Gotham Asset Management LLC Sells 20,327 Shares of Textron Inc. (NYSE:TXT)

Gotham Asset Management LLC lowered its stake in Textron Inc. (NYSE:TXT) by 62.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 12,090 shares of the aerospace company’s stock after selling 20,327 shares during the quarter. Gotham Asset Management LLC’s holdings in Textron were worth $925,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. SBI Securities Co. Ltd. bought a new stake in Textron in the fourth quarter valued at approximately $31,000. Optiver Holding B.V. bought a new stake in Textron in the fourth quarter valued at approximately $56,000. Golden State Wealth Management LLC bought a new stake in Textron in the fourth quarter valued at approximately $63,000. McClarren Financial Advisors Inc. bought a new stake in Textron in the fourth quarter valued at approximately $68,000. Finally, Geneos Wealth Management Inc. lifted its position in Textron by 33.0% in the fourth quarter. Geneos Wealth Management Inc. now owns 964 shares of the aerospace company’s stock valued at $74,000 after purchasing an additional 239 shares during the last quarter. Institutional investors own 86.03% of the company’s stock.

Insider Buying and Selling

In other news, VP Mark S. Bamford sold 5,451 shares of the 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 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.70% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts have weighed in on TXT shares. Citigroup lowered their price objective on Textron from $111.00 to $107.00 and set a “buy” rating for the company in a research report on Thursday, April 10th. UBS Group boosted their target price on Textron from $62.00 to $63.00 and gave the company a “sell” rating in a research note on Monday, April 28th. TD Cowen raised Textron to a “hold” rating in a research note on Monday, February 24th. Robert W. Baird reduced their target price on Textron from $100.00 to $92.00 and set an “outperform” rating on the stock in a research note on Thursday, January 23rd. Finally, Morgan Stanley reduced their target price 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. One analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Textron has a consensus rating of “Hold” and an average price target of $87.70.

Textron Price Performance

Shares of TXT stock opened at $76.69 on Friday. The stock has a market cap of $13.84 billion, a price-to-earnings ratio of 17.79, a PEG ratio of 1.18 and a beta of 1.20. The business’s fifty day moving average is $69.99 and its 200 day moving average is $75.61. Textron Inc. has a twelve month low of $57.70 and a twelve month 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.

Textron (NYSE:TXT) last issued its quarterly earnings results on Thursday, April 24th. The aerospace company reported $1.28 earnings per share for the quarter, topping the consensus estimate 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 return on equity of 14.92% and a net margin of 6.01%. The firm’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.20 earnings per share. Research analysts expect that Textron Inc. will post 6.12 EPS for the current fiscal year.

Textron Dividend Announcement

The company also recently declared 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. The ex-dividend date is Friday, June 13th. This represents a $0.08 annualized dividend and a yield of 0.10%. Textron’s payout ratio is 1.81%.

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.