Mark S. Bamford Sells 5,451 Shares of Textron Inc. (NYSE:TXT) Stock

Textron Inc. (NYSE:TXT) VP Mark S. Bamford sold 5,451 shares of the company’s stock in a transaction on Monday, February 24th. The stock was 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 of the company’s stock, valued at $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 available through this hyperlink.

Textron Stock Up 0.2 %

TXT opened at $73.19 on Friday. The firm has a 50-day simple moving average of $75.77 and a two-hundred day simple moving average of $82.39. Textron Inc. has a 52 week low of $71.67 and a 52 week high of $97.33. The company has a market capitalization of $13.36 billion, a PE ratio of 16.98, a price-to-earnings-growth ratio of 1.18 and a beta of 1.27. The company has a quick ratio of 0.84, a current ratio of 1.76 and a debt-to-equity ratio of 0.45.

Textron (NYSE:TXT) last released its quarterly earnings data on Wednesday, January 22nd. The aerospace company reported $1.34 EPS for the quarter, beating 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 business had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.78 billion. During the same quarter in the prior year, the firm earned $1.60 EPS. The business’s revenue was down 7.2% on a year-over-year basis. Analysts forecast that Textron Inc. will post 6.12 earnings per share for the current fiscal year.

Textron Dividend Announcement

The firm 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 $0.02 dividend. 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 payout ratio is 1.86%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in TXT. Private Advisor Group LLC lifted its holdings in shares of Textron by 10.2% in the 3rd quarter. Private Advisor Group LLC now owns 15,948 shares of the aerospace company’s stock valued at $1,413,000 after acquiring an additional 1,481 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Textron by 31.3% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,023 shares of the aerospace company’s stock valued at $1,055,000 after acquiring an additional 2,867 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Textron by 37.9% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 24,620 shares of the aerospace company’s stock valued at $2,181,000 after acquiring an additional 6,766 shares during the last quarter. abrdn plc lifted its holdings in shares of Textron by 2.9% in the 3rd quarter. abrdn plc now owns 73,417 shares of the aerospace company’s stock valued at $6,431,000 after acquiring an additional 2,075 shares during the last quarter. Finally, US Bancorp DE raised its position in Textron by 0.8% in the 3rd quarter. US Bancorp DE now owns 25,256 shares of the aerospace company’s stock worth $2,237,000 after purchasing an additional 192 shares during the period. Institutional investors own 86.03% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Morgan Stanley reduced their price objective on Textron from $86.00 to $82.00 and set an “equal weight” rating for the company in a research note on Thursday, January 23rd. Barclays reduced their price objective on Textron from $104.00 to $95.00 and set an “overweight” rating for the company in a research note on Monday, December 23rd. JPMorgan Chase & Co. dropped their target price on shares of Textron from $90.00 to $88.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Bank of America downgraded shares of Textron from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $110.00 to $85.00 in a report on Friday, January 24th. Finally, TD Cowen raised shares of Textron to a “hold” rating in a report on Monday. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price 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.