Textron Inc. (NYSE:TXT) VP Sells $396,178.68 in Stock

Textron Inc. (NYSE:TXT) VP Mark S. Bamford sold 5,451 shares of Textron stock in a transaction on Monday, February 24th. The stock was sold at an average price of $72.68, for a total transaction of $396,178.68. Following the completion of the transaction, the vice president now owns 18,223 shares in the company, valued at $1,324,447.64. This trade represents a 23.03 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Textron Price Performance

NYSE:TXT traded down $0.25 during mid-day trading on Wednesday, hitting $72.99. The company’s stock had a trading volume of 920,909 shares, compared to its average volume of 1,331,876. The company has a market capitalization of $13.33 billion, a price-to-earnings ratio of 16.94, a P/E/G ratio of 1.18 and a beta of 1.27. The company has a current ratio of 1.76, a quick ratio of 0.84 and a debt-to-equity ratio of 0.45. Textron Inc. has a fifty-two week low of $71.67 and a fifty-two week high of $97.33. The stock has a fifty day moving average of $75.89 and a 200-day moving average of $82.52.

Textron (NYSE:TXT) last posted its earnings results on Wednesday, January 22nd. The aerospace company reported $1.34 EPS for the quarter, topping the consensus estimate of $1.27 by $0.07. Textron had a return on equity of 14.92% and a net margin of 6.01%. The business had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.78 billion. During the same quarter last year, the company earned $1.60 EPS. Textron’s revenue was down 7.2% on a year-over-year basis. As a group, equities analysts forecast that Textron Inc. will post 6.12 EPS for the current fiscal year.

Textron Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be given a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.11%. Textron’s dividend payout ratio (DPR) is currently 1.86%.

Wall Street Analysts Forecast Growth

TXT has been the topic of several research analyst reports. Barclays lowered their price target on Textron from $104.00 to $95.00 and set an “overweight” rating on the stock in a research report on Monday, December 23rd. Robert W. Baird lowered their target price on Textron from $100.00 to $92.00 and set an “outperform” rating on the stock in a report on Thursday, January 23rd. Morgan Stanley cut their price target on Textron from $86.00 to $82.00 and set an “equal weight” rating for the company in a report on Thursday, January 23rd. Vertical Research upgraded shares of Textron from a “hold” rating to a “buy” rating and set a $91.00 price objective on the stock in a research note on Monday, January 6th. Finally, JPMorgan Chase & Co. cut their target price on shares of Textron from $90.00 to $88.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $93.45.

Hedge Funds Weigh In On Textron

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. True Wealth Design LLC acquired a new stake in shares of Textron during the third quarter worth approximately $26,000. SBI Securities Co. Ltd. bought a new stake in Textron during the 4th quarter worth approximately $31,000. Capital Performance Advisors LLP acquired a new stake in Textron during the 3rd quarter valued at $42,000. Truvestments Capital LLC bought a new position in Textron in the 3rd quarter valued at $43,000. Finally, Eastern Bank acquired a new position in Textron in the fourth quarter worth $42,000. 86.03% of the stock is currently owned by institutional investors and hedge funds.

Textron Company 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.