Ontario Teachers Pension Plan Board Sells 33,128 Shares of Textron Inc. (NYSE:TXT)

Ontario Teachers Pension Plan Board cut its holdings in shares of Textron Inc. (NYSE:TXT) by 48.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 35,002 shares of the aerospace company’s stock after selling 33,128 shares during the period. Ontario Teachers Pension Plan Board’s holdings in Textron were worth $2,815,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in TXT. Metis Global Partners LLC raised its position in shares of Textron by 12.8% during the 3rd quarter. Metis Global Partners LLC now owns 10,189 shares of the aerospace company’s stock valued at $796,000 after buying an additional 1,158 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Textron by 1.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,692,173 shares of the aerospace company’s stock worth $136,085,000 after buying an additional 19,769 shares in the last quarter. Deutsche Bank AG raised its holdings 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 last quarter. AustralianSuper Pty Ltd increased its holdings in Textron by 13.2% during the fourth quarter. AustralianSuper Pty Ltd now owns 98,773 shares of the aerospace company’s stock valued at $7,943,000 after buying an additional 11,510 shares during the last quarter. Finally, SG Americas Securities LLC increased its holdings in Textron by 269.1% during the fourth quarter. SG Americas Securities LLC now owns 20,896 shares of the aerospace company’s stock valued at $1,680,000 after buying an additional 15,235 shares during the last quarter. 86.03% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on TXT. UBS Group increased their price objective on shares of Textron from $77.00 to $81.00 and gave the company a “sell” rating in a research report on Friday, January 26th. Susquehanna reduced their target price on shares of Textron from $110.00 to $105.00 and set a “positive” rating on the stock in a research note on Friday, April 26th. Citigroup increased their target price on shares of Textron from $104.00 to $111.00 and gave the company a “buy” rating in a research note on Thursday, April 4th. Bank of America raised shares of Textron from a “neutral” rating to a “buy” rating and increased their target price for the company from $85.00 to $105.00 in a research note on Friday, March 8th. Finally, The Goldman Sachs Group increased their target price on shares of Textron from $103.00 to $120.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Textron presently has a consensus rating of “Moderate Buy” and an average price target of $95.63.

Textron Stock Down 1.2 %

NYSE TXT traded down $1.03 during trading on Thursday, reaching $88.05. 243,661 shares of the company’s stock traded hands, compared to its average volume of 1,176,989. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.81 and a quick ratio of 0.84. The firm has a market cap of $16.79 billion, a price-to-earnings ratio of 19.03, a price-to-earnings-growth ratio of 1.41 and a beta of 1.32. The company’s 50 day simple moving average is $91.67 and its two-hundred day simple moving average is $85.21. Textron Inc. has a 12-month low of $61.27 and a 12-month high of $97.33.

Textron (NYSE:TXT) last posted its earnings results on Thursday, April 25th. The aerospace company reported $1.20 EPS for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.08). The business had revenue of $3.14 billion for the quarter, compared to analysts’ expectations of $3.29 billion. Textron had a net margin of 6.75% and a return on equity of 16.30%. 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, sell-side analysts forecast that Textron Inc. will post 6.27 EPS for the current fiscal year.

Textron Announces Dividend

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

Insider Activity

In other news, Director Kathleen M. Bader sold 11,870 shares of the firm’s stock in a transaction dated 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 sale, the director now directly owns 3,756 shares in the company, valued at approximately $330,189.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.70% of the company’s stock.

About Textron

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.