Atria Investments Inc Reduces Position in Textron Inc. (NYSE:TXT)

Atria Investments Inc decreased its stake in Textron Inc. (NYSE:TXT) by 43.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,988 shares of the aerospace company’s stock after selling 5,294 shares during the period. Atria Investments Inc’s holdings in Textron were worth $535,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. True Wealth Design LLC purchased a new position in shares of Textron in the 3rd quarter valued at $26,000. SBI Securities Co. Ltd. purchased a new position in shares of Textron in the 4th quarter valued at $31,000. Eastern Bank purchased a new position in shares of Textron in the 4th quarter valued at $42,000. Truvestments Capital LLC purchased a new position in Textron during the 3rd quarter worth $43,000. Finally, Venturi Wealth Management LLC grew its position in 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 purchasing an additional 232 shares during the last quarter. 86.03% of the stock is owned by hedge funds and other institutional investors.

Textron Stock Up 1.9 %

Shares of NYSE TXT opened at $73.38 on Friday. 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 Inc. has a 52 week low of $70.14 and a 52 week high of $97.34. The firm has a 50-day moving average price of $75.06 and a 200 day moving average price of $81.22. The stock has a market capitalization of $13.33 billion, a price-to-earnings ratio of 17.02, a price-to-earnings-growth ratio of 1.18 and a beta of 1.26.

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

Textron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be paid a $0.02 dividend. 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 dividend payout ratio (DPR) is 1.86%.

Analyst Upgrades and Downgrades

TXT has been the topic of several research reports. Bank of America downgraded shares of Textron from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $110.00 to $85.00 in a research report on Friday, January 24th. Barclays lowered their price objective on shares of Textron from $104.00 to $95.00 and set an “overweight” rating on the stock in a research report on Monday, December 23rd. Robert W. Baird lowered 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. Morgan Stanley lowered their price objective on shares of Textron from $86.00 to $82.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 23rd. Finally, TD Cowen raised shares of Textron to a “hold” rating in a report on Monday, February 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 data from MarketBeat.com, Textron has an average rating of “Moderate Buy” and a consensus target price of $93.45.

Insider Activity at Textron

In other Textron news, VP Mark S. Bamford sold 5,451 shares of Textron stock in a transaction dated 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 transaction, the vice president now owns 18,223 shares in the company, valued at approximately $1,324,447.64. The trade was a 23.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.70% of the company’s stock.

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.