EP Wealth Advisors LLC Sells 2,966 Shares of Textron Inc. (NYSE:TXT)

EP Wealth Advisors LLC reduced its position in shares of Textron Inc. (NYSE:TXT) by 17.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 13,732 shares of the aerospace company’s stock after selling 2,966 shares during the quarter. EP Wealth Advisors LLC’s holdings in Textron were worth $1,050,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Pflug Koory LLC increased its position in shares of Textron by 0.9% during the fourth quarter. Pflug Koory LLC now owns 13,778 shares of the aerospace company’s stock valued at $1,054,000 after acquiring an additional 125 shares in the last quarter. V Square Quantitative Management LLC raised its stake in shares of Textron by 5.7% in the fourth quarter. V Square Quantitative Management LLC now owns 2,611 shares of the aerospace company’s stock worth $200,000 after purchasing an additional 141 shares during the last quarter. Syon Capital LLC lifted its holdings in shares of Textron by 4.5% during the fourth quarter. Syon Capital LLC now owns 3,538 shares of the aerospace company’s stock valued at $271,000 after purchasing an additional 153 shares in the last quarter. Patriot Financial Group Insurance Agency LLC boosted its position in shares of Textron by 5.8% during the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 2,977 shares of the aerospace company’s stock valued at $228,000 after buying an additional 163 shares during the last quarter. Finally, Motley Fool Asset Management LLC increased its holdings in Textron by 6.3% in the 4th quarter. Motley Fool Asset Management LLC now owns 2,732 shares of the aerospace company’s stock worth $209,000 after buying an additional 163 shares in the last quarter. 86.03% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Textron news, VP Mark S. Bamford sold 5,451 shares of the company’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 value of $396,178.68. Following the completion of the transaction, the vice president now directly owns 18,223 shares in the company, valued at $1,324,447.64. This represents a 23.03 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.70% of the stock is currently owned by company insiders.

Textron Stock Up 0.2 %

NYSE TXT opened at $72.36 on Friday. Textron Inc. has a 52 week low of $57.70 and a 52 week high of $94.57. 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 company has a market capitalization of $13.06 billion, a P/E ratio of 16.79, a price-to-earnings-growth ratio of 1.18 and a beta of 1.20. The stock’s 50-day moving average price is $69.78 and its 200-day moving average price is $75.82.

Textron (NYSE:TXT) last released its earnings results on Thursday, April 24th. The aerospace company reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.17 by $0.11. The company had revenue of $3.31 billion for the quarter, compared to analysts’ expectations of $3.26 billion. Textron had a net margin of 6.01% and a return on equity of 14.92%. The firm’s revenue was up 5.5% compared to the same quarter last year. During the same quarter last year, the business earned $1.20 EPS. On average, equities research analysts predict that Textron Inc. will post 6.12 earnings per share for the current 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 issued a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.11%. The ex-dividend date of this dividend is Friday, June 13th. Textron’s dividend payout ratio is currently 1.81%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Robert W. Baird dropped their price target on shares of Textron from $100.00 to $92.00 and set an “outperform” rating on the stock in a report on Thursday, January 23rd. JPMorgan Chase & Co. dropped their target price on shares of Textron from $90.00 to $88.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Bank of America downgraded Textron from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $110.00 to $85.00 in a research note on Friday, January 24th. Morgan Stanley reduced their price objective on Textron from $82.00 to $71.00 and set an “equal weight” rating for the company in a research report on Friday, April 11th. Finally, Citigroup cut their price target on Textron from $111.00 to $107.00 and set a “buy” rating for the company in a research note on Thursday, April 10th. One analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $87.70.

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.