Textron Inc. (NYSE:TXT) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC decreased its stake in shares of Textron Inc. (NYSE:TXT) by 3.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 22,193 shares of the aerospace company’s stock after selling 848 shares during the period. Mutual of America Capital Management LLC’s holdings in Textron were worth $1,698,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Bank of New York Mellon Corp grew its stake in shares of Textron by 7.9% in the 4th quarter. Bank of New York Mellon Corp now owns 1,428,377 shares of the aerospace company’s stock worth $109,257,000 after purchasing an additional 104,982 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its stake in shares of Textron by 3.3% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 511,770 shares of the aerospace company’s stock worth $39,145,000 after purchasing an additional 16,359 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Textron by 0.9% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 475,420 shares of the aerospace company’s stock worth $36,365,000 after purchasing an additional 4,381 shares during the last quarter. Todd Asset Management LLC grew its stake in shares of Textron by 1.8% in the 4th quarter. Todd Asset Management LLC now owns 470,292 shares of the aerospace company’s stock worth $35,973,000 after purchasing an additional 8,198 shares during the last quarter. Finally, Wellington Management Group LLP grew its stake in shares of Textron by 18.0% in the 3rd quarter. Wellington Management Group LLP now owns 401,475 shares of the aerospace company’s stock worth $35,563,000 after purchasing an additional 61,248 shares during the last quarter. Institutional investors and hedge funds own 86.03% of the company’s stock.

Wall Street Analysts Forecast Growth

TXT has been the subject of several recent analyst reports. Barclays decreased their target price on shares of Textron from $104.00 to $95.00 and set an “overweight” rating for the company in a report on Monday, December 23rd. Robert W. Baird decreased their target price on shares of Textron from $100.00 to $92.00 and set an “outperform” rating for the company in a report on Thursday, January 23rd. Vertical Research upgraded shares of Textron from a “hold” rating to a “buy” rating and set a $91.00 target price for the company in a report on Monday, January 6th. Bank of America cut shares of Textron from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $110.00 to $85.00 in a report on Friday, January 24th. Finally, Citigroup reduced their target price 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. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Textron presently has an average rating of “Moderate Buy” and a consensus target price of $93.45.

Insider Buying and Selling

In other Textron news, VP Mark S. Bamford sold 5,451 shares of the business’s stock in a transaction dated Monday, February 24th. The stock was 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 of the company’s stock, valued at approximately $1,324,447.64. The trade was a 23.03 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.70% of the stock is owned by corporate insiders.

Textron Stock Up 2.9 %

TXT opened at $75.50 on Friday. Textron Inc. has a fifty-two week low of $70.14 and a fifty-two week high of $97.33. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.76 and a quick ratio of 0.84. The firm’s fifty day moving average price is $75.33 and its two-hundred day moving average price is $81.78. The company has a market capitalization of $13.71 billion, a P/E ratio of 17.52, a P/E/G ratio of 1.18 and a beta of 1.27.

Textron (NYSE:TXT) last posted its quarterly earnings results on Wednesday, January 22nd. The aerospace company reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $3.78 billion. During the same quarter in the previous year, the company earned $1.60 earnings per share. The business’s revenue was down 7.2% compared to the same quarter last year. On average, analysts anticipate that Textron Inc. will post 6.12 EPS for the current year.

Textron Announces Dividend

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

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.