JPMorgan Chase & Co. Decreases Stake in Textron Inc. (NYSE:TXT)

JPMorgan Chase & Co. decreased its holdings in Textron Inc. (NYSE:TXT) by 0.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,877,256 shares of the aerospace company’s stock after selling 46,372 shares during the quarter. JPMorgan Chase & Co.’s holdings in Textron were worth $449,551,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of TXT. Merit Financial Group LLC grew its stake in shares of Textron by 5.9% during the 4th quarter. Merit Financial Group LLC now owns 4,784 shares of the aerospace company’s stock worth $366,000 after purchasing an additional 265 shares during the period. Empowered Funds LLC grew its position in Textron by 28.6% during the fourth quarter. Empowered Funds LLC now owns 20,132 shares of the aerospace company’s stock worth $1,540,000 after buying an additional 4,480 shares during the period. Franklin Resources Inc. increased its holdings in Textron by 10.3% in the third quarter. Franklin Resources Inc. now owns 164,029 shares of the aerospace company’s stock valued at $14,505,000 after buying an additional 15,294 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Textron by 44.6% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,390 shares of the aerospace company’s stock valued at $1,343,000 after acquiring an additional 5,367 shares during the period. Finally, Todd Asset Management LLC boosted its stake in shares of Textron by 1.8% during the 4th quarter. Todd Asset Management LLC now owns 470,292 shares of the aerospace company’s stock worth $35,973,000 after acquiring an additional 8,198 shares in the last quarter. Institutional investors and hedge funds own 86.03% of the company’s stock.

Insider Buying and Selling

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 completion of 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.70% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Vertical Research raised Textron from a “hold” rating to a “buy” rating and set a $91.00 price objective for the company in a report on Monday, January 6th. Bank of America downgraded Textron from a “buy” rating to a “neutral” rating and cut their price target for the stock from $110.00 to $85.00 in a research note on Friday, January 24th. JPMorgan Chase & Co. lowered their price objective on shares of Textron from $90.00 to $88.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Barclays cut their target price on shares of Textron from $104.00 to $95.00 and set an “overweight” rating for the company in a research report on Monday, December 23rd. Finally, Citigroup lowered their price target on shares of Textron from $118.00 to $111.00 and set a “buy” rating on the stock in a research report on Tuesday, January 21st. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $93.45.

Textron Trading Down 3.1 %

Shares of TXT opened at $72.92 on Friday. Textron Inc. has a fifty-two week low of $70.14 and a fifty-two week high of $97.34. The company has a market capitalization of $13.24 billion, a PE ratio of 16.92, a price-to-earnings-growth ratio of 1.18 and a beta of 1.27. The stock has a fifty day moving average of $74.49 and a two-hundred day moving average of $80.21. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.84 and a current ratio of 1.76.

Textron (NYSE:TXT) last released its earnings results on Wednesday, January 22nd. The aerospace company reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.07. The firm had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $3.78 billion. Textron had a return on equity of 14.92% and a net margin of 6.01%. The firm’s revenue for the quarter was down 7.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.60 earnings per share. As a group, analysts forecast that Textron Inc. will post 6.12 EPS for the current year.

Textron Dividend Announcement

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