Tcw Group Inc Lowers stake in Textron (TXT)

Textron (TXT) : Tcw Group Inc reduced its stake in Textron by 5.6% during the most recent quarter end. The investment management company now holds a total of 2,933,419 shares of Textron which is valued at $132,414,534 after selling 174,036 shares in Textron , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.Textron makes up approximately 1.02% of Tcw Group Inc’s portfolio.

Other Hedge Funds, Including , Glassman Wealth Services reduced its stake in TXT by selling 389 shares or 97.25% in the most recent quarter. The Hedge Fund company now holds 11 shares of TXT which is valued at $497.Ls Investment Advisors reduced its stake in TXT by selling 1,124 shares or 10.05% in the most recent quarter. The Hedge Fund company now holds 10,060 shares of TXT which is valued at $409,945. Textron makes up approx 0.03% of Ls Investment Advisors’s portfolio.Tokio Marine Asset Management Co Ltd reduced its stake in TXT by selling 527 shares or 5.42% in the most recent quarter. The Hedge Fund company now holds 9,196 shares of TXT which is valued at $358,644. Textron makes up approx 0.04% of Tokio Marine Asset Management Co Ltd’s portfolio. Physicians Financial Services sold out all of its stake in TXT during the most recent quarter. The investment firm sold 1,000 shares of TXT which is valued $39,000.Mutual Of America Capital Management boosted its stake in TXT in the latest quarter, The investment management firm added 1,795 additional shares and now holds a total of 32,524 shares of Textron which is valued at $1,268,436. Textron makes up approx 0.03% of Mutual Of America Capital Management’s portfolio.

Textron closed down -0.33 points or -0.74% at $44.24 with 8,41,145 shares getting traded on Monday. Post opening the session at $44.39, the shares hit an intraday low of $44.17 and an intraday high of $44.4 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Textron reported $0.61 EPS for the quarter, missing the analyst consensus estimate by $ -0.04 based on the information available during the earnings call on Oct 20, 2016. Analyst had a consensus of $0.65. The company had revenue of $3300.00 million for the quarter, compared to analysts expectations of $3405.60 million. The company’s revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.63 EPS.

Investors should note that on Oct 26, 2016, Textron announced a cash dividend of $0.0200. The company’s management has announced Dec 7, 2016 as the ex-dividend date and fixed the record date on Dec 9, 2016. The payable date has been fixed on Jan 1, 2017.

Textron Inc. is a multi-industry company engaged in aircraft defense industrial and finance businesses to provide customers with products and services worldwide. It operates in five segments: Textron Aviation Bell Textron Systems Industrial and Finance. Textron Aviation manufactures sells and services Beechcraft and Cessna aircraft and services the Hawker brand of business jets. Bell Helicopter is a supplier of military and commercial helicopters tiltrotor aircraft and related spare parts and services in the world. Textron Systems’ product lines consist of unmanned aircraft systems marine and land systems weapons and sensors simulation training and other defense and aviation mission support products and services. The Industrial segment designs and manufactures a range of products under three principal product lines. The Finance segment provides financing primarily to purchasers of new and pre-owned Textron Aviation aircraft and Bell helicopters.

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