Textron Inc. (NYSE:TXT) Holdings Lowered by American International Group Inc.

American International Group Inc. lowered its stake in Textron Inc. (NYSE:TXT) by 1.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 51,395 shares of the aerospace company’s stock after selling 1,013 shares during the quarter. American International Group Inc.’s holdings in Textron were worth $4,133,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Adage Capital Partners GP L.L.C. boosted its holdings in shares of Textron by 93.7% in the third quarter. Adage Capital Partners GP L.L.C. now owns 1,474,191 shares of the aerospace company’s stock worth $115,193,000 after buying an additional 713,169 shares during the period. JPMorgan Chase & Co. grew its position in Textron by 11.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,745,108 shares of the aerospace company’s stock worth $448,923,000 after purchasing an additional 596,214 shares in the last quarter. LSV Asset Management raised its stake in Textron by 15.9% during the 4th quarter. LSV Asset Management now owns 3,793,047 shares of the aerospace company’s stock valued at $305,037,000 after purchasing an additional 521,276 shares during the period. International Assets Investment Management LLC acquired a new stake in Textron during the 4th quarter valued at $394,347,000. Finally, Brandes Investment Partners LP lifted its holdings in shares of Textron by 49.3% in the fourth quarter. Brandes Investment Partners LP now owns 1,235,966 shares of the aerospace company’s stock valued at $99,396,000 after purchasing an additional 408,290 shares in the last quarter. Institutional investors and hedge funds own 86.03% of the company’s stock.

Insider Activity

In related news, Director Kathleen M. Bader sold 11,870 shares of Textron stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $87.91, for a total transaction of $1,043,491.70. Following the sale, the director now directly owns 3,756 shares of the company’s stock, valued at $330,189.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 1.70% of the stock is owned by company insiders.

Textron Stock Performance

NYSE:TXT opened at $86.74 on Monday. The firm has a market capitalization of $16.54 billion, a PE ratio of 18.53, a PEG ratio of 1.37 and a beta of 1.28. The company has a current ratio of 1.81, a quick ratio of 0.84 and a debt-to-equity ratio of 0.46. Textron Inc. has a 1 year low of $64.42 and a 1 year high of $97.33. The firm’s fifty day simple moving average is $87.93 and its 200 day simple moving average is $86.75.

Textron (NYSE:TXT) last posted its quarterly earnings data on Thursday, April 25th. The aerospace company reported $1.20 earnings per share for the quarter, missing the consensus estimate of $1.28 by ($0.08). The business had revenue of $3.14 billion for the quarter, compared to analyst estimates of $3.29 billion. Textron had a return on equity of 16.30% and a net margin of 6.75%. Textron’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.05 EPS. On average, sell-side analysts anticipate that Textron Inc. will post 6.27 EPS for the current year.

Textron Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be issued a dividend of $0.02 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.08 annualized dividend and a dividend yield of 0.09%. Textron’s payout ratio is 1.71%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on TXT shares. The Goldman Sachs Group upped their price target on Textron from $103.00 to $120.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Susquehanna reduced their price target on shares of Textron from $110.00 to $105.00 and set a “positive” rating for the company in a research report on Friday, April 26th. Bank of America upgraded shares of Textron from a “neutral” rating to a “buy” rating and raised their price target for the stock from $85.00 to $105.00 in a report on Friday, March 8th. StockNews.com lowered shares of Textron from a “strong-buy” rating to a “buy” rating in a research note on Friday, April 26th. Finally, Citigroup boosted their target price on Textron from $104.00 to $111.00 and gave the company a “buy” rating in a research note on Thursday, April 4th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $99.29.

Textron 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.