Amalgamated Bank Sells 1,016 Shares of Textron Inc. (TXT)

Amalgamated Bank lessened its holdings in shares of Textron Inc. (NYSE:TXT) by 3.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 31,741 shares of the aerospace company’s stock after selling 1,016 shares during the period. Amalgamated Bank’s holdings in Textron were worth $1,460,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the company. Oregon Public Employees Retirement Fund lifted its holdings in Textron by 4,444.2% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,274,199 shares of the aerospace company’s stock valued at $28,000 after buying an additional 1,246,159 shares during the period. Essex Savings Bank acquired a new position in Textron in the fourth quarter valued at $29,000. CWM LLC lifted its holdings in Textron by 38.6% in the fourth quarter. CWM LLC now owns 970 shares of the aerospace company’s stock valued at $45,000 after buying an additional 270 shares during the period. Intercontinental Wealth Advisors LLC acquired a new position in Textron in the fourth quarter valued at $61,000. Finally, Oppenheimer Asset Management Inc. acquired a new position in Textron in the fourth quarter valued at $63,000. Institutional investors own 83.88% of the company’s stock.

TXT traded down $0.05 during midday trading on Wednesday, hitting $54.23. The company had a trading volume of 1,909,435 shares, compared to its average volume of 1,820,005. Textron Inc. has a 52 week low of $43.27 and a 52 week high of $72.87. The company has a current ratio of 1.92, a quick ratio of 1.05 and a debt-to-equity ratio of 0.54. The company has a market cap of $12.70 billion, a P/E ratio of 16.24, a price-to-earnings-growth ratio of 1.19 and a beta of 1.65.

Textron (NYSE:TXT) last posted its earnings results on Wednesday, April 17th. The aerospace company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.70 by $0.06. The company had revenue of $31.09 million during the quarter, compared to the consensus estimate of $3.17 billion. Textron had a net margin of 8.79% and a return on equity of 15.66%. The firm’s revenue for the quarter was down 99.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.72 earnings per share. On average, research analysts forecast that Textron Inc. will post 3.69 EPS for the current fiscal year.

The firm also recently announced 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. This represents a $0.08 annualized dividend and a dividend yield of 0.15%. Textron’s payout ratio is presently 2.40%.

Several equities analysts recently issued reports on the stock. Zacks Investment Research lowered shares of Textron from a “buy” rating to a “hold” rating in a report on Tuesday, March 26th. Credit Suisse Group assumed coverage on shares of Textron in a report on Monday, April 1st. They issued a “neutral” rating and a $50.00 target price on the stock. Susquehanna Bancshares assumed coverage on shares of Textron in a research note on Thursday, January 10th. They issued a “neutral” rating and a $52.00 price target for the company. TheStreet downgraded shares of Textron from a “b” rating to a “c+” rating in a research note on Friday, January 4th. Finally, Jefferies Financial Group set a $59.00 price target on shares of Textron and gave the company a “buy” rating in a research note on Tuesday, January 8th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. Textron currently has a consensus rating of “Hold” and an average target price of $64.60.

In other news, 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 transaction of $246,375.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Scott C. Donnelly sold 230,654 shares of the business’s stock in a transaction dated Friday, February 22nd. The stock was sold at an average price of $55.04, for a total transaction of $12,695,196.16. Following the sale, the chairman now directly owns 707,495 shares of the company’s stock, valued at $38,940,524.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 458,112 shares of company stock valued at $25,222,635. 1.40% of the stock is currently owned by insiders.

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Textron Profile

Textron, Inc is a multi-industry company, which leverages global network of aircraft, defense, industrial, and finance businesses to provide customers innovative solutions and services. The company operates its business through the following segments: Textron Aviation, Bell, Textron Systems, Industrial, and Finance.

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Institutional Ownership by Quarter for Textron (NYSE:TXT)

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