Janus Henderson Group PLC Sells 680,064 Shares of Textron Inc. (TXT)

Janus Henderson Group PLC trimmed its stake in Textron Inc. (NYSE:TXT) by 64.3% during the first quarter, Holdings Channel reports. The fund owned 377,668 shares of the aerospace company’s stock after selling 680,064 shares during the period. Janus Henderson Group PLC’s holdings in Textron were worth $19,133,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Victory Capital Management Inc. grew its holdings in shares of Textron by 11.9% in the 4th quarter. Victory Capital Management Inc. now owns 4,409,907 shares of the aerospace company’s stock worth $202,812,000 after acquiring an additional 470,595 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Textron by 0.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,565,875 shares of the aerospace company’s stock valued at $163,995,000 after buying an additional 30,800 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Textron by 4.4% during the fourth quarter. Geode Capital Management LLC now owns 3,144,494 shares of the aerospace company’s stock valued at $144,357,000 after buying an additional 131,360 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Textron by 29.6% during the fourth quarter. Bank of New York Mellon Corp now owns 2,701,623 shares of the aerospace company’s stock valued at $124,248,000 after buying an additional 617,437 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Textron by 3.0% during the fourth quarter. Northern Trust Corp now owns 2,631,198 shares of the aerospace company’s stock valued at $121,008,000 after buying an additional 75,714 shares in the last quarter. Institutional investors and hedge funds own 84.20% of the company’s stock.

In other Textron news, CFO Frank T. Connor sold 72,732 shares of the business’s stock in a transaction dated Monday, February 25th. The stock was sold at an average price of $55.17, for a total value of $4,012,624.44. Following the transaction, the chief financial officer now owns 186,456 shares in the company, valued at $10,286,777.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Mark S. Bamford sold 4,500 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $54.75, for a total value of $246,375.00. The disclosure for this sale can be found here. Insiders sold 458,112 shares of company stock worth $25,222,635 in the last 90 days. Corporate insiders own 1.40% of the company’s stock.



A number of brokerages have recently weighed in on TXT. Zacks Investment Research upgraded Textron from a “hold” rating to a “buy” rating and set a $60.00 price target on the stock in a report on Wednesday, February 13th. Cowen reiterated a “buy” rating and set a $62.00 price target on shares of Textron in a report on Wednesday, February 27th. TheStreet upgraded Textron from a “c+” rating to a “b” rating in a report on Thursday, January 31st. ValuEngine downgraded Textron from a “hold” rating to a “sell” rating in a report on Thursday, March 7th. Finally, Credit Suisse Group began coverage on Textron in a report on Monday, April 1st. They set a “neutral” rating and a $50.00 price target on the stock. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company. Textron presently has an average rating of “Hold” and an average price target of $64.60.

Shares of NYSE TXT opened at $50.09 on Wednesday. The company has a current ratio of 2.17, a quick ratio of 0.99 and a debt-to-equity ratio of 0.67. Textron Inc. has a one year low of $43.27 and a one year high of $72.87. The stock has a market capitalization of $11.64 billion, a price-to-earnings ratio of 15.00, a PEG ratio of 1.09 and a beta of 1.65.

Textron (NYSE:TXT) last issued its earnings results on Wednesday, April 17th. The aerospace company reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.06. Textron had a return on equity of 15.66% and a net margin of 8.79%. The firm had revenue of $31.09 million for the quarter, compared to the consensus estimate of $3.17 billion. During the same quarter in the previous year, the company posted $0.72 earnings per share. The business’s quarterly revenue was down 99.1% compared to the same quarter last year. On average, equities research analysts anticipate that Textron Inc. will post 3.7 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be paid a $0.02 dividend. The ex-dividend date is Thursday, June 13th. This represents a $0.08 dividend on an annualized basis and a yield of 0.16%. Textron’s dividend payout ratio (DPR) is currently 2.40%.

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Textron Profile

Textron Inc operates in the aircraft, defense, industrial, and finance businesses worldwide. The company's Textron Aviation segment manufactures and sells business jets, turboprop and piston engine aircraft, and military trainer and defense aircraft; and commercial parts, as well as provides maintenance, inspection, and repair services.

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Institutional Ownership by Quarter for Textron (NYSE:TXT)

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