Textron Inc. (NYSE:TXT) Shares Sold by Northern Trust Corp

Northern Trust Corp cut its stake in shares of Textron Inc. (NYSE:TXTFree Report) by 0.1% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 1,755,851 shares of the aerospace company’s stock after selling 1,407 shares during the period. Northern Trust Corp owned approximately 0.90% of Textron worth $141,206,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Cibc World Markets Corp lifted its position in Textron by 44.4% during the 4th quarter. Cibc World Markets Corp now owns 46,683 shares of the aerospace company’s stock worth $3,754,000 after acquiring an additional 14,351 shares in the last quarter. Rafferty Asset Management LLC lifted its position in Textron by 11.2% during the 4th quarter. Rafferty Asset Management LLC now owns 82,980 shares of the aerospace company’s stock worth $6,673,000 after acquiring an additional 8,388 shares in the last quarter. NEOS Investment Management LLC acquired a new position in Textron during the 4th quarter worth approximately $224,000. Jones Financial Companies Lllp lifted its position in Textron by 200.0% during the 4th quarter. Jones Financial Companies Lllp now owns 507 shares of the aerospace company’s stock worth $41,000 after acquiring an additional 338 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC acquired a new position in Textron during the 4th quarter worth approximately $2,648,000. 86.03% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Kathleen M. Bader sold 11,870 shares of the company’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $87.91, for a total transaction of $1,043,491.70. Following the completion of the transaction, the director now directly owns 3,756 shares in the company, valued at approximately $330,189.96. The sale was disclosed in a document filed with the SEC, which is available through this link. 1.80% of the stock is owned by company insiders.

Analysts Set New Price Targets

TXT has been the topic of a number of recent analyst reports. Bank of America raised 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. StockNews.com lowered Textron from a “strong-buy” rating to a “buy” rating in a research report on Friday, April 26th. Susquehanna cut their target price on Textron from $110.00 to $105.00 and set a “positive” rating on the stock in a research report on Friday, April 26th. The Goldman Sachs Group upped their target price on Textron from $103.00 to $120.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Finally, Citigroup upped their target price on Textron from $104.00 to $111.00 and gave the company a “buy” rating in a research report on Thursday, April 4th. One analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $99.29.

View Our Latest Report on TXT

Textron Stock Performance

TXT stock opened at $86.34 on Tuesday. The company has a current ratio of 1.81, a quick ratio of 0.84 and a debt-to-equity ratio of 0.46. The firm has a market cap of $16.47 billion, a P/E ratio of 18.45, a P/E/G ratio of 1.36 and a beta of 1.29. Textron Inc. has a 12-month low of $64.42 and a 12-month high of $97.33. The stock’s 50 day simple moving average is $89.79 and its 200 day simple moving average is $86.12.

Textron (NYSE:TXTGet Free Report) last issued its quarterly earnings data on Thursday, April 25th. The aerospace company reported $1.20 EPS for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.08). The company had revenue of $3.14 billion for the quarter, compared to the consensus estimate of $3.29 billion. Textron had a return on equity of 16.30% and a net margin of 6.75%. Textron’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.05 earnings per share. As a group, equities research analysts predict that Textron Inc. will post 6.27 EPS for the current 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 paid a dividend of $0.02 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.08 dividend on an annualized basis and a yield of 0.09%. Textron’s payout ratio is currently 1.71%.

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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