Swiss National Bank Sells 36,700 Shares of Textron Inc. (NYSE:TXT)

Swiss National Bank lessened its holdings in shares of Textron Inc. (NYSE:TXT) by 6.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 529,289 shares of the aerospace company’s stock after selling 36,700 shares during the quarter. Swiss National Bank owned about 0.29% of Textron worth $40,485,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Empirical Finance LLC increased its stake in Textron by 1.7% in the 3rd quarter. Empirical Finance LLC now owns 7,047 shares of the aerospace company’s stock worth $624,000 after acquiring an additional 115 shares during the last quarter. Apollon Wealth Management LLC increased its stake in Textron by 4.9% in the 3rd quarter. Apollon Wealth Management LLC now owns 2,655 shares of the aerospace company’s stock worth $235,000 after acquiring an additional 125 shares during the last quarter. Pflug Koory LLC increased its stake in Textron by 0.9% in the 4th 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 last quarter. V Square Quantitative Management LLC increased its stake in Textron by 5.7% in 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. Finally, Patriot Financial Group Insurance Agency LLC increased its stake in Textron by 5.8% in the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 2,977 shares of the aerospace company’s stock worth $228,000 after acquiring an additional 163 shares during the last quarter. Institutional investors own 86.03% of the company’s stock.

Insiders Place Their Bets

In other Textron news, VP Mark S. Bamford sold 5,451 shares of the company’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $72.68, for a total value 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. This represents a 23.03 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.70% of the company’s stock.

Analyst Ratings Changes

TXT has been the topic of a number of research reports. Susquehanna reduced their price objective on Textron from $100.00 to $90.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. Citigroup cut their target price on Textron from $118.00 to $111.00 and set a “buy” rating on the stock in a research report on Tuesday, January 21st. Robert W. Baird cut their target price on Textron from $100.00 to $92.00 and set an “outperform” rating on the stock in a research report on Thursday, January 23rd. Morgan Stanley cut their target price on Textron from $86.00 to $82.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 23rd. Finally, TD Cowen raised Textron to a “hold” rating in a research report on Monday, February 24th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Textron currently has an average rating of “Moderate Buy” and a consensus target price of $93.45.

Textron Price Performance

TXT opened at $73.38 on Monday. The business has a fifty day moving average of $75.06 and a 200 day moving average of $81.16. Textron Inc. has a 52-week low of $70.14 and a 52-week high of $97.34. 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 stock has a market cap of $13.33 billion, a P/E ratio of 17.02, a PEG ratio of 1.18 and a beta of 1.27.

Textron (NYSE:TXT) last posted its quarterly earnings data on Wednesday, January 22nd. The aerospace company reported $1.34 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $3.78 billion. During the same quarter in the previous year, the business earned $1.60 EPS. Textron’s revenue was down 7.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Textron Inc. will post 6.12 EPS for the current year.

Textron Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.11%. The ex-dividend date of this dividend is Friday, March 14th. Textron’s dividend payout ratio 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.