Korea Investment CORP Decreases Stock Position in Textron Inc. (NYSE:TXT)

Korea Investment CORP trimmed its position in Textron Inc. (NYSE:TXT) by 32.7% during the 4th quarter, HoldingsChannel reports. The firm owned 131,433 shares of the aerospace company’s stock after selling 63,848 shares during the quarter. Korea Investment CORP’s holdings in Textron were worth $10,053,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. EntryPoint Capital LLC increased its stake in Textron by 157.9% in the 4th quarter. EntryPoint Capital LLC now owns 7,248 shares of the aerospace company’s stock worth $554,000 after acquiring an additional 4,438 shares during the last quarter. Mizuho Securities USA LLC grew its holdings in shares of Textron by 44.7% in the fourth quarter. Mizuho Securities USA LLC now owns 17,582 shares of the aerospace company’s stock valued at $1,345,000 after purchasing an additional 5,433 shares in the last quarter. Virtu Financial LLC increased its position in Textron by 188.3% in the fourth quarter. Virtu Financial LLC now owns 8,782 shares of the aerospace company’s stock worth $672,000 after purchasing an additional 5,736 shares during the last quarter. Quantbot Technologies LP raised its stake in Textron by 414.7% during the fourth quarter. Quantbot Technologies LP now owns 129,018 shares of the aerospace company’s stock valued at $9,869,000 after purchasing an additional 103,950 shares in the last quarter. Finally, HUB Investment Partners LLC lifted its position in Textron by 30.3% during the fourth quarter. HUB Investment Partners LLC now owns 30,026 shares of the aerospace company’s stock valued at $2,297,000 after purchasing an additional 6,990 shares during the last quarter. 86.03% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TXT has been the topic of several recent research reports. Susquehanna decreased their target price on shares of Textron from $100.00 to $90.00 and set a “positive” rating on the stock in a research report on Wednesday, January 8th. Bank of America downgraded Textron from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $110.00 to $85.00 in a research report on Friday, January 24th. Citigroup cut their target price on Textron from $118.00 to $111.00 and set a “buy” rating on the stock in a research report on Tuesday, January 21st. Morgan Stanley lowered their price target on Textron from $86.00 to $82.00 and set an “equal weight” rating for the company in a research report on Thursday, January 23rd. Finally, Vertical Research raised shares of Textron from a “hold” rating to a “buy” rating and set a $91.00 target price on the stock in a research note on Monday, January 6th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $93.45.

Textron Stock Down 1.0 %

Shares of NYSE TXT opened at $72.25 on Tuesday. The stock has a 50 day moving average price of $74.35 and a 200 day moving average price of $80.07. The firm has a market capitalization of $13.12 billion, a price-to-earnings ratio of 16.76, a PEG ratio of 1.18 and a beta of 1.27. Textron Inc. has a 52-week low of $70.14 and a 52-week high of $97.34. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.84 and a current ratio of 1.76.

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

Textron Dividend Announcement

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

Insider Activity at Textron

In related news, VP Mark S. Bamford sold 5,451 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $72.68, for a total transaction of $396,178.68. Following the sale, the vice president now owns 18,223 shares of the company’s stock, valued at $1,324,447.64. This trade represents a 23.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.70% of the stock is currently owned by corporate insiders.

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.