Korea Investment CORP Sells 63,848 Shares of Textron Inc. (NYSE:TXT)

Korea Investment CORP lessened its position in Textron Inc. (NYSE:TXT) by 32.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 131,433 shares of the aerospace company’s stock after selling 63,848 shares during the period. Korea Investment CORP owned about 0.07% of Textron worth $10,053,000 as of its most recent SEC filing.

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

Textron Price Performance

NYSE TXT opened at $72.25 on Tuesday. 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 business’s fifty day moving average is $74.35 and its 200 day moving average is $80.07. The company has a market capitalization of $13.12 billion, a PE ratio of 16.76, a price-to-earnings-growth ratio of 1.18 and a beta of 1.27. Textron Inc. has a fifty-two week low of $70.14 and a fifty-two week high of $97.34.

Textron (NYSE:TXT) last released its earnings results on Wednesday, January 22nd. The aerospace company reported $1.34 earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $3.78 billion. During the same period in the prior year, the firm posted $1.60 EPS. The firm’s quarterly revenue was down 7.2% compared to the same quarter last year. Sell-side analysts predict that Textron Inc. will post 6.12 earnings per share for the current year.

Textron Dividend Announcement

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 paid a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.11%. The ex-dividend date 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 Textron stock in a transaction that occurred on 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 approximately $1,324,447.64. This trade represents a 23.03 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.70% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on TXT. 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 report on Thursday, January 23rd. TD Cowen upgraded shares of Textron to a “hold” rating in a report on Monday, February 24th. Bank of America downgraded shares of Textron from a “buy” rating to a “neutral” rating and cut their target price for the stock from $110.00 to $85.00 in a research report on Friday, January 24th. Vertical Research raised 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. Finally, Citigroup cut their price objective on Textron from $118.00 to $111.00 and set a “buy” rating for the company in a report on Tuesday, January 21st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target 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.