Sigma Planning Corp Cuts Stake in Textron Inc. (NYSE:TXT)

Sigma Planning Corp cut its holdings in shares of Textron Inc. (NYSE:TXT) by 60.0% during the 4th quarter, HoldingsChannel reports. The fund owned 2,633 shares of the aerospace company’s stock after selling 3,945 shares during the quarter. Sigma Planning Corp’s holdings in Textron were worth $212,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Metis Global Partners LLC lifted its stake in Textron by 12.8% in the third quarter. Metis Global Partners LLC now owns 10,189 shares of the aerospace company’s stock worth $796,000 after purchasing an additional 1,158 shares during the last quarter. LSV Asset Management lifted its position in Textron by 7.6% in the third quarter. LSV Asset Management now owns 3,271,771 shares of the aerospace company’s stock valued at $255,656,000 after purchasing an additional 230,560 shares during the last quarter. Deutsche Bank AG boosted its stake in shares of Textron by 36.9% during the third quarter. Deutsche Bank AG now owns 542,193 shares of the aerospace company’s stock valued at $42,367,000 after purchasing an additional 146,055 shares during the period. AustralianSuper Pty Ltd grew its holdings in shares of Textron by 13.2% in the fourth quarter. AustralianSuper Pty Ltd now owns 98,773 shares of the aerospace company’s stock worth $7,943,000 after purchasing an additional 11,510 shares during the last quarter. Finally, SG Americas Securities LLC increased its stake in shares of Textron by 269.1% in the fourth quarter. SG Americas Securities LLC now owns 20,896 shares of the aerospace company’s stock worth $1,680,000 after buying an additional 15,235 shares during the period. 86.03% of the stock is currently owned by institutional investors.

Textron Stock Performance

Shares of Textron stock opened at $86.40 on Tuesday. The business has a fifty day simple moving average of $92.12 and a two-hundred day simple moving average of $83.98. The firm has a market capitalization of $16.48 billion, a P/E ratio of 18.46, a P/E/G ratio of 1.36 and a beta of 1.30. The company has a current ratio of 1.81, a quick ratio of 0.84 and a debt-to-equity ratio of 0.46. Textron Inc. has a 12 month low of $61.27 and a 12 month high of $97.33.

Textron (NYSE:TXT) last posted its quarterly earnings data on Thursday, April 25th. The aerospace company reported $1.20 EPS for the quarter, missing the consensus estimate of $1.28 by ($0.08). Textron had a return on equity of 16.30% and a net margin of 6.75%. The business had revenue of $3.14 billion for the quarter, compared to the consensus estimate of $3.29 billion. During the same period in the previous year, the firm earned $1.05 EPS. The company’s revenue was up 3.7% on a year-over-year basis. On average, equities analysts forecast that Textron Inc. will post 6.29 earnings per share for the current fiscal year.

Textron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 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 0.09%. The ex-dividend date of this dividend is Friday, June 14th. Textron’s dividend payout ratio (DPR) is presently 1.71%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Citigroup boosted their price objective on shares of Textron from $104.00 to $111.00 and gave the company a “buy” rating in a research report on Thursday, April 4th. Susquehanna dropped their price objective on Textron from $110.00 to $105.00 and set a “positive” rating for the company in a report on Friday. StockNews.com cut Textron from a “strong-buy” rating to a “buy” rating in a research note on Friday. Bank of America raised Textron from a “neutral” rating to a “buy” rating and raised their price target for the stock from $85.00 to $105.00 in a research note on Friday, March 8th. Finally, UBS Group upped their price objective on shares of Textron from $77.00 to $81.00 and gave the stock a “sell” rating in a report on Friday, January 26th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $95.63.

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.