Cambridge Investment Research Advisors Inc. lowered its stake in Textron Inc. (NYSE:TXT – Get Rating) by 12.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,097 shares of the aerospace company’s stock after selling 2,385 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Textron were worth $1,210,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. James Investment Research Inc. acquired a new position in shares of Textron in the fourth quarter valued at approximately $30,000. Lazard Asset Management LLC purchased a new stake in shares of Textron in the first quarter valued at approximately $40,000. CENTRAL TRUST Co raised its position in Textron by 100.0% in the third quarter. CENTRAL TRUST Co now owns 600 shares of the aerospace company’s stock worth $35,000 after acquiring an additional 300 shares in the last quarter. Point72 Hong Kong Ltd purchased a new position in Textron in the third quarter worth $46,000. Finally, Hollencrest Capital Management purchased a new position in Textron in the fourth quarter worth $71,000. Institutional investors and hedge funds own 84.69% of the company’s stock.
Insider Activity at Textron
In related news, CEO Scott C. Donnelly sold 222,319 shares of the stock in a transaction on Tuesday, February 21st. The stock was sold at an average price of $73.35, for a total transaction of $16,307,098.65. Following the sale, the chief executive officer now owns 683,136 shares of the company’s stock, valued at $50,108,025.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CFO Frank T. Connor sold 63,361 shares of the stock in a transaction 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 transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Scott C. Donnelly sold 222,319 shares of the stock in a transaction on Tuesday, February 21st. The shares were sold at an average price of $73.35, for a total value of $16,307,098.65. Following the sale, the chief executive officer now directly owns 683,136 shares in the company, valued at approximately $50,108,025.60. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.
Analyst Ratings Changes
Textron Stock Up 1.4 %
Textron stock opened at $65.28 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.99 and a current ratio of 1.90. The firm has a market capitalization of $13.17 billion, a price-to-earnings ratio of 16.12, a price-to-earnings-growth ratio of 1.13 and a beta of 1.48. Textron Inc. has a fifty-two week low of $57.11 and a fifty-two week high of $76.11. The stock’s fifty day moving average is $67.36 and its two-hundred day moving average is $69.98.
Textron (NYSE:TXT – Get Rating) last posted its earnings results on Thursday, April 27th. The aerospace company reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.10. The company had revenue of $3.02 billion for the quarter, compared to analyst estimates of $3.11 billion. Textron had a return on equity of 12.82% and a net margin of 6.66%. Textron’s revenue was up .8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.88 earnings per share. Analysts predict that Textron Inc. will post 5.1 EPS for the current fiscal year.
Textron Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Saturday, July 1st. Investors of record on Friday, June 9th will be paid a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.12%. The ex-dividend date is Thursday, June 8th. Textron’s payout ratio is currently 1.98%.
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 Textron eAviation.
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