LS Investment Advisors LLC Sells 746 Shares of Textron Inc. (TXT)

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LS Investment Advisors LLC reduced its stake in shares of Textron Inc. (NYSE:TXT) by 9.1% in the 1st quarter, HoldingsChannel reports. The fund owned 7,443 shares of the aerospace company’s stock after selling 746 shares during the period. LS Investment Advisors LLC’s holdings in Textron were worth $377,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Thrivent Financial for Lutherans raised its position in Textron by 1.8% during the fourth quarter. Thrivent Financial for Lutherans now owns 11,191 shares of the aerospace company’s stock valued at $515,000 after acquiring an additional 197 shares in the last quarter. Bessemer Group Inc. raised its position in Textron by 13.3% during the fourth quarter. Bessemer Group Inc. now owns 1,777 shares of the aerospace company’s stock valued at $82,000 after acquiring an additional 209 shares in the last quarter. CWM LLC raised its position in 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 acquiring an additional 270 shares in the last quarter. Commonwealth Equity Services LLC raised its position in Textron by 0.9% during the fourth quarter. Commonwealth Equity Services LLC now owns 31,219 shares of the aerospace company’s stock valued at $1,435,000 after acquiring an additional 272 shares in the last quarter. Finally, BLB&B Advisors LLC raised its position in Textron by 0.6% during the fourth quarter. BLB&B Advisors LLC now owns 66,471 shares of the aerospace company’s stock valued at $3,057,000 after acquiring an additional 375 shares in the last quarter. Institutional investors own 83.89% of the company’s stock.

Shares of TXT opened at $52.49 on Friday. The company has a current ratio of 2.17, a quick ratio of 0.99 and a debt-to-equity ratio of 0.67. Textron Inc. has a 12 month low of $43.27 and a 12 month high of $72.87. The company has a market capitalization of $12.31 billion, a price-to-earnings ratio of 15.72, a price-to-earnings-growth ratio of 1.14 and a beta of 1.65.

Textron (NYSE:TXT) last issued its quarterly earnings data on Wednesday, April 17th. The aerospace company reported $0.76 EPS for the quarter, beating the consensus estimate of $0.70 by $0.06. Textron had a return on equity of 15.66% and a net margin of 8.79%. The company had revenue of $31.09 million for the quarter, compared to analyst estimates of $3.17 billion. During the same period last year, the company earned $0.72 earnings per share. Textron’s quarterly revenue was down 99.1% compared to the same quarter last year. Research analysts anticipate that Textron Inc. will post 3.7 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be issued a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.15%. The ex-dividend date is Thursday, June 13th. Textron’s payout ratio is currently 2.40%.

Several research analysts recently weighed in on the company. Zacks Investment Research upgraded Textron from a “hold” rating to a “buy” rating and set a $60.00 price target for the company in a research report on Wednesday, February 13th. TheStreet raised Textron from a “c+” rating to a “b” rating in a report on Thursday, January 31st. Credit Suisse Group initiated coverage on Textron in a report on Monday, April 1st. They issued a “neutral” rating and a $50.00 price objective on the stock. Susquehanna Bancshares initiated coverage on Textron in a report on Thursday, January 10th. They issued a “neutral” rating and a $52.00 price objective on the stock. Finally, ValuEngine raised Textron from a “sell” rating to a “hold” rating in a report on Tuesday, January 15th. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. Textron presently has a consensus rating of “Hold” and an average target price of $64.60.

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

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Textron Company 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.

Further Reading: Google Finance Portfolio Workaround

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Institutional Ownership by Quarter for Textron (NYSE:TXT)

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