Textron Inc. (NYSE:TXT) Shares Sold by Securian Asset Management Inc.

Securian Asset Management Inc. decreased its position in Textron Inc. (NYSE:TXT) by 4.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,887 shares of the aerospace company’s stock after selling 475 shares during the quarter. Securian Asset Management Inc.’s holdings in Textron were worth $756,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in TXT. True Wealth Design LLC purchased a new position in Textron in the third quarter valued at approximately $26,000. SBI Securities Co. Ltd. purchased a new position in Textron in the fourth quarter valued at approximately $31,000. Eastern Bank purchased a new position in Textron in the fourth quarter valued at approximately $42,000. Truvestments Capital LLC purchased a new position in Textron in the third quarter valued at approximately $43,000. Finally, Venturi Wealth Management LLC increased its stake in Textron by 69.5% in the third quarter. Venturi Wealth Management LLC now owns 566 shares of the aerospace company’s stock valued at $50,000 after purchasing an additional 232 shares during the last quarter. Institutional investors and hedge funds own 86.03% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on TXT shares. Morgan Stanley dropped their price target on shares of Textron from $86.00 to $82.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 23rd. Barclays lowered their target price on shares of Textron from $104.00 to $95.00 and set an “overweight” rating on the stock in a research report on Monday, December 23rd. Bank of America lowered shares of Textron from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $110.00 to $85.00 in a research report on Friday, January 24th. Vertical Research upgraded shares of Textron from a “hold” rating to a “buy” rating and set a $91.00 target price on the stock in a research report on Monday, January 6th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Textron from $90.00 to $88.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $93.45.

Insiders Place Their Bets

In other Textron 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 transaction of $396,178.68. Following the sale, the vice president now directly owns 18,223 shares in the company, valued at approximately $1,324,447.64. The trade was a 23.03 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.70% of the company’s stock.

Textron Stock Performance

Shares of TXT opened at $73.38 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.84 and a current ratio of 1.76. The stock has a market capitalization of $13.33 billion, a P/E ratio of 17.02, a P/E/G ratio of 1.18 and a beta of 1.26. The company’s fifty day moving average is $75.06 and its two-hundred day moving average is $81.22. Textron Inc. has a 1 year low of $70.14 and a 1 year high of $97.34.

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

Textron Announces Dividend

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

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.