Textron Inc. (NYSE:TXT) Shares Sold by Wright Investors Service Inc.

Wright Investors Service Inc. trimmed its holdings in shares of Textron Inc. (NYSE:TXT) by 47.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,005 shares of the aerospace company’s stock after selling 8,958 shares during the period. Wright Investors Service Inc.’s holdings in Textron were worth $805,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Allworth Financial LP raised its holdings in Textron by 12.0% in the fourth quarter. Allworth Financial LP now owns 1,283 shares of the aerospace company’s stock valued at $103,000 after acquiring an additional 137 shares in the last quarter. Kestra Advisory Services LLC increased its stake in Textron by 2.9% during the second quarter. Kestra Advisory Services LLC now owns 4,930 shares of the aerospace company’s stock valued at $333,000 after purchasing an additional 139 shares during the last quarter. Quent Capital LLC increased its stake in Textron by 29.2% during the fourth quarter. Quent Capital LLC now owns 633 shares of the aerospace company’s stock valued at $51,000 after purchasing an additional 143 shares during the last quarter. Financial Advocates Investment Management increased its stake in Textron by 3.3% during the third quarter. Financial Advocates Investment Management now owns 5,208 shares of the aerospace company’s stock valued at $407,000 after purchasing an additional 168 shares during the last quarter. Finally, Greenleaf Trust grew its position in shares of Textron by 4.0% during the third quarter. Greenleaf Trust now owns 4,401 shares of the aerospace company’s stock worth $344,000 after acquiring an additional 171 shares during the last quarter. 86.03% of the stock is owned by institutional investors and hedge funds.

Textron Trading Up 0.4 %

NYSE:TXT opened at $92.58 on Friday. Textron Inc. has a 52 week low of $61.27 and a 52 week high of $97.33. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.03 and a current ratio of 1.92. The stock’s 50 day moving average price is $91.53 and its 200 day moving average price is $83.27. The company has a market capitalization of $17.81 billion, a P/E ratio of 20.26, a P/E/G ratio of 1.45 and a beta of 1.30.

Textron (NYSE:TXT) last announced its quarterly earnings results on Wednesday, January 24th. The aerospace company reported $1.60 EPS for the quarter, beating the consensus estimate of $1.53 by $0.07. Textron had a return on equity of 16.05% and a net margin of 6.73%. The company had revenue of $3.89 billion for the quarter, compared to the consensus estimate of $3.97 billion. During the same quarter last year, the company posted $1.07 earnings per share. The company’s revenue for the quarter was up 7.0% compared to the same quarter last year. On average, research analysts forecast that Textron Inc. will post 6.27 EPS for the current fiscal year.

Textron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were given a $0.02 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.08 annualized dividend and a dividend yield of 0.09%. Textron’s dividend payout ratio is 1.75%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Bank of America upgraded shares of Textron from a “neutral” rating to a “buy” rating and upped their price target for the stock from $85.00 to $105.00 in a research report on Friday, March 8th. Citigroup upped their price target on shares of Textron from $104.00 to $111.00 and gave the company a “buy” rating in a report on Thursday, April 4th. UBS Group upped their price objective on shares of Textron from $77.00 to $81.00 and gave the company a “sell” rating in a research note on Friday, January 26th. The Goldman Sachs Group upped their price objective on shares of Textron from $103.00 to $120.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, StockNews.com raised shares of Textron from a “buy” rating to a “strong-buy” rating in a research note on Thursday, January 25th. One analyst has rated the stock with a sell rating, two have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $93.63.

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.