Textron Inc. (NYSE:TXT) Shares Sold by Boothbay Fund Management LLC

Posted by Defense World Staff on Mar 6th, 2023

Boothbay Fund Management LLC trimmed its holdings in shares of Textron Inc. (NYSE:TXT – Get Rating) by 52.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,554 shares of the aerospace company’s stock after selling 3,882 shares during the period. Boothbay Fund Management LLC’s holdings in Textron were worth $207,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Coston McIsaac & Partners acquired a new stake in Textron during the second quarter worth about $26,000. Lazard Asset Management LLC acquired a new stake in shares of Textron during the 1st quarter worth approximately $40,000. McClarren Financial Advisors Inc. bought a new stake in shares of Textron in the 3rd quarter worth approximately $52,000. Ronald Blue Trust Inc. acquired a new position in Textron during the 2nd quarter valued at approximately $69,000. Finally, Ameliora Wealth Management Ltd. bought a new position in Textron during the 3rd quarter worth $77,000. 84.69% of the stock is currently owned by institutional investors.

Textron Stock Performance

Shares of TXT stock opened at $74.60 on Monday. Textron Inc. has a 12-month low of $57.11 and a 12-month high of $76.11. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.19 and a quick ratio of 1.22. The firm has a market capitalization of $15.31 billion, a price-to-earnings ratio of 18.60, a price-to-earnings-growth ratio of 1.34 and a beta of 1.49. The business has a 50 day simple moving average of $72.12 and a 200 day simple moving average of $68.23.

Textron (NYSE:TXT – Get Rating) last released its quarterly earnings results on Wednesday, January 25th. The aerospace company reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.06. Textron had a return on equity of 12.50% and a net margin of 6.69%. The company had revenue of $3.64 billion during the quarter, compared to analysts’ expectations of $3.60 billion. During the same quarter in the prior year, the business posted $0.94 earnings per share. The company’s revenue for the quarter was up 9.5% compared to the same quarter last year. On average, equities research analysts anticipate that Textron Inc. will post 4.98 EPS for the current year.

Textron Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, April 1st. Shareholders of record on Friday, March 10th will be given a dividend of $0.02 per share. The ex-dividend date is Thursday, March 9th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.11%. Textron’s dividend payout ratio (DPR) is 2.00%.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group raised their target price on Textron from $84.00 to $93.00 and gave the company a “buy” rating in a research note on Thursday, December 15th. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $81.67.

Insider Transactions at Textron

In related news, CFO Frank T. Connor sold 63,361 shares of the business’s stock in a transaction that occurred on Tuesday, February 21st. The stock was sold at an average price of $73.35, for a total transaction of $4,647,529.35. Following the sale, the chief financial officer now owns 151,455 shares of the company’s stock, valued at $11,109,224.25. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CEO Scott C. Donnelly sold 222,319 shares of the firm’s stock in a transaction dated Tuesday, February 21st. The shares were sold at an average price of $73.35, for a total transaction of $16,307,098.65. Following the completion of the transaction, the chief executive officer now owns 683,136 shares in the company, valued at approximately $50,108,025.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Frank T. Connor sold 63,361 shares of Textron stock in a transaction that occurred on Tuesday, February 21st. The stock was sold at an average price of $73.35, for a total transaction of $4,647,529.35. Following the completion of the transaction, the chief financial officer now directly owns 151,455 shares in the company, valued at approximately $11,109,224.25. The disclosure for this sale can be found here. Company insiders own 1.50% of the company’s stock.

Textron Company Profile

(Get Rating)

Textron, Inc is a multi-industry company, which leverages a global network of aircraft, defense, industrial, and finance businesses to provide customers innovative solutions and services. The company operates its business through the following segments: Textron Aviation, Bell, Textron Systems, Industrial, and Finance.