Textron Inc. (NYSE:TXT) Shares Sold by CANADA LIFE ASSURANCE Co

CANADA LIFE ASSURANCE Co lessened its position in shares of Textron Inc. (NYSE:TXT) by 5.9% during the 4th quarter, Holdings Channel reports. The firm owned 71,406 shares of the aerospace company’s stock after selling 4,477 shares during the quarter. CANADA LIFE ASSURANCE Co’s holdings in Textron were worth $5,456,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of TXT. Invesco Ltd. lifted its stake in Textron by 17.8% during the 4th 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 raised its holdings in shares of Textron by 4.7% during the fourth 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 during 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 purchasing an additional 164,964 shares during the period. Brandes Investment Partners LP boosted its holdings in Textron by 19.4% in the fourth quarter. Brandes Investment Partners LP now owns 1,859,703 shares of the aerospace company’s stock valued at $142,249,000 after purchasing an additional 302,712 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Textron by 0.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,678,854 shares of the aerospace company’s stock worth $128,416,000 after purchasing an additional 7,610 shares during the period. Institutional investors and hedge funds own 86.03% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on TXT shares. JPMorgan Chase & Co. decreased their price objective on Textron from $90.00 to $88.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. TD Cowen raised shares of Textron to a “hold” rating in a report on Monday, February 24th. Bank of America downgraded shares of Textron from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $110.00 to $85.00 in a report on Friday, January 24th. Morgan Stanley cut their price objective on shares of Textron from $82.00 to $71.00 and set an “equal weight” rating for the company in a report on Friday, April 11th. Finally, Susquehanna lowered their target price on shares of Textron from $100.00 to $90.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $89.30.

Textron Stock Up 1.0 %

TXT opened at $66.10 on Thursday. The company has a market cap of $12.00 billion, a PE ratio of 15.34, a price-to-earnings-growth ratio of 1.18 and a beta of 1.06. Textron Inc. has a twelve month low of $57.70 and a twelve month high of $95.86. The company has a 50-day moving average price of $70.38 and a 200 day moving average price of $77.34. The company has a quick ratio of 0.84, a current ratio of 1.76 and a debt-to-equity ratio of 0.45.

Textron (NYSE:TXT) last announced its earnings results on Wednesday, January 22nd. The aerospace company reported $1.34 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 business’s revenue was down 7.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.60 earnings per share. Sell-side analysts expect that Textron Inc. will post 6.12 earnings per share for the current fiscal year.

Textron Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be issued a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.12%. Textron’s payout ratio is currently 1.86%.

Insider Buying and Selling at Textron

In other news, VP Mark S. Bamford sold 5,451 shares of the firm’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $72.68, for a total value of $396,178.68. Following the transaction, the vice president now directly owns 18,223 shares of the company’s stock, valued at approximately $1,324,447.64. This trade represents a 23.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 1.70% of the stock is currently owned by insiders.

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.