Goldman Sachs Group Inc. Sells 8,400 Shares of Textron Inc. (NYSE:TXT)

Goldman Sachs Group Inc. lessened its stake in Textron Inc. (NYSE:TXTFree Report) by 0.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,067,757 shares of the aerospace company’s stock after selling 8,400 shares during the period. Goldman Sachs Group Inc. owned about 0.54% of Textron worth $85,869,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. SageView Advisory Group LLC acquired a new stake in Textron during the 4th quarter valued at approximately $922,000. Charles Schwab Investment Management Inc. raised its stake in Textron by 1.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,692,173 shares of the aerospace company’s stock worth $136,085,000 after buying an additional 19,769 shares during the last quarter. Deutsche Bank AG lifted its holdings in Textron by 36.9% in the third quarter. Deutsche Bank AG now owns 542,193 shares of the aerospace company’s stock valued at $42,367,000 after buying an additional 146,055 shares during the period. AustralianSuper Pty Ltd boosted its position in Textron by 13.2% during the fourth quarter. AustralianSuper Pty Ltd now owns 98,773 shares of the aerospace company’s stock valued at $7,943,000 after acquiring an additional 11,510 shares during the last quarter. Finally, SG Americas Securities LLC grew its holdings in Textron by 269.1% during the 4th quarter. SG Americas Securities LLC now owns 20,896 shares of the aerospace company’s stock worth $1,680,000 after acquiring an additional 15,235 shares during the period. 86.03% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Textron

In other news, Director Kathleen M. Bader sold 11,870 shares of the company’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $87.91, for a total value of $1,043,491.70. Following the completion of the sale, the director now owns 3,756 shares in the company, valued at approximately $330,189.96. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.70% of the company’s stock.

Textron Stock Performance

TXT opened at $86.34 on Tuesday. The company has a market cap of $16.46 billion, a price-to-earnings ratio of 18.45, a PEG ratio of 1.36 and a beta of 1.28. The company’s fifty day moving average price is $89.79 and its two-hundred day moving average price is $86.12. Textron Inc. has a 1-year low of $64.42 and a 1-year high of $97.33. 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 (NYSE:TXTGet Free Report) last announced its quarterly earnings results on Thursday, April 25th. The aerospace company reported $1.20 earnings per share for the quarter, missing the consensus estimate of $1.28 by ($0.08). The business had revenue of $3.14 billion during the quarter, compared to the consensus estimate of $3.29 billion. Textron had a net margin of 6.75% and a return on equity of 16.30%. Textron’s revenue was up 3.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.05 EPS. On average, analysts expect that Textron Inc. will post 6.27 EPS for the current fiscal year.

Textron Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be given a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.09%. The ex-dividend date is Friday, June 14th. Textron’s payout ratio is currently 1.71%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on TXT. Bank of America upgraded Textron from a “neutral” rating to a “buy” rating and upped their target price for the company from $85.00 to $105.00 in a research report on Friday, March 8th. Citigroup lifted their price objective on shares of Textron from $104.00 to $111.00 and gave the company a “buy” rating in a research note on Thursday, April 4th. StockNews.com lowered shares of Textron from a “strong-buy” rating to a “buy” rating in a research note on Friday, April 26th. The Goldman Sachs Group lifted their price target on shares of Textron from $103.00 to $120.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Finally, Susquehanna cut their price objective on shares of Textron from $110.00 to $105.00 and set a “positive” rating on the stock in a research report on Friday, April 26th. One research analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $99.29.

Get Our Latest Stock Report on Textron

Textron Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Textron (NYSE:TXT)

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