Sanctuary Advisors LLC Has $743,000 Holdings in Textron Inc. (NYSE:TXT)

Sanctuary Advisors LLC lessened its holdings in shares of Textron Inc. (NYSE:TXT) by 6.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,690 shares of the aerospace company’s stock after selling 652 shares during the period. Sanctuary Advisors LLC’s holdings in Textron were worth $743,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in TXT. True Wealth Design LLC bought a new stake in shares of Textron during the 3rd quarter worth approximately $26,000. Capital Performance Advisors LLP bought a new stake in shares of Textron during the 3rd quarter worth approximately $42,000. Eastern Bank bought a new stake in shares of Textron during the 4th quarter worth approximately $42,000. Truvestments Capital LLC bought a new stake in shares of Textron during the 3rd quarter worth approximately $43,000. Finally, Venturi Wealth Management LLC lifted its holdings in shares of Textron by 69.5% during the 3rd quarter. Venturi Wealth Management LLC now owns 566 shares of the aerospace company’s stock worth $50,000 after acquiring an additional 232 shares during the period. Institutional investors and hedge funds own 86.03% of the company’s stock.

Insider Activity

In other 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 directly owns 18,223 shares in the company, valued at $1,324,447.64. This represents a 23.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 1.70% of the company’s stock.

Textron Price Performance

TXT stock opened at $74.76 on Friday. The company has a fifty day moving average price of $75.73 and a 200-day moving average price of $82.32. The company has a market capitalization of $13.65 billion, a P/E ratio of 17.34, a PEG ratio of 1.18 and a beta of 1.27. Textron Inc. has a 52-week low of $71.67 and a 52-week high of $97.33. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.84 and a current ratio of 1.76.

Textron (NYSE:TXT) last released its quarterly earnings results on Wednesday, January 22nd. The aerospace company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.07. The firm had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.78 billion. Textron had a net margin of 6.01% and a return on equity of 14.92%. The company’s revenue for the quarter was down 7.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.60 earnings per share. As a group, equities analysts expect that Textron Inc. will post 6.12 EPS for the current year.

Textron Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.11%. The ex-dividend date of this dividend is Friday, March 14th. Textron’s payout ratio is currently 1.86%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. TD Cowen raised shares of Textron to a “hold” rating in a report on Monday, February 24th. Susquehanna cut their price target on shares of Textron from $100.00 to $90.00 and set a “positive” rating for the company in a report on Wednesday, January 8th. JPMorgan Chase & Co. dropped their price objective on shares of Textron from $90.00 to $88.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Citigroup dropped their price objective on shares of Textron from $118.00 to $111.00 and set a “buy” rating for the company in a research note on Tuesday, January 21st. Finally, Vertical Research raised shares of Textron from a “hold” rating to a “buy” rating and set a $91.00 price objective for the company in a research note on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Textron currently has an average rating of “Moderate Buy” and a consensus price target of $93.45.

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.