OMERS ADMINISTRATION Corp Lowers Position in Textron Inc. (NYSE:TXT)

OMERS ADMINISTRATION Corp cut its holdings in shares of Textron Inc. (NYSE:TXT) by 25.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 21,629 shares of the aerospace company’s stock after selling 7,361 shares during the quarter. OMERS ADMINISTRATION Corp’s holdings in Textron were worth $1,654,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Wellington Management Group LLP grew its holdings in shares of Textron by 50.2% during the 4th quarter. Wellington Management Group LLP now owns 603,171 shares of the aerospace company’s stock worth $46,137,000 after purchasing an additional 201,696 shares during the period. Merit Financial Group LLC boosted its holdings in Textron by 5.9% during the 4th quarter. Merit Financial Group LLC now owns 4,784 shares of the aerospace company’s stock valued at $366,000 after acquiring an additional 265 shares during the period. Empowered Funds LLC boosted its holdings in Textron by 28.6% during the 4th quarter. Empowered Funds LLC now owns 20,132 shares of the aerospace company’s stock valued at $1,540,000 after acquiring an additional 4,480 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Textron by 44.6% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,390 shares of the aerospace company’s stock valued at $1,343,000 after acquiring an additional 5,367 shares during the period. Finally, Todd Asset Management LLC boosted its holdings in Textron by 1.8% during the 4th quarter. Todd Asset Management LLC now owns 470,292 shares of the aerospace company’s stock valued at $35,973,000 after acquiring an additional 8,198 shares during the period. 86.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Citigroup lowered their target price on Textron from $111.00 to $107.00 and set a “buy” rating for the company in a report on Thursday, April 10th. JPMorgan Chase & Co. lowered their target price on Textron from $90.00 to $88.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Morgan Stanley lowered their target price on Textron from $82.00 to $71.00 and set an “equal weight” rating for the company in a report on Friday, April 11th. UBS Group raised their target price on Textron from $62.00 to $63.00 and gave the company a “sell” rating in a report on Monday, April 28th. Finally, Robert W. Baird lowered their target price on Textron from $100.00 to $92.00 and set an “outperform” rating for the company in a report on Thursday, January 23rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $87.70.

Insider Buying and Selling

In related news, VP Mark S. Bamford sold 5,451 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $72.68, for a total transaction of $396,178.68. Following the completion of the sale, the vice president now owns 18,223 shares in the company, valued at $1,324,447.64. The trade was a 23.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.70% of the stock is owned by company insiders.

Textron Price Performance

TXT stock opened at $75.93 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.76 and a quick ratio of 0.84. The firm has a market capitalization of $13.71 billion, a P/E ratio of 17.62, a P/E/G ratio of 1.18 and a beta of 1.20. The business’s 50-day moving average is $69.93 and its two-hundred day moving average is $75.69. Textron Inc. has a 1 year low of $57.70 and a 1 year high of $94.57.

Textron (NYSE:TXT) last posted its quarterly earnings results on Thursday, April 24th. The aerospace company reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.17 by $0.11. The company had revenue of $3.31 billion for the quarter, compared to analyst estimates of $3.26 billion. Textron had a return on equity of 14.92% and a net margin of 6.01%. Textron’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter last year, the company earned $1.20 EPS. Analysts anticipate that Textron Inc. will post 6.12 earnings per share for the current fiscal year.

Textron Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be given a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.11%. The ex-dividend date of this dividend is Friday, June 13th. Textron’s dividend payout ratio (DPR) is presently 1.81%.

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.