United Capital Financial Advisors LLC Cuts Stock Holdings in Textron Inc. (NYSE:TXT)

United Capital Financial Advisors LLC cut its stake in shares of Textron Inc. (NYSE:TXT) by 12.3% in the 4th quarter, Holdings Channel reports. The institutional investor owned 6,059 shares of the aerospace company’s stock after selling 853 shares during the quarter. United Capital Financial Advisors LLC’s holdings in Textron were worth $463,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Invesco Ltd. grew its position in Textron by 17.8% during the fourth 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 during the period. Boston Partners increased its position in Textron by 4.7% during the 4th 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. Geode Capital Management LLC lifted its position in Textron by 3.7% during the fourth quarter. Geode Capital Management LLC now owns 4,595,861 shares of the aerospace company’s stock valued at $350,619,000 after buying an additional 164,964 shares in the last quarter. Brandes Investment Partners LP grew its stake in Textron by 19.4% during the fourth quarter. Brandes Investment Partners LP now owns 1,859,703 shares of the aerospace company’s stock worth $142,249,000 after buying an additional 302,712 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Textron by 0.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,678,854 shares of the aerospace company’s stock valued at $128,416,000 after acquiring an additional 7,610 shares during the period. 86.03% of the stock is currently owned by institutional investors and hedge funds.

Textron Price Performance

Shares of NYSE:TXT opened at $66.00 on Monday. 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 simple moving average of $70.82 and a 200 day simple moving average of $77.66. Textron Inc. has a fifty-two week low of $57.70 and a fifty-two week high of $95.86. The company has a market cap of $11.99 billion, a PE ratio of 15.31, a P/E/G ratio of 1.18 and a beta of 1.06.

Textron (NYSE:TXT) last issued 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. Textron had a return on equity of 14.92% and a net margin of 6.01%. The firm had revenue of $3.61 billion for the quarter, compared to analyst estimates of $3.78 billion. During the same period last year, the company earned $1.60 earnings per share. The firm’s revenue for the quarter was down 7.2% on a year-over-year basis. On average, sell-side analysts anticipate that Textron Inc. will post 6.12 EPS for the current year.

Textron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were given a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.12%. The ex-dividend date was Friday, March 14th. Textron’s dividend payout ratio is currently 1.86%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on TXT shares. Barclays lowered their price target on Textron from $104.00 to $95.00 and set an “overweight” rating for the company in a report on Monday, December 23rd. Vertical Research upgraded shares of Textron from a “hold” rating to a “buy” rating and set a $91.00 price objective on the stock in a research note on Monday, January 6th. Robert W. Baird decreased their target price on shares of Textron from $100.00 to $92.00 and set an “outperform” rating for the company in a research note on Thursday, January 23rd. Citigroup decreased their price objective on shares of Textron from $111.00 to $107.00 and set a “buy” rating for the company in a research report on Thursday, April 10th. Finally, JPMorgan Chase & Co. reduced their price target on Textron from $90.00 to $88.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $89.30.

Insider Buying and Selling at Textron

In related news, VP Mark S. Bamford sold 5,451 shares of the business’s stock in a transaction that occurred 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 sale, the vice president now 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.70% of the stock is owned by company insiders.

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.