Textron Inc. (NYSE:TXT) Shares Bought by Vident Advisory LLC

Vident Advisory LLC boosted its holdings in shares of Textron Inc. (NYSE:TXT) by 26.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 121,641 shares of the aerospace company’s stock after buying an additional 25,483 shares during the quarter. Vident Advisory LLC owned 0.07% of Textron worth $9,304,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in TXT. SBI Securities Co. Ltd. acquired a new stake in Textron during the 4th quarter worth approximately $31,000. Optiver Holding B.V. acquired a new stake in Textron during the 4th quarter worth approximately $56,000. Golden State Wealth Management LLC acquired a new stake in Textron during the 4th quarter worth approximately $63,000. McClarren Financial Advisors Inc. acquired a new stake in Textron during the 4th quarter worth approximately $68,000. Finally, Geneos Wealth Management Inc. lifted its holdings in Textron by 33.0% during the 4th quarter. Geneos Wealth Management Inc. now owns 964 shares of the aerospace company’s stock worth $74,000 after buying an additional 239 shares in the last quarter. 86.03% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TXT has been the topic of a number of recent analyst reports. Bank of America downgraded shares of Textron from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $110.00 to $85.00 in a research report on Friday, January 24th. Morgan Stanley dropped their price objective on shares of Textron from $82.00 to $71.00 and set an “equal weight” rating on the stock in a research report on Friday, April 11th. TD Cowen raised shares of Textron to a “hold” rating in a research report on Monday, February 24th. Robert W. Baird dropped their price objective on shares of Textron from $100.00 to $92.00 and set an “outperform” rating on the stock in a research report on Thursday, January 23rd. Finally, Citigroup dropped their price objective on shares of Textron from $111.00 to $107.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $87.70.

Textron Trading Down 0.3%

NYSE TXT opened at $76.42 on Tuesday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.76 and a quick ratio of 0.84. The firm’s fifty day moving average price is $70.07 and its 200 day moving average price is $75.54. The company has a market capitalization of $13.80 billion, a price-to-earnings ratio of 17.73, a price-to-earnings-growth ratio of 1.18 and a beta of 1.20. Textron Inc. has a 12 month low of $57.70 and a 12 month high of $94.57.

Textron (NYSE:TXT) last posted its earnings results on Thursday, April 24th. The aerospace company reported $1.28 EPS for the quarter, beating analysts’ consensus estimates of $1.17 by $0.11. The firm had revenue of $3.31 billion for the quarter, compared to the consensus estimate of $3.26 billion. Textron had a net margin of 6.01% and a return on equity of 14.92%. The company’s revenue was up 5.5% on a year-over-year basis. During the same period last year, the firm posted $1.20 EPS. On average, sell-side analysts expect that Textron Inc. will post 6.12 earnings per share for the current fiscal year.

Textron Announces Dividend

The firm 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 dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.10%. The ex-dividend date of this dividend is Friday, June 13th. Textron’s dividend payout ratio is currently 1.81%.

Insider Buying and Selling

In related news, VP Mark S. Bamford sold 5,451 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $72.68, for a total transaction of $396,178.68. Following the completion of the sale, the vice president now owns 18,223 shares in the company, valued at $1,324,447.64. This represents a 23.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.70% of the stock is owned by company 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.