’s holdings in Textron were worth $2,515,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. True Wealth Design LLC purchased a new position in shares of Textron in the third quarter worth $26,000. SBI Securities Co. Ltd. acquired a new position in shares of Textron in the 4th quarter valued at $31,000. Capital Performance Advisors LLP purchased a new position in Textron in the 3rd quarter worth $42,000. Truvestments Capital LLC acquired a new stake in Textron during the 3rd quarter worth about $43,000. Finally, Eastern Bank purchased a new stake in Textron during the 4th quarter valued at about $42,000. Hedge funds and other institutional investors own 86.03% of the company’s stock.

Textron Trading Up 2.9 %

TXT stock opened at $75.50 on Friday. 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 52-week low of $70.14 and a 52-week high of $97.33. The company’s 50-day simple moving average is $75.37 and its 200-day simple moving average is $81.91. The firm has a market cap of $13.71 billion, a P/E ratio of 17.52, a PEG ratio of 1.18 and a beta of 1.27.

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

Textron Dividend Announcement

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

Wall Street Analysts Forecast Growth

TXT has been the subject of several research analyst reports. Susquehanna reduced their price objective on Textron from $100.00 to $90.00 and set a “positive” rating for the company in a research note on Wednesday, January 8th. Citigroup decreased their price objective on shares of Textron from $118.00 to $111.00 and set a “buy” rating for the company in a research note on Tuesday, January 21st. Barclays dropped their price objective on shares of Textron from $104.00 to $95.00 and set an “overweight” rating on the stock in a report on Monday, December 23rd. TD Cowen raised shares of Textron to a “hold” rating in a report on Monday, February 24th. Finally, Morgan Stanley lowered their price target on shares of Textron from $86.00 to $82.00 and set an “equal weight” rating on the stock in a report on Thursday, January 23rd. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $93.45.

Insider Buying and Selling at Textron

In other Textron news, VP Mark S. Bamford sold 5,451 shares of the business’s stock in a transaction that occurred on 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 sale, 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.70% of the company’s stock.

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.