Atria Investments Inc cut its position in shares of Textron Inc. (NYSE:TXT – Free Report) by 43.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,988 shares of the aerospace company’s stock after selling 5,294 shares during the quarter. Atria Investments Inc’s holdings in Textron were worth $535,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Charles Schwab Investment Management Inc. grew its holdings in Textron by 0.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,678,854 shares of the aerospace company’s stock valued at $128,416,000 after purchasing an additional 7,610 shares during the period. Bank of New York Mellon Corp grew its holdings in Textron by 7.9% in the fourth quarter. Bank of New York Mellon Corp now owns 1,428,377 shares of the aerospace company’s stock valued at $109,257,000 after purchasing an additional 104,982 shares during the period. Robeco Institutional Asset Management B.V. grew its holdings in Textron by 3.3% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 511,770 shares of the aerospace company’s stock valued at $39,145,000 after purchasing an additional 16,359 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its holdings in Textron by 0.9% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 475,420 shares of the aerospace company’s stock valued at $36,365,000 after purchasing an additional 4,381 shares during the period. Finally, Todd Asset Management LLC grew its holdings in Textron by 1.8% in the fourth quarter. Todd Asset Management LLC now owns 470,292 shares of the aerospace company’s stock valued at $35,973,000 after purchasing an additional 8,198 shares during the period. 86.03% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TXT has been the subject of a number of recent analyst reports. Susquehanna lowered their target price on shares of Textron from $100.00 to $90.00 and set a “positive” rating for the company in a report on Wednesday, January 8th. Vertical Research upgraded shares of 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. TD Cowen upgraded shares of Textron to a “hold” rating in a research note on Monday, February 24th. Barclays decreased 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. Finally, Robert W. Baird decreased 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. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Textron presently has an average rating of “Moderate Buy” and an average price target of $93.45.

Get Our Latest Stock Report on TXT

Insiders Place Their Bets

In other Textron news, VP Mark S. Bamford sold 5,451 shares of the 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 of the company’s stock, valued at approximately $1,324,447.64. This 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 at the SEC website. 1.70% of the stock is owned by corporate insiders.

Textron Trading Up 1.9 %

NYSE TXT opened at $73.38 on Friday. The stock has a market cap of $13.33 billion, a P/E ratio of 17.02, a PEG ratio of 1.18 and a beta of 1.26. The company’s fifty day simple moving average is $75.06 and its 200-day simple moving average is $81.22. The company has a current ratio of 1.76, a quick ratio of 0.84 and a debt-to-equity ratio of 0.45. Textron Inc. has a 52 week low of $70.14 and a 52 week high of $97.34.

Textron (NYSE:TXT – Get Free Report) last posted its quarterly earnings results 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 firm 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%. The firm’s quarterly revenue was down 7.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.60 earnings per share. Equities research analysts predict that Textron Inc. will post 6.12 EPS for the current fiscal year.

Textron Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a dividend of $0.02 per share. The ex-dividend date 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 (DPR) is 1.86%.

About Textron

(Free Report)

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.

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