Sovereign Investment Advisors LLC Takes Position in Textron Inc. (NYSE:TXT)

Sovereign Investment Advisors LLC purchased a new stake in Textron Inc. (NYSE:TXT) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 4,925 shares of the aerospace company’s stock, valued at approximately $377,000.

Other hedge funds have also recently made changes to their positions in the company. Atria Investments Inc lifted its holdings in Textron by 2.5% during the 3rd quarter. Atria Investments Inc now owns 12,282 shares of the aerospace company’s stock worth $1,088,000 after buying an additional 299 shares in the last quarter. Venturi Wealth Management LLC grew its position in Textron by 69.5% during the 3rd quarter. Venturi Wealth Management LLC now owns 566 shares of the aerospace company’s stock worth $50,000 after purchasing an additional 232 shares during the last quarter. Apollon Wealth Management LLC grew its position in Textron by 4.9% during the 3rd quarter. Apollon Wealth Management LLC now owns 2,655 shares of the aerospace company’s stock worth $235,000 after purchasing an additional 125 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its position in Textron by 0.9% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 471,039 shares of the aerospace company’s stock worth $41,725,000 after purchasing an additional 4,327 shares during the last quarter. Finally, KBC Group NV purchased a new position in Textron during the 3rd quarter worth $1,797,000. Hedge funds and other institutional investors own 86.03% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Barclays decreased their price objective on shares of Textron from $104.00 to $95.00 and set an “overweight” rating on the stock in a report on Monday, December 23rd. Citigroup reduced their price target on shares of Textron from $118.00 to $111.00 and set a “buy” rating on the stock in a report on Tuesday, January 21st. Susquehanna reduced their price target on shares of Textron from $100.00 to $90.00 and set a “positive” rating on the stock in a report on Wednesday, January 8th. Morgan Stanley reduced their price target on shares of Textron from $86.00 to $82.00 and set an “equal weight” rating on the stock in a report on Thursday, January 23rd. Finally, Robert W. Baird reduced their price target on shares of Textron from $100.00 to $92.00 and set an “outperform” rating on the stock 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 seven have issued a buy rating to the company’s stock. According to MarketBeat, Textron has a consensus rating of “Moderate Buy” and a consensus target price of $93.45.

Insider Activity at Textron

In other Textron news, VP Mark S. Bamford sold 5,451 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $72.68, for a total transaction of $396,178.68. Following the transaction, the vice president now directly owns 18,223 shares in the company, valued at $1,324,447.64. This represents a 23.03 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 1.70% of the company’s stock.

Textron Price Performance

Textron stock opened at $73.38 on Friday. Textron Inc. has a 52-week low of $70.14 and a 52-week high of $97.34. The firm has a fifty day moving average of $75.06 and a 200-day moving average of $81.22. The firm has a market capitalization of $13.33 billion, a P/E ratio of 17.02, a PEG ratio of 1.18 and a beta of 1.26. The company has a quick ratio of 0.84, a current ratio of 1.76 and a debt-to-equity ratio of 0.45.

Textron (NYSE:TXT) last released its quarterly earnings data on Wednesday, January 22nd. The aerospace company reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.07. The company had revenue of $3.61 billion during the quarter, compared to analyst estimates of $3.78 billion. Textron had a net margin of 6.01% and a return on equity of 14.92%. The business’s quarterly revenue was down 7.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.60 earnings per share. As a group, analysts predict that Textron Inc. will post 6.12 EPS for the current year.

Textron Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be issued a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.11%. The ex-dividend date of this dividend is Friday, March 14th. Textron’s payout ratio is 1.86%.

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.