Northwestern Mutual Investment Management Company LLC Sells 11,851 Shares of Textron Inc. (TXT)

Northwestern Mutual Investment Management Company LLC lessened its position in Textron Inc. (NYSE:TXT) by 19.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 47,649 shares of the aerospace company’s stock after selling 11,851 shares during the quarter. Northwestern Mutual Investment Management Company LLC’s holdings in Textron were worth $2,810,000 as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. HPM Partners LLC acquired a new stake in Textron in the 4th quarter valued at approximately $214,000. Landscape Capital Management L.L.C. acquired a new stake in Textron in the 4th quarter valued at approximately $218,000. Tower Research Capital LLC TRC raised its position in Textron by 33,614.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,720 shares of the aerospace company’s stock valued at $267,000 after buying an additional 4,706 shares during the last quarter. BB&T Securities LLC raised its position in Textron by 45.4% in the 4th quarter. BB&T Securities LLC now owns 5,480 shares of the aerospace company’s stock valued at $310,000 after buying an additional 1,712 shares during the last quarter. Finally, IBM Retirement Fund raised its position in Textron by 45.1% in the 1st quarter. IBM Retirement Fund now owns 5,838 shares of the aerospace company’s stock valued at $344,000 after buying an additional 1,815 shares during the last quarter. 83.98% of the stock is currently owned by institutional investors and hedge funds.

Textron opened at $67.81 on Thursday, Marketbeat.com reports. The company has a market cap of $17.64 billion, a price-to-earnings ratio of 27.68, a P/E/G ratio of 1.92 and a beta of 1.39. Textron Inc. has a twelve month low of $45.00 and a twelve month high of $69.36. The company has a current ratio of 2.31, a quick ratio of 1.09 and a debt-to-equity ratio of 0.54.

Textron (NYSE:TXT) last posted its quarterly earnings results on Wednesday, April 18th. The aerospace company reported $0.72 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.26. The firm had revenue of $3.30 billion for the quarter, compared to analyst estimates of $3.06 billion. Textron had a return on equity of 12.65% and a net margin of 2.74%. The business’s quarterly revenue was up 6.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.46 EPS. research analysts forecast that Textron Inc. will post 3.15 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Sunday, July 1st. Investors of record on Friday, June 15th will be issued a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.12%. The ex-dividend date is Thursday, June 14th. Textron’s payout ratio is presently 3.27%.

A number of equities research analysts recently issued reports on TXT shares. ValuEngine lowered Textron from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 2nd. Zacks Investment Research raised Textron from a “hold” rating to a “buy” rating and set a $77.00 target price on the stock in a research report on Tuesday. Robert W. Baird lifted their target price on Textron from $68.00 to $72.00 and gave the company an “outperform” rating in a research report on Thursday, April 19th. Barclays initiated coverage on Textron in a research report on Thursday, March 29th. They set an “overweight” rating and a $70.00 price target on the stock. Finally, Bank of America raised Textron from an “underperform” rating to a “buy” rating and boosted their price target for the stock from $57.00 to $75.00 in a research report on Thursday, April 19th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have given a buy rating to the stock. Textron currently has an average rating of “Buy” and a consensus price target of $68.67.

In related news, CEO Scott C. Donnelly sold 158,237 shares of the business’s stock in a transaction that occurred on Friday, April 27th. The stock was sold at an average price of $63.05, for a total transaction of $9,976,842.85. Following the transaction, the chief executive officer now directly owns 715,106 shares of the company’s stock, valued at approximately $45,087,433.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Frank T. Connor sold 80,000 shares of the business’s stock in a transaction that occurred on Friday, April 27th. The stock was sold at an average price of $62.99, for a total value of $5,039,200.00. Following the transaction, the insider now directly owns 193,724 shares in the company, valued at $12,202,674.76. The disclosure for this sale can be found here. Insiders have sold a total of 250,225 shares of company stock worth $15,754,504 over the last three months. 1.20% of the stock is owned by insiders.

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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