Sovereign Investment Advisors LLC Takes Position in Textron Inc. (NYSE:TXT)

Sovereign Investment Advisors LLC bought a new stake in Textron Inc. (NYSE:TXT) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 4,925 shares of the aerospace company’s stock, valued at approximately $377,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Atria Investments Inc raised its position in Textron by 2.5% during the 3rd quarter. Atria Investments Inc now owns 12,282 shares of the aerospace company’s stock valued at $1,088,000 after purchasing an additional 299 shares during the last quarter. Venturi Wealth Management LLC raised its position in shares of Textron by 69.5% in the 3rd quarter. Venturi Wealth Management LLC now owns 566 shares of the aerospace company’s stock worth $50,000 after acquiring an additional 232 shares in the last quarter. Apollon Wealth Management LLC raised its position in shares of 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 in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its position in shares of Textron by 0.9% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 471,039 shares of the aerospace company’s stock worth $41,725,000 after acquiring an additional 4,327 shares in the last quarter. Finally, KBC Group NV bought a new position in shares of Textron in the 3rd quarter worth approximately $1,797,000. Institutional investors own 86.03% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Robert W. Baird cut their price target on Textron from $100.00 to $92.00 and set an “outperform” rating on the stock in a research note on Thursday, January 23rd. Barclays cut their target price on Textron from $104.00 to $95.00 and set an “overweight” rating on the stock in a research note on Monday, December 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 note on Thursday, January 23rd. Vertical Research raised Textron from a “hold” rating to a “buy” rating and set a $91.00 price target on the stock in a report on Monday, January 6th. Finally, Bank of America cut Textron from a “buy” rating to a “neutral” rating and lowered their price target for the company from $110.00 to $85.00 in a report on Friday, January 24th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $93.45.

Insiders Place Their Bets

In other news, VP Mark S. Bamford sold 5,451 shares of the business’s stock in a transaction 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 sale, the vice president now directly owns 18,223 shares of the company’s stock, valued at $1,324,447.64. The trade was a 23.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.70% of the company’s stock.

Textron Stock Performance

Shares of NYSE:TXT opened at $73.38 on Friday. The company has a market capitalization of $13.33 billion, a price-to-earnings ratio of 17.02, a price-to-earnings-growth ratio of 1.18 and a beta of 1.26. 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 firm has a 50 day moving average of $75.06 and a 200 day moving average of $81.22.

Textron (NYSE:TXT) last released its quarterly earnings results on Wednesday, January 22nd. The aerospace company reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.07. Textron had a net margin of 6.01% and a return on equity of 14.92%. The business 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 company earned $1.60 earnings per share. The business’s revenue for the quarter was down 7.2% on a year-over-year basis. On average, sell-side analysts predict 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. Shareholders of record on Friday, March 14th will be issued a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.11%. The ex-dividend date of this dividend is Friday, March 14th. Textron’s dividend payout ratio is currently 1.86%.

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.