Amalgamated Bank Has $4.95 Million Stake in Textron Inc. (NYSE:TXT)

Amalgamated Bank lessened its stake in shares of Textron Inc. (NYSE:TXT) by 4.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 61,529 shares of the aerospace company’s stock after selling 2,877 shares during the quarter. Amalgamated Bank’s holdings in Textron were worth $4,948,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. CVA Family Office LLC acquired a new position in shares of Textron in the fourth quarter valued at approximately $29,000. Trust Co. of Vermont acquired a new position in Textron in the 3rd quarter valued at $37,000. Provence Wealth Management Group bought a new position in Textron during the third quarter worth about $39,000. Morton Brown Family Wealth LLC bought a new stake in Textron in the 4th quarter valued at about $40,000. Finally, Quent Capital LLC boosted its holdings in Textron by 29.2% in the 4th quarter. Quent Capital LLC now owns 633 shares of the aerospace company’s stock valued at $51,000 after purchasing an additional 143 shares during the period. Institutional investors and hedge funds own 86.03% of the company’s stock.

Textron Stock Performance

Shares of TXT stock opened at $87.51 on Wednesday. The firm has a market capitalization of $16.69 billion, a price-to-earnings ratio of 18.70, a PEG ratio of 1.35 and a beta of 1.32. The company has a current ratio of 1.81, a quick ratio of 0.84 and a debt-to-equity ratio of 0.46. The business’s 50-day moving average price is $92.09 and its 200-day moving average price is $84.30. 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 earnings per share 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 the consensus estimate of $3.29 billion. Textron had a return on equity of 16.30% and a net margin of 6.75%. The company’s revenue was up 3.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.05 earnings per share. Equities research analysts forecast that Textron Inc. will post 6.27 EPS for the current year.

Textron Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be given a dividend of $0.02 per share. The ex-dividend date is Friday, June 14th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.09%. Textron’s dividend payout ratio (DPR) is 1.71%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Bank of America upgraded shares of Textron from a “neutral” rating to a “buy” rating and lifted their price target for the company from $85.00 to $105.00 in a research report on Friday, March 8th. The Goldman Sachs Group boosted their price target on Textron from $103.00 to $120.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. UBS Group boosted 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. StockNews.com downgraded Textron from a “strong-buy” rating to a “buy” rating in a report on Friday, April 26th. Finally, Susquehanna reduced their price objective on Textron from $110.00 to $105.00 and set a “positive” rating on the stock in a research note on Friday, April 26th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $95.63.

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.