Commonwealth Equity Services LLC Sells 1,884 Shares of Textron Inc. (NYSE:TXT)

Commonwealth Equity Services LLC cut its stake in Textron Inc. (NYSE:TXT – Get Rating) by 5.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 32,290 shares of the aerospace company’s stock after selling 1,884 shares during the period. Commonwealth Equity Services LLC’s holdings in Textron were worth $1,881,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. AQR Capital Management LLC raised its position in Textron by 65.6% in the 2nd quarter. AQR Capital Management LLC now owns 2,310,435 shares of the aerospace company’s stock valued at $135,645,000 after buying an additional 915,068 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Textron by 36.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 3,318,093 shares of the aerospace company’s stock worth $202,636,000 after acquiring an additional 890,654 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of Textron by 12.1% in the third quarter. Victory Capital Management Inc. now owns 6,445,825 shares of the aerospace company’s stock valued at $375,534,000 after purchasing an additional 697,027 shares during the last quarter. Mariner LLC lifted its position in shares of Textron by 2,973.5% in the first quarter. Mariner LLC now owns 471,666 shares of the aerospace company’s stock worth $35,083,000 after purchasing an additional 456,320 shares in the last quarter. Finally, FMR LLC boosted its holdings in Textron by 28.5% during the second quarter. FMR LLC now owns 1,738,042 shares of the aerospace company’s stock worth $106,143,000 after purchasing an additional 385,477 shares during the last quarter. Institutional investors own 84.69% of the company’s stock.

Textron Trading Down 3.1 %

Shares of NYSE:TXT opened at $67.13 on Tuesday. The company has a 50-day simple moving average of $72.26 and a 200 day simple moving average of $68.45. The company has a market capitalization of $13.67 billion, a P/E ratio of 16.74, a price-to-earnings-growth ratio of 1.24 and a beta of 1.49. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.22 and a current ratio of 2.19. Textron Inc. has a 52-week low of $57.11 and a 52-week high of $76.11.

Textron (NYSE:TXT – Get Rating) last issued its earnings results on Wednesday, January 25th. The aerospace company reported $1.07 EPS for the quarter, topping the consensus estimate of $1.01 by $0.06. Textron had a return on equity of 12.50% and a net margin of 6.69%. The company had revenue of $3.64 billion during the quarter, compared to the consensus estimate of $3.60 billion. During the same period in the previous year, the company posted $0.94 EPS. The firm’s revenue for the quarter was up 9.5% compared to the same quarter last year. Sell-side analysts forecast that Textron Inc. will post 4.98 earnings per share for the current year.

Textron Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Saturday, April 1st. Investors of record on Friday, March 10th will be issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.12%. The ex-dividend date of this dividend is Thursday, March 9th. Textron’s payout ratio is 2.00%.

Analyst Upgrades and Downgrades

TXT has been the topic of several analyst reports. StockNews.com cut shares of Textron from a “strong-buy” rating to a “buy” rating in a research report on Monday, March 6th. The Goldman Sachs Group increased their price target on Textron from $84.00 to $93.00 and gave the company a “buy” rating in a research report on Thursday, December 15th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $81.67.

Insider Activity at Textron

In other news, CEO Scott C. Donnelly sold 222,319 shares of the business’s stock in a transaction that occurred on Tuesday, February 21st. The stock was sold at an average price of $73.35, for a total transaction of $16,307,098.65. Following the completion of the sale, the chief executive officer now owns 683,136 shares in the company, valued at $50,108,025.60. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CEO Scott C. Donnelly sold 222,319 shares of Textron stock in a transaction that occurred on Tuesday, February 21st. The stock was sold at an average price of $73.35, for a total transaction of $16,307,098.65. Following the completion of the sale, the chief executive officer now directly owns 683,136 shares of the company’s stock, valued at approximately $50,108,025.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Frank T. Connor sold 63,361 shares of the company’s stock in a transaction on Tuesday, February 21st. The shares were sold at an average price of $73.35, for a total value of $4,647,529.35. Following the completion of the transaction, the chief financial officer now directly owns 151,455 shares in the company, valued at $11,109,224.25. The disclosure for this sale can be found here. 1.70% of the stock is owned by company insiders.

About Textron

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Textron, Inc is a multi-industry company, which leverages a global network of aircraft, defense, industrial, and finance businesses to provide customers innovative solutions and services. The company operates its business through the following segments: Textron Aviation, Bell, Textron Systems, Industrial, and Finance.