Bridgewater Associates LP Sells 94,544 Shares of Textron Inc. (NYSE:TXT)

Bridgewater Associates LP lessened its stake in Textron Inc. (NYSE:TXT) by 69.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,111 shares of the aerospace company’s stock after selling 94,544 shares during the period. Bridgewater Associates LP’s holdings in Textron were worth $3,221,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Wellington Management Group LLP grew its position in Textron by 50.2% in the fourth quarter. Wellington Management Group LLP now owns 603,171 shares of the aerospace company’s stock worth $46,137,000 after acquiring an additional 201,696 shares in the last quarter. Merit Financial Group LLC boosted its holdings in shares of Textron by 5.9% in the 4th quarter. Merit Financial Group LLC now owns 4,784 shares of the aerospace company’s stock worth $366,000 after purchasing an additional 265 shares in the last quarter. Empowered Funds LLC increased its position in shares of 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 purchasing an additional 4,480 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of Textron by 10.3% during the 3rd quarter. Franklin Resources Inc. now owns 164,029 shares of the aerospace company’s stock valued at $14,505,000 after buying an additional 15,294 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in Textron by 44.6% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,390 shares of the aerospace company’s stock worth $1,343,000 after buying an additional 5,367 shares during the last quarter. Institutional investors own 86.03% of the company’s stock.

Insiders Place Their Bets

In related news, VP Mark S. Bamford sold 5,451 shares of the company’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $72.68, for a total value of $396,178.68. Following the sale, the vice president now directly owns 18,223 shares of the company’s stock, valued at $1,324,447.64. This represents a 23.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.70% of the company’s stock.

Wall Street Analyst Weigh In

TXT has been the topic of several research reports. Barclays decreased their price target on shares of Textron from $104.00 to $95.00 and set an “overweight” rating on the stock in a research note on Monday, December 23rd. Robert W. Baird lowered their price target on shares of Textron from $100.00 to $92.00 and set an “outperform” rating for the company in a research note on Thursday, January 23rd. Susquehanna reduced their price objective on Textron from $100.00 to $90.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. TD Cowen raised Textron to a “hold” rating in a research note on Monday, February 24th. Finally, Vertical Research upgraded Textron from a “hold” rating to a “buy” rating and set a $91.00 price target on the stock in a research report on Monday, January 6th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $89.30.

Textron Price Performance

TXT opened at $66.00 on Friday. The stock’s 50 day moving average price is $70.98 and its 200-day moving average price is $77.93. Textron Inc. has a 52-week low of $57.70 and a 52-week high of $95.86. The stock has a market capitalization of $11.99 billion, a PE ratio of 15.31, a price-to-earnings-growth ratio of 1.18 and a beta of 1.06. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.84 and a current ratio of 1.76.

Textron (NYSE:TXT) last issued its quarterly earnings data on Wednesday, January 22nd. The aerospace company reported $1.34 EPS for the quarter, topping the consensus estimate of $1.27 by $0.07. The business 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 company’s revenue for the quarter was down 7.2% on a year-over-year basis. During the same period in the prior year, the business earned $1.60 EPS. On average, equities research analysts predict that Textron Inc. will post 6.12 EPS for the current year.

Textron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were given a dividend of $0.02 per share. The ex-dividend date was Friday, March 14th. This represents a $0.08 annualized dividend and a yield of 0.12%. Textron’s payout ratio is 1.86%.

Textron Company 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.