Sigma Planning Corp cuts stake in Textron Inc. (NYSE:TXT)

Sigma Planning Corp has sold its stake in shares of Textron Inc. (NYSE:TXT – Free Report) fell 60.0% in the fourth quarter, HoldingsChannel reports. The fund owned 2,633 shares of the aerospace company after selling 3,945 shares during the quarter. Sigma Planning Corp’s holdings in Textron were worth $212,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Metis Global Partners LLC increased its stake in Textron by 12.8% in the third quarter. Metis Global Partners LLC now owns 10,189 shares of the aerospace company’s stock worth $796,000 after purchasing an additional 1,158 shares during the last quarter. LSV Asset Management increased its position in Textron by 7.6% in the third quarter. LSV Asset Management now owns 3,271,771 shares of the aerospace company valued at $255,656,000 after purchasing an additional 230,560 shares during the last quarter. Deutsche Bank AG increased its stake in shares of Textron by 36.9% during the third quarter. Deutsche Bank AG now owns 542,193 shares of the aerospace company’s stock valued at $42,367,000 after purchasing an additional 146,055 shares during the period. AustralianSuper Pty Ltd grew its holdings in shares of Textron by 13.2% in the fourth quarter. AustralianSuper Pty Ltd now owns 98,773 shares of the aerospace company’s stock worth $7,943,000 after purchasing an additional 11,510 shares in the last quarter. Finally, SG Americas Securities LLC increased its holdings in shares of Textron by 269.1% in the fourth quarter. SG Americas Securities LLC now owns 20,896 shares of the aerospace company’s stock worth $1,680,000 after purchasing an additional 15,235 shares during the period. 86.03% of the shares are currently held by institutional investors.

Textron Stock Performance

Textron shares opened at $86.40 on Tuesday. The company has a fifty day simple moving average of $92.12 and a two hundred day simple moving average of $83.98. The company has a market cap of $16.48 billion, a price-to-earnings ratio of 18.46, a price-to-earnings ratio of 1.36, and a beta of 1.30. The company has a current ratio of 1.81, a quick ratio of 0.84 and a debt-to-equity ratio of 0.46. Textron Inc. has a 12-month low of $61.27 and a 12-month high of $97.33.

Textron (NYSE:TXT – Get Free Report) last posted its quarterly earnings data on Thursday, April 25. The aerospace company reported $1.20 earnings per share for the quarter, missing the consensus estimate of $1.28 by ($0.08). Textron had a return on equity of 16.30% and a net margin of 6.75%. The company had revenue of $3.14 billion for the quarter, compared to the consensus estimate of $3.29 billion. During the same period last year, the company earned $1.05 in earnings per share. The company’s revenue rose 3.7% year over year. On average, stock analysts predict that Textron Inc. will post a profit per share of 6.29 for the current financial year.

Textron announces dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1. Investors of record on Friday, June 14 will receive a dividend of $0.02 per share. This represents a dividend of $0.08 annually and a yield of 0.09%. The ex-dividend date of this dividend is Friday, June 14. Textron’s dividend payout ratio (DPR) currently stands at 1.71%.

Analyst upgrades and downgrades

A number of equity analysts have published reports on the stock. Citigroup raised their price objective on shares of Textron from $104.00 to $111.00 and gave the company a “buy” rating in a research report on Thursday, April 4. Susquehanna lowered its price objective on Textron from $110.00 to $105.00 and gave a “positive” rating for the company in a report on Friday. StockNews.com downgraded Textron from a “strong buy” rating to a “buy” rating on Friday. Bank of America upgraded Textron from a “neutral” rating to a “buy” rating and raised their price target for the stock from $85.00 to $105.00 in a research note on Friday, March 8. Finally, UBS Group raised their price objective on shares of Textron from $77.00 to $81.00 and gave the stock a “sell” rating in a report on Friday, January 26th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of ‘Moderate Buy’ and a consensus target price of $95.63.

Check out our latest report on Textron

Textron profile

(Free report)

Textron Inc operates worldwide in the aerospace, defense, industrial and financial sectors. 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 selling commercial parts.

Textron Stock Performance

Textron announces dividend

Analyst upgrades and downgrades

Textron profile

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