Textron Inc. (NYSE:TXT) Shares Sold by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S cut its holdings in shares of Textron Inc. (NYSE:TXT) by 50.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,243 shares of the aerospace company’s stock after selling 3,302 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Textron were worth $248,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Invesco Ltd. boosted its stake in Textron by 17.8% during the fourth quarter. Invesco Ltd. now owns 7,733,335 shares of the aerospace company’s stock worth $591,523,000 after buying an additional 1,167,105 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Textron in the fourth quarter valued at about $41,451,000. Boston Partners increased its position in 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. Brandes Investment Partners LP raised 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 purchasing an additional 302,712 shares during the period. Finally, Marshall Wace LLP acquired a new position in Textron in the 4th quarter valued at about $22,370,000. Hedge funds and other institutional investors own 86.03% of the company’s stock.

Textron Price Performance

Shares of TXT opened at $68.07 on Friday. 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 Inc. has a fifty-two week low of $57.70 and a fifty-two week high of $94.57. The company has a market cap of $12.36 billion, a P/E ratio of 15.79, a PEG ratio of 1.18 and a beta of 1.06. The firm’s 50 day moving average price is $70.29 and its 200 day moving average price is $77.22.

Textron (NYSE:TXT) last announced its quarterly earnings data on Thursday, April 24th. The aerospace company reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.05. Textron had a return on equity of 14.92% and a net margin of 6.01%. On average, research analysts forecast that Textron Inc. will post 6.12 earnings per share for the current fiscal year.

Textron Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be paid a dividend of $0.02 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.12%. Textron’s payout ratio is 1.86%.

Wall Street Analysts Forecast Growth

TXT has been the topic of several analyst reports. Susquehanna reduced their price target on shares of Textron from $100.00 to $90.00 and set a “positive” rating on the stock in a research report on Wednesday, January 8th. Morgan Stanley decreased their price target on Textron from $82.00 to $71.00 and set an “equal weight” rating on the stock in a research note on Friday, April 11th. Bank of America downgraded Textron from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $110.00 to $85.00 in a research report on Friday, January 24th. JPMorgan Chase & Co. decreased their target price on shares of Textron from $90.00 to $88.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Finally, Vertical Research upgraded shares of Textron from a “hold” rating to a “buy” rating and set a $91.00 price target for the company in a research report on Monday, January 6th. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Textron currently has a consensus rating of “Hold” and a consensus target price of $89.30.

Insider Activity at Textron

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