Vinva Investment Management Ltd Reduces Holdings in Textron Inc. (NYSE:TXT)

Vinva Investment Management Ltd decreased its holdings in Textron Inc. (NYSE:TXT) by 93.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,689 shares of the aerospace company’s stock after selling 67,757 shares during the quarter. Vinva Investment Management Ltd’s holdings in Textron were worth $359,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Boston Partners boosted its holdings in shares of Textron by 4.7% in the fourth quarter. Boston Partners now owns 7,483,692 shares of the aerospace company’s stock worth $572,465,000 after buying an additional 333,127 shares during the last quarter. Brandes Investment Partners LP boosted its holdings in shares of Textron by 19.4% in the fourth quarter. Brandes Investment Partners LP now owns 1,859,703 shares of the aerospace company’s stock worth $142,249,000 after buying an additional 302,712 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Textron by 0.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,678,854 shares of the aerospace company’s stock worth $128,416,000 after buying an additional 7,610 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Textron by 7.9% in the fourth quarter. Bank of New York Mellon Corp now owns 1,428,377 shares of the aerospace company’s stock worth $109,257,000 after buying an additional 104,982 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of Textron in the fourth quarter worth approximately $41,451,000. Hedge funds and other institutional investors own 86.03% of the company’s stock.

Textron Trading Down 0.6 %

Textron stock opened at $73.07 on Friday. The firm’s 50 day moving average price is $74.88 and its 200-day moving average price is $80.71. Textron Inc. has a 1 year low of $70.14 and a 1 year high of $97.34. The stock has a market cap of $13.27 billion, a P/E ratio of 16.95, a PEG ratio of 1.18 and a beta of 1.27. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.76 and a quick ratio of 0.84.

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

Textron Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be given a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.11%. The ex-dividend date of this dividend is Friday, March 14th. Textron’s dividend payout ratio is presently 1.86%.

Insider Buying and Selling

In related news, VP Mark S. Bamford sold 5,451 shares of the business’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $72.68, for a total value of $396,178.68. Following the sale, the vice president now owns 18,223 shares in the company, valued at approximately $1,324,447.64. The trade was a 23.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.70% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on TXT. Vertical Research raised shares of Textron from a “hold” rating to a “buy” rating and set a $91.00 price target on the stock in a report on Monday, January 6th. Morgan Stanley lowered their price target on shares of Textron from $86.00 to $82.00 and set an “equal weight” rating on the stock in a report on Thursday, January 23rd. JPMorgan Chase & Co. lowered their price target on shares of Textron from $90.00 to $88.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. TD Cowen raised shares of Textron to a “hold” rating in a report on Monday, February 24th. Finally, Robert W. Baird lowered their price target on shares of Textron from $100.00 to $92.00 and set an “outperform” rating on the stock in a report on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $93.45.

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.