Securian Asset Management Inc. Trims Holdings in Textron Inc. (NYSE:TXT)

Securian Asset Management Inc. trimmed its position in Textron Inc. (NYSE:TXT) by 4.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,887 shares of the aerospace company’s stock after selling 475 shares during the period. Securian Asset Management Inc.’s holdings in Textron were worth $756,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Empirical Finance LLC lifted its holdings in Textron by 1.7% in the 3rd quarter. Empirical Finance LLC now owns 7,047 shares of the aerospace company’s stock valued at $624,000 after purchasing an additional 115 shares in the last quarter. Apollon Wealth Management LLC lifted its holdings in Textron by 4.9% in the 3rd quarter. Apollon Wealth Management LLC now owns 2,655 shares of the aerospace company’s stock valued at $235,000 after purchasing an additional 125 shares in the last quarter. Pflug Koory LLC lifted its holdings in Textron by 0.9% in the 4th quarter. Pflug Koory LLC now owns 13,778 shares of the aerospace company’s stock valued at $1,054,000 after purchasing an additional 125 shares in the last quarter. V Square Quantitative Management LLC lifted its holdings in Textron by 5.7% in the 4th quarter. V Square Quantitative Management LLC now owns 2,611 shares of the aerospace company’s stock valued at $200,000 after purchasing an additional 141 shares in the last quarter. Finally, Patriot Financial Group Insurance Agency LLC increased its stake in shares of Textron by 5.8% during the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 2,977 shares of the aerospace company’s stock valued at $228,000 after acquiring an additional 163 shares during the last quarter. 86.03% of the stock is currently owned by hedge funds and other institutional investors.

Textron Price Performance

TXT opened at $73.38 on Friday. Textron Inc. has a twelve month low of $70.14 and a twelve month high of $97.34. The firm has a market cap of $13.33 billion, a price-to-earnings ratio of 17.02, a PEG ratio of 1.18 and a beta of 1.26. The company has a current ratio of 1.76, a quick ratio of 0.84 and a debt-to-equity ratio of 0.45. The company has a fifty day simple moving average of $75.06 and a 200 day simple moving average of $81.22.

Textron (NYSE:TXT) last announced its earnings results on Wednesday, January 22nd. The aerospace company reported $1.34 earnings per share for the quarter, beating 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 company had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.78 billion. During the same period last year, the firm earned $1.60 earnings per share. The company’s revenue was down 7.2% on a year-over-year basis. Equities research analysts expect that Textron Inc. will post 6.12 EPS 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 paid a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.11%. The ex-dividend date of this dividend is Friday, March 14th. Textron’s dividend payout ratio (DPR) is 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 dated Monday, February 24th. The stock was sold at an average price of $72.68, for a total value of $396,178.68. Following the transaction, 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.70% of the company’s stock.

Analyst Ratings Changes

TXT has been the subject of a number of research analyst reports. TD Cowen raised shares of Textron to a “hold” rating in a research note on Monday, February 24th. Robert W. Baird dropped their price objective on shares of Textron from $100.00 to $92.00 and set an “outperform” rating for the company in a research note on Thursday, January 23rd. Bank of America downgraded shares of Textron from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $110.00 to $85.00 in a research note on Friday, January 24th. Citigroup dropped their price objective on shares of Textron from $118.00 to $111.00 and set a “buy” rating for the company in a research note on Tuesday, January 21st. Finally, Barclays dropped their price objective on shares of Textron from $104.00 to $95.00 and set an “overweight” rating for the company in a research note on Monday, December 23rd. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $93.45.

About Textron

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.