Dana Investment Advisors Inc. Cuts Stock Position in Textron Inc. (NYSE:TXT)

Dana Investment Advisors Inc. decreased its position in shares of Textron Inc. (NYSE:TXT) by 11.6% in the fourth quarter, HoldingsChannel reports. The fund owned 51,135 shares of the aerospace company’s stock after selling 6,679 shares during the quarter. Dana Investment Advisors Inc.’s holdings in Textron were worth $3,911,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. True Wealth Design LLC acquired a new position in shares of Textron during the third quarter worth $26,000. SBI Securities Co. Ltd. purchased a new position in Textron during the 4th quarter worth $31,000. Capital Performance Advisors LLP acquired a new position in Textron during the 3rd quarter valued at about $42,000. Eastern Bank purchased a new stake in Textron in the fourth quarter valued at about $42,000. Finally, Truvestments Capital LLC acquired a new stake in Textron in the third quarter worth about $43,000. 86.03% of the stock is currently owned by institutional investors and hedge funds.

Textron Stock Performance

Shares of TXT stock opened at $73.34 on Friday. Textron Inc. has a 52-week low of $70.14 and a 52-week high of $97.33. The company has a quick ratio of 0.84, a current ratio of 1.76 and a debt-to-equity ratio of 0.45. The stock has a market cap of $13.39 billion, a PE ratio of 17.02, a price-to-earnings-growth ratio of 1.18 and a beta of 1.27. The business has a 50-day simple moving average of $75.45 and a 200-day simple moving average of $81.97.

Textron (NYSE:TXT) last announced its quarterly 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 analysts’ expectations of $3.78 billion. During the same period last year, the business earned $1.60 earnings per share. Textron’s quarterly revenue was down 7.2% on a year-over-year basis. On average, equities analysts expect that Textron Inc. will post 6.12 EPS for the current year.

Textron Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be issued a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.11%. The ex-dividend date of this dividend is Friday, March 14th. Textron’s dividend payout ratio (DPR) is presently 1.86%.

Insider Activity at Textron

In other Textron news, VP Mark S. Bamford sold 5,451 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $72.68, for a total value of $396,178.68. Following the completion of the transaction, the vice president now owns 18,223 shares in the company, 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 legal filing with the SEC, which is accessible through this link. 1.70% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms have recently issued reports on TXT. Barclays cut their price objective on shares of Textron from $104.00 to $95.00 and set an “overweight” rating on the stock in a report on Monday, December 23rd. Citigroup cut their price target on shares of Textron from $118.00 to $111.00 and set a “buy” rating on the stock in a research note on Tuesday, January 21st. 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 raised Textron to a “hold” rating in a research report on Monday, February 24th. Finally, Robert W. Baird lowered their price target on Textron from $100.00 to $92.00 and set an “outperform” rating for the company in a research report on Thursday, January 23rd. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Textron currently has a consensus rating of “Moderate Buy” and a consensus price target of $93.45.

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.