Textron Inc. (NYSE:TXT) Shares Sold by Stanley Laman Group Ltd.

Stanley Laman Group Ltd. lowered its stake in Textron Inc. (NYSE:TXT) by 3.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 35,031 shares of the aerospace company’s stock after selling 1,144 shares during the quarter. Stanley Laman Group Ltd.’s holdings in Textron were worth $2,817,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the stock. Victory Capital Management Inc. grew its stake in shares of Textron by 3.4% in the third quarter. Victory Capital Management Inc. now owns 6,756,439 shares of the aerospace company’s stock valued at $527,948,000 after buying an additional 220,891 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Textron by 11.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,745,108 shares of the aerospace company’s stock valued at $448,923,000 after purchasing an additional 596,214 shares in the last quarter. Primecap Management Co. CA grew its stake in Textron by 9.7% during the 3rd quarter. Primecap Management Co. CA now owns 5,394,200 shares of the aerospace company’s stock valued at $421,503,000 after purchasing an additional 477,720 shares in the last quarter. LSV Asset Management grew its stake in Textron by 7.6% during the 3rd quarter. LSV Asset Management now owns 3,271,771 shares of the aerospace company’s stock valued at $255,656,000 after purchasing an additional 230,560 shares in the last quarter. Finally, Northern Trust Corp grew its stake in Textron by 4.0% during the 3rd quarter. Northern Trust Corp now owns 1,757,258 shares of the aerospace company’s stock valued at $137,312,000 after purchasing an additional 66,999 shares in the last quarter. Institutional investors and hedge funds own 86.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. StockNews.com upgraded Textron from a “buy” rating to a “strong-buy” rating in a research note on Thursday, January 25th. Susquehanna lowered their price objective on Textron from $110.00 to $105.00 and set a “positive” rating for the company in a research note on Friday. Bank of America upgraded Textron from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $85.00 to $105.00 in a research report on Friday, March 8th. Citigroup lifted their target price on Textron from $104.00 to $111.00 and gave the stock a “buy” rating in a research report on Thursday, April 4th. Finally, UBS Group lifted their target price on Textron from $77.00 to $81.00 and gave the stock a “sell” rating in a research report on Friday, January 26th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $95.63.

Textron Stock Performance

Shares of NYSE TXT traded up $1.61 during mid-day trading on Friday, hitting $86.51. The company had a trading volume of 2,662,684 shares, compared to its average volume of 1,221,277. The stock has a market cap of $16.64 billion, a price-to-earnings ratio of 18.93, a PEG ratio of 1.48 and a beta of 1.30. Textron Inc. has a 12 month low of $61.27 and a 12 month high of $97.33. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.92 and a quick ratio of 1.03. The firm’s 50 day simple moving average is $92.10 and its two-hundred day simple moving average is $83.86.

Textron (NYSE:TXT) last announced its quarterly earnings results on Thursday, April 25th. The aerospace company reported $1.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.28 by ($0.08). The company had revenue of $3.14 billion during the quarter, compared to the consensus estimate of $3.29 billion. Textron had a return on equity of 16.05% and a net margin of 6.73%. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same period last year, the business posted $1.05 EPS. As a group, equities research analysts forecast that Textron Inc. will post 6.27 earnings per share for the current year.

Textron Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be issued a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.09%. The ex-dividend date is Friday, June 14th. Textron’s dividend payout ratio (DPR) is 1.75%.

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.