NewEdge Advisors LLC Lowers Holdings in Textron Inc. (NYSE:TXT)

NewEdge Advisors LLC lowered its position in shares of Textron Inc. (NYSE:TXT) by 22.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 21,286 shares of the aerospace company’s stock after selling 6,133 shares during the period. NewEdge Advisors LLC’s holdings in Textron were worth $1,628,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Invesco Ltd. boosted its position in Textron by 17.8% during the 4th quarter. Invesco Ltd. now owns 7,733,335 shares of the aerospace company’s stock valued at $591,523,000 after acquiring an additional 1,167,105 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Textron during the fourth quarter valued at about $41,451,000. Boston Partners raised its holdings in Textron by 4.7% in the fourth quarter. Boston Partners now owns 7,483,692 shares of the aerospace company’s stock worth $572,465,000 after purchasing an additional 333,127 shares in the last quarter. Brandes Investment Partners LP lifted its position in shares of Textron by 19.4% during the fourth quarter. Brandes Investment Partners LP now owns 1,859,703 shares of the aerospace company’s stock valued at $142,249,000 after buying an additional 302,712 shares during the last quarter. Finally, Wellington Management Group LLP boosted its holdings in shares of Textron by 50.2% in the 4th quarter. Wellington Management Group LLP now owns 603,171 shares of the aerospace company’s stock valued at $46,137,000 after buying an additional 201,696 shares in 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 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 completion of the transaction, the vice president now owns 18,223 shares of the company’s stock, valued at approximately $1,324,447.64. The trade was a 23.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.70% of the stock is owned by company insiders.

Textron Stock Up 1.0 %

TXT stock opened at $66.10 on Thursday. The company has a market capitalization of $12.00 billion, a P/E ratio of 15.34, a price-to-earnings-growth ratio of 1.18 and a beta of 1.06. Textron Inc. has a 12 month low of $57.70 and a 12 month high of $95.86. The firm’s fifty day simple moving average is $70.38 and its 200-day simple moving average is $77.34. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.76 and a quick ratio of 0.84.

Textron (NYSE:TXT) last posted its quarterly earnings results 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 net margin of 6.01% and a return on equity of 14.92%. The firm’s revenue was down 7.2% on a year-over-year basis. During the same period in the prior year, the company earned $1.60 earnings per share. As a group, equities research analysts forecast that Textron Inc. will post 6.12 earnings per share for the current year.

Textron Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be given a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.12%. Textron’s dividend payout ratio is currently 1.86%.

Analysts Set New Price Targets

TXT has been the subject of a number of analyst reports. Vertical Research raised shares of Textron from a “hold” rating to a “buy” rating and set a $91.00 target price for the company in a research report on Monday, January 6th. Bank of America cut Textron from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $110.00 to $85.00 in a research report on Friday, January 24th. Citigroup reduced their target price on Textron from $111.00 to $107.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. TD Cowen upgraded Textron to a “hold” rating in a research note on Monday, February 24th. Finally, Susquehanna decreased their price objective on shares of Textron from $100.00 to $90.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $89.30.

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.