Royal London Asset Management Ltd. Sells 1,032 Shares of Textron Inc. (NYSE:TXT)

Royal London Asset Management Ltd. trimmed its holdings in shares of Textron Inc. (NYSE:TXT) by 1.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 83,022 shares of the aerospace company’s stock after selling 1,032 shares during the quarter. Royal London Asset Management Ltd.’s holdings in Textron were worth $6,677,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Adage Capital Partners GP L.L.C. raised its holdings in Textron by 93.7% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,474,191 shares of the aerospace company’s stock worth $115,193,000 after purchasing an additional 713,169 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Textron by 11.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,745,108 shares of the aerospace company’s stock valued at $448,923,000 after buying an additional 596,214 shares in the last quarter. LSV Asset Management increased its holdings in Textron by 15.9% in the 4th quarter. LSV Asset Management now owns 3,793,047 shares of the aerospace company’s stock worth $305,037,000 after acquiring an additional 521,276 shares in the last quarter. International Assets Investment Management LLC bought a new stake in Textron during the 4th quarter worth approximately $394,347,000. Finally, Primecap Management Co. CA lifted its holdings in Textron by 9.7% during the third quarter. Primecap Management Co. CA now owns 5,394,200 shares of the aerospace company’s stock valued at $421,503,000 after purchasing an additional 477,720 shares in the last quarter. 86.03% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Kathleen M. Bader sold 11,870 shares of the firm’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $87.91, for a total value of $1,043,491.70. Following the completion of the sale, the director now directly owns 3,756 shares in the company, valued at $330,189.96. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 1.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on TXT shares. Citigroup raised their price objective on shares of Textron from $104.00 to $111.00 and gave the company a “buy” rating in a research report on Thursday, April 4th. The Goldman Sachs Group boosted their price objective on Textron from $103.00 to $120.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Bank of America upgraded Textron from a “neutral” rating to a “buy” rating and increased their target price for the stock from $85.00 to $105.00 in a research report on Friday, March 8th. Susquehanna lowered their price target on Textron from $110.00 to $105.00 and set a “positive” rating on the stock in a report on Friday, April 26th. Finally, StockNews.com lowered shares of Textron from a “strong-buy” rating to a “buy” rating in a report on Friday, April 26th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $99.29.

Textron Price Performance

Shares of NYSE TXT traded down $0.71 during midday trading on Friday, reaching $85.25. 1,002,987 shares of the stock traded hands, compared to its average volume of 830,622. The company’s 50 day moving average is $88.86 and its 200 day moving average is $86.28. Textron Inc. has a one year low of $64.42 and a one year high of $97.33. The stock has a market capitalization of $16.26 billion, a PE ratio of 18.22, a P/E/G ratio of 1.36 and a beta of 1.28. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.81 and a quick ratio of 0.84.

Textron (NYSE:TXT) last issued its quarterly earnings data on Thursday, April 25th. The aerospace company reported $1.20 EPS for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.08). Textron had a return on equity of 16.30% and a net margin of 6.75%. The business had revenue of $3.14 billion during the quarter, compared to analysts’ expectations of $3.29 billion. During the same period in the previous year, the business earned $1.05 earnings per share. The business’s quarterly revenue was up 3.7% on a year-over-year basis. On average, equities research analysts anticipate that Textron Inc. will post 6.27 earnings per share for the current year.

Textron Announces Dividend

The business also recently announced 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 is Friday, June 14th. Textron’s dividend payout ratio (DPR) is 1.71%.

Textron Profile

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.