Securian Asset Management Inc. Sells 1,829 Shares of Textron Inc. (NYSE:TXT)

Securian Asset Management Inc. lowered its holdings in Textron Inc. (NYSE:TXT) by 12.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 12,384 shares of the aerospace company’s stock after selling 1,829 shares during the quarter. Securian Asset Management Inc.’s holdings in Textron were worth $996,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of TXT. Boston Partners raised its stake in Textron by 2.0% in the fourth quarter. Boston Partners now owns 7,016,363 shares of the aerospace company’s stock worth $564,235,000 after buying an additional 139,927 shares in the last quarter. Victory Capital Management Inc. lifted its stake in shares of Textron by 3.4% during the 3rd quarter. Victory Capital Management Inc. now owns 6,756,439 shares of the aerospace company’s stock worth $527,948,000 after purchasing an additional 220,891 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Textron by 11.6% during the third 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% in the third 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 during the last quarter. Finally, LSV Asset Management raised its holdings in Textron by 15.9% in the fourth quarter. LSV Asset Management now owns 3,793,047 shares of the aerospace company’s stock worth $305,037,000 after purchasing an additional 521,276 shares in the last quarter. Hedge funds and other institutional investors own 86.03% of the company’s stock.

Textron Price Performance

Shares of NYSE TXT opened at $88.83 on Wednesday. Textron Inc. has a 52 week low of $61.27 and a 52 week high of $97.33. The business’s 50 day moving average price is $91.73 and its 200 day moving average price is $85.18. The company has a quick ratio of 0.84, a current ratio of 1.81 and a debt-to-equity ratio of 0.46. The firm has a market cap of $16.94 billion, a P/E ratio of 18.98, a P/E/G ratio of 1.40 and a beta of 1.32.

Textron (NYSE:TXT) last issued its quarterly earnings data 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 analyst estimates of $3.29 billion. Textron had a net margin of 6.75% and a return on equity of 16.30%. The business’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period last year, the firm earned $1.05 EPS. On average, sell-side analysts expect that Textron Inc. will post 6.27 earnings per share for the current year.

Textron Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be paid a dividend of $0.02 per share. The ex-dividend date is Friday, June 14th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.09%. Textron’s payout ratio is 1.71%.

Wall Street Analyst Weigh In

TXT has been the topic of a number of recent analyst reports. Susquehanna lowered their price target on shares of Textron from $110.00 to $105.00 and set a “positive” rating on the stock in a report on Friday, April 26th. Bank of America raised Textron from a “neutral” rating to a “buy” rating and upped their price target for the stock from $85.00 to $105.00 in a research report on Friday, March 8th. Citigroup raised their price objective on Textron from $104.00 to $111.00 and gave the stock a “buy” rating in a research report on Thursday, April 4th. StockNews.com lowered Textron from a “strong-buy” rating to a “buy” rating in a research report on Friday, April 26th. Finally, UBS Group boosted their price target on Textron from $77.00 to $81.00 and gave the stock a “sell” rating in a research note on Friday, January 26th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy 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 $95.63.

Insider Activity

In other Textron news, Director Kathleen M. Bader sold 11,870 shares of Textron stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $87.91, for a total value of $1,043,491.70. Following the completion of the transaction, the director now owns 3,756 shares of the company’s stock, valued at $330,189.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.80% of the company’s stock.

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.