Textron Inc. (NYSE:TXT) Holdings Cut by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. lowered its position in Textron Inc. (NYSE:TXT) by 24.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,760 shares of the aerospace company’s stock after selling 893 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Textron were worth $211,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. True Wealth Design LLC acquired a new position in Textron in the third quarter worth approximately $26,000. Capital Performance Advisors LLP bought a new position in shares of Textron during the 3rd quarter valued at $42,000. Eastern Bank bought a new position in shares of Textron during the 4th quarter valued at $42,000. Truvestments Capital LLC bought a new position in shares of Textron during the 3rd quarter valued at $43,000. Finally, Venturi Wealth Management LLC raised its holdings in Textron by 69.5% in 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.

Wall Street Analyst Weigh In

TXT has been the topic of several recent analyst reports. Barclays dropped their target price on shares of Textron from $104.00 to $95.00 and set an “overweight” rating on the stock in a report on Monday, December 23rd. 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. TD Cowen upgraded shares of Textron to a “hold” rating in a research report on Monday, February 24th. Susquehanna dropped their price target on shares of Textron from $100.00 to $90.00 and set a “positive” rating for the company in a research note on Wednesday, January 8th. Finally, Bank of America downgraded shares of Textron from a “buy” rating to a “neutral” rating and lowered their target price for the company from $110.00 to $85.00 in a research note on Friday, January 24th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $93.45.

Textron Stock Performance

Shares of TXT opened at $75.50 on Friday. Textron Inc. has a 12 month low of $70.14 and a 12 month high of $97.33. The firm has a fifty day simple moving average of $75.37 and a 200 day simple moving average of $81.91. The stock has a market capitalization of $13.71 billion, a price-to-earnings ratio of 17.52, a PEG ratio of 1.18 and a beta of 1.27. The company has a current ratio of 1.76, a quick ratio of 0.84 and a debt-to-equity ratio of 0.45.

Textron (NYSE:TXT) last announced its quarterly earnings results on Wednesday, January 22nd. The aerospace company reported $1.34 EPS for the quarter, beating analysts’ consensus estimates of $1.27 by $0.07. The firm had revenue of $3.61 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter last year, the company posted $1.60 earnings per share. Research analysts forecast that Textron Inc. will post 6.12 EPS for the current fiscal year.

Textron Announces Dividend

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

Insider Buying and Selling

In other news, VP Mark S. Bamford sold 5,451 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The shares were 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 in the company, valued at approximately $1,324,447.64. This trade represents a 23.03 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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.