Textron Inc. (NYSE:TXT) Shares Sold by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC trimmed its stake in Textron Inc. (NYSE:TXT) by 1.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 10,570 shares of the aerospace company’s stock after selling 182 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Textron were worth $808,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Pflug Koory LLC increased its stake in Textron by 0.9% in the 4th quarter. Pflug Koory LLC now owns 13,778 shares of the aerospace company’s stock worth $1,054,000 after purchasing an additional 125 shares in the last quarter. V Square Quantitative Management LLC increased its position in shares of Textron by 5.7% in the fourth quarter. V Square Quantitative Management LLC now owns 2,611 shares of the aerospace company’s stock worth $200,000 after acquiring an additional 141 shares in the last quarter. Patriot Financial Group Insurance Agency LLC raised its holdings in shares of Textron by 5.8% during the fourth 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 period. Foundations Investment Advisors LLC lifted its position in shares of Textron by 4.1% in the 4th quarter. Foundations Investment Advisors LLC now owns 4,272 shares of the aerospace company’s stock valued at $327,000 after acquiring an additional 169 shares in the last quarter. Finally, Uncommon Cents Investing LLC boosted its stake in Textron by 2.2% in the 4th quarter. Uncommon Cents Investing LLC now owns 7,985 shares of the aerospace company’s stock worth $611,000 after purchasing an additional 175 shares during the period. 86.03% of the stock is owned by institutional investors and hedge funds.

Textron Price Performance

Shares of NYSE:TXT opened at $73.49 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.76 and a quick ratio of 0.84. The stock has a market capitalization of $13.35 billion, a P/E ratio of 17.05, a P/E/G ratio of 1.18 and a beta of 1.27. The business has a 50-day moving average of $74.93 and a two-hundred day moving average of $80.84. Textron Inc. has a fifty-two week low of $70.14 and a fifty-two week high of $97.34.

Textron (NYSE:TXT) last announced its 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. Textron had a return on equity of 14.92% and a net margin of 6.01%. The firm had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $3.78 billion. During the same quarter in the prior year, the business earned $1.60 earnings per share. The company’s revenue was down 7.2% on a year-over-year basis. On average, equities research analysts predict 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 issued a $0.02 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.08 annualized dividend and a yield of 0.11%. Textron’s dividend payout ratio (DPR) is presently 1.86%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on TXT shares. TD Cowen upgraded Textron to a “hold” rating in a report on Monday, February 24th. Vertical Research raised Textron from a “hold” rating to a “buy” rating and set a $91.00 price objective for the company in a research note on Monday, January 6th. Morgan Stanley lowered their target price on Textron from $86.00 to $82.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 23rd. Robert W. Baird reduced their price target on shares of Textron from $100.00 to $92.00 and set an “outperform” rating for the company in a research report on Thursday, January 23rd. Finally, Citigroup lowered their price objective on shares of Textron from $118.00 to $111.00 and set a “buy” rating on the stock in a research report on Tuesday, January 21st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the stock. According to data from 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 news, VP Mark S. Bamford sold 5,451 shares of Textron 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 directly 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 document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.70% of the company’s stock.

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.