Pflug Koory LLC Sells 435 Shares of Textron Inc. (TXT)

Pflug Koory LLC lessened its holdings in Textron Inc. (NYSE:TXT) by 2.3% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 18,616 shares of the aerospace company’s stock after selling 435 shares during the quarter. Pflug Koory LLC’s holdings in Textron were worth $943,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Oregon Public Employees Retirement Fund grew its holdings in shares of Textron by 4,444.2% during 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 last quarter. Lake Point Wealth Management purchased a new stake in shares of Textron during the fourth quarter valued at approximately $28,000. Essex Savings Bank purchased a new stake in shares of Textron during the fourth quarter valued at approximately $29,000. North Star Investment Management Corp. purchased a new stake in shares of Textron during the first quarter valued at approximately $36,000. Finally, CWM LLC grew its holdings in shares of Textron by 38.6% during 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 last quarter. Institutional investors and hedge funds own 83.88% of the company’s stock.

Several brokerages recently issued reports on TXT. Zacks Investment Research cut shares of Textron from a “buy” rating to a “hold” rating in a report on Tuesday, March 26th. Credit Suisse Group began 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 began coverage on shares of Textron in a report on Thursday, January 10th. They issued a “neutral” rating and a $52.00 target price on the stock. TheStreet cut shares of Textron from a “b” rating to a “c+” rating in a report on Friday, January 4th. Finally, Jefferies Financial Group set a $59.00 target price on shares of Textron and gave the stock a “buy” rating in a report on Tuesday, January 8th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $66.08.

In other Textron news, VP Mark S. Bamford sold 4,500 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $54.75, for a total value of $246,375.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Scott C. Donnelly sold 150,226 shares of the firm’s stock in a transaction on Wednesday, February 20th. The shares were sold at an average price of $55.04, for a total transaction of $8,268,439.04. Following the sale, the chief executive officer now owns 707,495 shares in the company, valued at $38,940,524.80. The disclosure for this sale can be found here. Insiders sold 458,112 shares of company stock worth $25,222,635 over the last quarter. Insiders own 1.40% of the company’s stock.

TXT traded up $0.31 during trading on Thursday, hitting $50.77. The company’s stock had a trading volume of 1,264,059 shares, compared to its average volume of 1,736,247. The company has a current ratio of 2.14, a quick ratio of 1.05 and a debt-to-equity ratio of 0.68. Textron Inc. has a one year low of $43.27 and a one year high of $72.87. The company has a market capitalization of $11.80 billion, a PE ratio of 15.20, a PEG ratio of 1.09 and a beta of 1.65.

Textron (NYSE:TXT) last released its quarterly earnings results on Thursday, January 24th. The aerospace company reported $1.15 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.98 by $0.17. Textron had a net margin of 8.75% and a return on equity of 15.51%. The business had revenue of $3.75 billion for the quarter, compared to the consensus estimate of $3.99 billion. During the same period last year, the firm earned $0.74 earnings per share. The company’s quarterly revenue was down 6.6% on a year-over-year basis. Equities analysts forecast that Textron Inc. will post 3.67 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were given a $0.02 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.08 annualized dividend and a yield of 0.16%. Textron’s payout ratio is presently 2.40%.

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About Textron

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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