Dimensional Fund Advisors LP Has $213.88 Million Stock Position in Textron Inc. (NYSE:TXT)

Dimensional Fund Advisors LP cut its holdings in shares of Textron Inc. (NYSE:TXT) by 1.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,796,148 shares of the aerospace company’s stock after selling 52,369 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Textron were worth $213,878,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. SBI Securities Co. Ltd. purchased a new position in Textron during the fourth quarter valued at approximately $31,000. Eastern Bank purchased a new position in shares of Textron during the 4th quarter valued at $42,000. Golden State Wealth Management LLC acquired a new position in shares of Textron in the fourth quarter worth $63,000. McClarren Financial Advisors Inc. acquired a new stake in Textron during the fourth quarter valued at $68,000. Finally, Geneos Wealth Management Inc. grew its stake in Textron by 33.0% in the fourth quarter. Geneos Wealth Management Inc. now owns 964 shares of the aerospace company’s stock valued at $74,000 after purchasing an additional 239 shares in the last quarter. Hedge funds and other institutional investors own 86.03% of the company’s stock.

Textron Trading Up 1.4 %

Shares of NYSE:TXT opened at $65.51 on Wednesday. Textron Inc. has a 52-week low of $57.70 and a 52-week high of $95.86. 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 company has a market cap of $11.90 billion, a P/E ratio of 15.20, a P/E/G ratio of 1.18 and a beta of 1.06. The stock’s 50-day moving average is $70.51 and its 200-day moving average is $77.42.

Textron (NYSE:TXT) last issued its quarterly earnings results on Wednesday, January 22nd. The aerospace company reported $1.34 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 company had revenue of $3.61 billion during the quarter, compared to analyst estimates of $3.78 billion. During the same period in the previous year, the company earned $1.60 earnings per share. The company’s quarterly revenue was down 7.2% compared to the same quarter last year. Equities research analysts predict that Textron Inc. will post 6.12 earnings per share for the current year.

Textron Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were issued a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.12%. The ex-dividend date of this dividend was Friday, March 14th. Textron’s dividend payout ratio (DPR) is presently 1.86%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on TXT. Robert W. Baird cut their price target on Textron from $100.00 to $92.00 and set an “outperform” rating for the company in a research note on Thursday, January 23rd. TD Cowen upgraded shares of Textron to a “hold” rating in a research note on Monday, February 24th. Morgan Stanley decreased their target price on shares of Textron from $82.00 to $71.00 and set an “equal weight” rating for the company in a research report on Friday, April 11th. Bank of America downgraded shares of Textron from a “buy” rating to a “neutral” rating and cut their price target for the company from $110.00 to $85.00 in a report on Friday, January 24th. Finally, 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 report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $89.30.

Insiders Place Their Bets

In related news, VP Mark S. Bamford sold 5,451 shares of the 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 sale, the vice president now owns 18,223 shares in the company, valued at approximately $1,324,447.64. This trade represents a 23.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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.