Textron Inc. (NYSE:TXT) Shares Sold by Ensign Peak Advisors Inc

Ensign Peak Advisors Inc reduced its stake in shares of Textron Inc. (NYSE:TXT) by 6.3% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 218,759 shares of the aerospace company’s stock after selling 14,664 shares during the period. Ensign Peak Advisors Inc owned approximately 0.12% of Textron worth $16,733,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. SBI Securities Co. Ltd. acquired a new stake in shares of Textron during the 4th quarter valued at about $31,000. Eastern Bank purchased a new stake in Textron during the 4th quarter valued at about $42,000. Optiver Holding B.V. purchased a new position in Textron in the 4th quarter worth approximately $56,000. Golden State Wealth Management LLC acquired a new position in shares of Textron during the 4th quarter worth approximately $63,000. Finally, McClarren Financial Advisors Inc. purchased a new stake in Textron in the 4th quarter valued at $68,000. 86.03% of the stock is currently owned by hedge funds and other institutional investors.

Textron Stock Up 0.2%

Shares of NYSE:TXT opened at $72.36 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 company has a market cap of $13.06 billion, a price-to-earnings ratio of 16.79, a PEG ratio of 1.18 and a beta of 1.20. Textron Inc. has a fifty-two week low of $57.70 and a fifty-two week high of $94.57. The firm’s 50-day simple moving average is $69.78 and its 200-day simple moving average is $75.78.

Textron (NYSE:TXT) last posted its quarterly earnings results on Thursday, April 24th. The aerospace company reported $1.28 EPS for the quarter, beating the consensus estimate of $1.17 by $0.11. Textron had a return on equity of 14.92% and a net margin of 6.01%. The business had revenue of $3.31 billion during the quarter, compared to analysts’ expectations of $3.26 billion. During the same period last year, the firm earned $1.20 EPS. The company’s quarterly revenue was up 5.5% compared to the same quarter last year. As a group, equities research analysts predict that Textron Inc. will post 6.12 earnings per share for the current year.

Textron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be paid a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.11%. The ex-dividend date of this dividend is Friday, June 13th. Textron’s dividend payout ratio (DPR) is 1.81%.

Wall Street Analyst Weigh In

TXT has been the topic of several analyst reports. JPMorgan Chase & Co. reduced their price target 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. Bank of America cut shares of Textron from a “buy” rating to a “neutral” rating and decreased their price target for the company from $110.00 to $85.00 in a research report on Friday, January 24th. Morgan Stanley decreased their price target on shares of Textron from $82.00 to $71.00 and set an “equal weight” rating for the company in a research note on Friday, April 11th. Robert W. Baird cut their target price on Textron from $100.00 to $92.00 and set an “outperform” rating on the stock in a research report on Thursday, January 23rd. Finally, UBS Group upped their price objective on shares of Textron from $62.00 to $63.00 and gave the company a “sell” rating in a research note on Monday, April 28th. One investment 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. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $87.70.

Insider Buying and Selling

In other news, VP Mark S. Bamford sold 5,451 shares of the firm’s stock in a transaction 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 owns 18,223 shares in the company, valued at $1,324,447.64. This trade represents a 23.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.70% of the stock is owned by insiders.

About Textron

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.