Textron Inc. (NYSE:TXT) Shares Sold by IFP Advisors Inc

IFP Advisors Inc trimmed its stake in shares of Textron Inc. (NYSE:TXT) by 44.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 339 shares of the aerospace company’s stock after selling 271 shares during the quarter. IFP Advisors Inc’s holdings in Textron were worth $26,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. True Wealth Design LLC bought a new stake in shares of Textron during the 3rd quarter worth about $26,000. Capital Performance Advisors LLP bought a new stake in shares of Textron during the 3rd quarter worth about $42,000. Truvestments Capital LLC bought a new stake in shares of Textron during the 3rd quarter worth about $43,000. Eastern Bank bought a new stake in shares of Textron during the 4th quarter worth about $42,000. Finally, Venturi Wealth Management LLC raised its position 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 buying an additional 232 shares in the last quarter. 86.03% of the stock is currently owned by institutional investors.

Insider Activity at Textron

In related news, VP Mark S. Bamford sold 5,451 shares of the business’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 transaction of $396,178.68. Following the transaction, the vice president now directly owns 18,223 shares of the company’s stock, 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 document filed with the SEC, which is accessible through the SEC website. 1.70% of the stock is currently owned by insiders.

Analyst Ratings Changes

TXT has been the topic of a number of recent analyst reports. Barclays dropped their price target 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. Bank of America downgraded shares of Textron from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $110.00 to $85.00 in a report on Friday, January 24th. Vertical Research upgraded shares of Textron from a “hold” rating to a “buy” rating and set a $91.00 target price on the stock in a report on Monday, January 6th. Citigroup dropped their target price on shares of Textron from $118.00 to $111.00 and set a “buy” rating on the stock in a report on Tuesday, January 21st. Finally, Susquehanna dropped their target price on shares of Textron from $100.00 to $90.00 and set a “positive” rating on the stock in a report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $93.45.

Textron Stock Performance

Textron stock opened at $75.50 on Friday. The firm’s 50 day simple moving average is $75.37 and its 200-day simple moving average is $81.91. The company has a market cap of $13.71 billion, a P/E ratio of 17.52, a price-to-earnings-growth ratio of 1.18 and a beta of 1.27. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.76 and a quick ratio of 0.84. Textron Inc. has a fifty-two week low of $70.14 and a fifty-two week high of $97.33.

Textron (NYSE:TXT) last released its earnings results on Wednesday, January 22nd. The aerospace company reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.07. The business had revenue of $3.61 billion for 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 firm’s quarterly revenue was down 7.2% compared to the same quarter last year. During the same period last year, the firm posted $1.60 earnings per share. As a group, equities research analysts predict that Textron Inc. will post 6.12 EPS for the current 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 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 payout ratio is presently 1.86%.

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.