Textron Inc. (NYSE:TXT) Shares Sold by Salem Investment Counselors Inc.

Salem Investment Counselors Inc. decreased its stake in Textron Inc. (NYSE:TXT) by 13.6% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 60,299 shares of the aerospace company’s stock after selling 9,510 shares during the period. Salem Investment Counselors Inc.’s holdings in Textron were worth $4,612,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Dimensional Fund Advisors LP boosted its holdings in shares of Textron by 6.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,808,600 shares of the aerospace company’s stock valued at $241,152,000 after buying an additional 160,923 shares in the last quarter. Brandes Investment Partners LP raised its position in Textron by 20.0% in the 2nd quarter. Brandes Investment Partners LP now owns 1,549,551 shares of the aerospace company’s stock valued at $133,096,000 after purchasing an additional 258,778 shares during the last quarter. AQR Capital Management LLC raised its position in Textron by 18.9% in the 2nd quarter. AQR Capital Management LLC now owns 1,451,293 shares of the aerospace company’s stock valued at $124,608,000 after purchasing an additional 231,173 shares during the last quarter. Hsbc Holdings PLC raised its position in Textron by 3.9% in the 2nd quarter. Hsbc Holdings PLC now owns 626,323 shares of the aerospace company’s stock valued at $53,830,000 after purchasing an additional 23,404 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its position in Textron by 13.3% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 495,411 shares of the aerospace company’s stock valued at $43,884,000 after purchasing an additional 57,967 shares during the last quarter. Institutional investors and hedge funds own 86.03% of the company’s stock.

Analyst Upgrades and Downgrades

TXT has been the subject of a number of analyst reports. Susquehanna cut their price objective on shares of Textron from $100.00 to $90.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. TD Cowen upgraded shares of Textron to a “hold” rating in a research report on Thursday, December 19th. UBS Group lowered their price target on shares of Textron from $87.00 to $79.00 and set a “sell” rating on the stock in a research note on Friday, October 25th. Robert W. Baird lowered their price target on shares of Textron from $109.00 to $100.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Finally, Barclays lowered their price target on shares of Textron from $104.00 to $95.00 and set an “overweight” rating on the stock in a research note on Monday, December 23rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Textron currently has a consensus rating of “Moderate Buy” and an average price target of $98.64.

Textron Trading Up 1.0 %

Shares of Textron stock traded up $0.79 during mid-day trading on Monday, hitting $76.44. 456,203 shares of the stock were exchanged, compared to its average volume of 1,175,854. Textron Inc. has a twelve month low of $74.89 and a twelve month high of $97.33. The stock has a market capitalization of $14.18 billion, a price-to-earnings ratio of 16.80, a price-to-earnings-growth ratio of 1.46 and a beta of 1.27. The company has a 50-day simple moving average of $81.41 and a 200 day simple moving average of $85.40. The company has a current ratio of 1.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.46.

Textron (NYSE:TXT) last released its quarterly earnings results on Thursday, October 24th. The aerospace company reported $1.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.49 by ($0.09). Textron had a return on equity of 16.02% and a net margin of 6.30%. The firm had revenue of $3.43 billion for the quarter, compared to analyst estimates of $3.50 billion. During the same period in the prior year, the business earned $1.49 earnings per share. Textron’s revenue for the quarter was up 2.5% on a year-over-year basis. Research analysts forecast that Textron Inc. will post 5.52 EPS for the current year.

Textron Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 1st. Stockholders of record on Friday, December 13th were issued a dividend of $0.02 per share. The ex-dividend date was Friday, December 13th. This represents a $0.08 annualized dividend and a dividend yield of 0.10%. Textron’s payout ratio is currently 1.76%.

Textron 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.