Sequoia Financial Advisors LLC trimmed its stake in Textron Inc. (NYSE:TXT – Free Report) by 15.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,764 shares of the aerospace company’s stock after selling 10,951 shares during the period. Sequoia Financial Advisors LLC’s holdings in Textron were worth $5,233,000 at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of the stock. Wilkerson Advisory Group LLC bought a new stake in Textron during the fourth quarter valued at about $26,000. Activest Wealth Management increased its position in Textron by 3,255.6% in the fourth quarter. Activest Wealth Management now owns 302 shares of the aerospace company’s stock worth $26,000 after buying an additional 293 shares in the last quarter. Cedar Mountain Advisors LLC bought a new position in shares of Textron in the first quarter worth about $29,000. Elyxium Wealth LLC purchased a new position in shares of Textron during the 4th quarter valued at about $30,000. Finally, Strive Financial Group LLC purchased a new position in shares of Textron during the 4th quarter valued at about $31,000. 86.03% of the stock is owned by institutional investors.
Textron Trading Up 0.0%
Shares of TXT stock opened at $90.93 on Monday. The company has a current ratio of 1.84, a quick ratio of 0.87 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $15.81 billion, a price-to-earnings ratio of 17.39, a price-to-earnings-growth ratio of 1.36 and a beta of 0.90. Textron Inc. has a 12-month low of $75.80 and a 12-month high of $101.57. The stock’s 50-day moving average price is $91.21 and its 200-day moving average price is $91.90.
Textron Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Friday, June 12th were issued a $0.02 dividend. The ex-dividend date of this dividend was Friday, June 12th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.1%. Textron’s dividend payout ratio (DPR) is 1.53%.
Insiders Place Their Bets
In other Textron news, Director Thomas A. Kennedy purchased 10,300 shares of Textron stock in a transaction that occurred on Friday, May 1st. The shares were bought at an average price of $95.98 per share, for a total transaction of $988,594.00. Following the completion of the transaction, the director owned 20,162 shares of the company’s stock, valued at approximately $1,935,148.76. This trade represents a 104.44% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director R Kerry Clark sold 2,517 shares of the company’s stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $93.09, for a total transaction of $234,307.53. Following the sale, the director directly owned 8,611 shares in the company, valued at approximately $801,597.99. The trade was a 22.62% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 1.90% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities analysts have weighed in on the stock. Wells Fargo & Company began coverage on shares of Textron in a research report on Wednesday, April 1st. They issued an “equal weight” rating and a $92.00 price target for the company. Jefferies Financial Group restated a “buy” rating on shares of Textron in a research report on Sunday, May 3rd. UBS Group upped their target price on shares of Textron from $99.00 to $100.00 and gave the stock a “buy” rating in a report on Monday, May 4th. Citigroup increased their price target on Textron from $97.00 to $99.00 and gave the stock a “neutral” rating in a research note on Thursday, April 2nd. Finally, Weiss Ratings downgraded Textron from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, June 26th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $102.80.
View Our Latest Analysis on TXT
Textron Company Profile
Textron Inc is a global, multi-industry manufacturing company headquartered in Providence, Rhode Island. The company designs, manufactures and services a diverse range of products for the aerospace, defense and industrial markets. Textron operates through four primary business segments—Textron Aviation, Bell, Textron Systems and Industrial—each of which serves customers around the world.
Textron Aviation is known for its Cessna and Beechcraft branded business jets and turboprop aircraft, offering models that range from light jets and turboprops to larger cabin aircraft designed for corporate and charter use.
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