Natixis Advisors LLC Decreases Stake in Textron Inc. (NYSE:TXT)

Natixis Advisors LLC reduced its stake in Textron Inc. (NYSE:TXT) by 13.0% during the fourth quarter, Holdings Channel.com reports. The firm owned 217,548 shares of the aerospace company’s stock after selling 32,468 shares during the period. Natixis Advisors LLC’s holdings in Textron were worth $16,640,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of TXT. 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 purchasing an additional 125 shares during the period. KBC Group NV purchased a new position in Textron in the 3rd quarter worth approximately $1,797,000. CIBC Asset Management Inc increased its stake in Textron by 6.7% in the 3rd quarter. CIBC Asset Management Inc now owns 27,528 shares of the aerospace company’s stock worth $2,438,000 after purchasing an additional 1,728 shares during the period. Empowered Funds LLC increased its stake in Textron by 32.2% in the 3rd quarter. Empowered Funds LLC now owns 15,652 shares of the aerospace company’s stock worth $1,386,000 after purchasing an additional 3,814 shares during the period. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Textron in the 3rd quarter worth approximately $4,588,000. 86.03% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling 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 stock was sold at an average price of $72.68, for a total transaction of $396,178.68. Following the completion of the transaction, the vice president now owns 18,223 shares in the company, valued at approximately $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 can be accessed through this hyperlink. 1.70% of the stock is owned by company insiders.

Textron Stock Down 0.6 %

Shares of NYSE:TXT opened at $74.17 on Wednesday. The stock has a fifty day simple moving average of $75.02 and a two-hundred day simple moving average of $80.93. The stock has a market capitalization of $13.47 billion, a price-to-earnings ratio of 17.21, a PEG ratio of 1.18 and a beta of 1.27. Textron Inc. has a 12-month low of $70.14 and a 12-month high of $97.34. The company has a current ratio of 1.76, a quick ratio of 0.84 and a debt-to-equity ratio of 0.45.

Textron (NYSE:TXT) last announced 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. The business had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $3.78 billion. Textron had a return on equity of 14.92% and a net margin of 6.01%. The firm’s quarterly revenue was down 7.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.60 earnings per share. On average, research analysts anticipate that Textron Inc. will post 6.12 earnings per share 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 paid 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 payout ratio is 1.86%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on TXT shares. Citigroup cut their price objective on Textron from $118.00 to $111.00 and set a “buy” rating on the stock in a research report on Tuesday, January 21st. JPMorgan Chase & Co. cut their price objective on Textron from $90.00 to $88.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. TD Cowen upgraded Textron to a “hold” rating in a research report on Monday, February 24th. Morgan Stanley cut their price objective 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, Susquehanna cut their price objective on Textron from $100.00 to $90.00 and set a “positive” rating on the stock in a research report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Textron has an average rating of “Moderate Buy” and a consensus target price of $93.45.

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.