EP Wealth Advisors LLC Lowers Position in Textron Inc. (NYSE:TXT)

EP Wealth Advisors LLC decreased its holdings in shares of Textron Inc. (NYSE:TXT) by 17.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,732 shares of the aerospace company’s stock after selling 2,966 shares during the quarter. EP Wealth Advisors LLC’s holdings in Textron were worth $1,050,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Balyasny Asset Management L.P. grew its stake in Textron by 6,785.9% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,236,441 shares of the aerospace company’s stock worth $94,575,000 after buying an additional 1,218,485 shares in the last quarter. Invesco Ltd. grew its position in Textron by 17.8% in the fourth quarter. Invesco Ltd. now owns 7,733,335 shares of the aerospace company’s stock worth $591,523,000 after acquiring an additional 1,167,105 shares in the last quarter. Raymond James Financial Inc. bought a new position in Textron in the fourth quarter valued at $41,451,000. Boston Partners raised its position in Textron by 4.7% during the fourth quarter. Boston Partners now owns 7,483,692 shares of the aerospace company’s stock valued at $572,465,000 after purchasing an additional 333,127 shares in the last quarter. Finally, Brandes Investment Partners LP lifted its stake in Textron by 19.4% during the fourth quarter. Brandes Investment Partners LP now owns 1,859,703 shares of the aerospace company’s stock worth $142,249,000 after purchasing an additional 302,712 shares during the last quarter. 86.03% of the stock is currently owned by institutional investors.

Textron Trading Up 0.2 %

NYSE:TXT opened at $72.36 on Friday. The company has a 50-day moving average price of $69.78 and a 200-day moving average price of $75.82. The stock has a market cap of $13.06 billion, a price-to-earnings ratio of 16.79, a P/E/G ratio of 1.18 and a beta of 1.20. 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 12 month low of $57.70 and a 12 month high of $94.57.

Textron (NYSE:TXT) last posted its quarterly earnings data on Thursday, April 24th. The aerospace company reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.17 by $0.11. Textron had a return on equity of 14.92% and a net margin of 6.01%. The business had revenue of $3.31 billion for the quarter, compared to analysts’ expectations of $3.26 billion. During the same period in the previous year, the firm posted $1.20 EPS. The business’s revenue was up 5.5% on a year-over-year basis. Equities analysts predict that Textron Inc. will post 6.12 EPS for the current year.

Textron Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be issued 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 of this dividend is Friday, June 13th. Textron’s dividend payout ratio (DPR) is presently 1.81%.

Insider Transactions 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 sale, 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.70% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. UBS Group increased their price objective on Textron from $62.00 to $63.00 and gave the company a “sell” rating in a research report on Monday, April 28th. TD Cowen raised shares of Textron to a “hold” rating in a research note on Monday, February 24th. Robert W. Baird lowered their price objective on shares of Textron from $100.00 to $92.00 and set an “outperform” rating for the company in a report on Thursday, January 23rd. Citigroup reduced their target price on shares of Textron from $111.00 to $107.00 and set a “buy” rating on the stock in a report on Thursday, April 10th. Finally, Morgan Stanley cut their price target 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. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $87.70.

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.