Montag A & Associates Inc. Decreases Holdings in Textron Inc. (NYSE:TXT)

Montag A & Associates Inc. trimmed its stake in Textron Inc. (NYSE:TXT) by 13.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,436 shares of the aerospace company’s stock after selling 3,980 shares during the period. Montag A & Associates Inc.’s holdings in Textron were worth $2,184,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Envestnet Portfolio Solutions Inc. increased its stake in shares of Textron by 263.6% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 13,369 shares of the aerospace company’s stock worth $1,283,000 after purchasing an additional 9,692 shares in the last quarter. SageView Advisory Group LLC bought a new position in Textron in the 4th quarter worth $922,000. Studio Investment Management LLC bought a new position in Textron in the 4th quarter worth $1,223,000. Charles Schwab Investment Management Inc. boosted its holdings in Textron by 1.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,692,173 shares of the aerospace company’s stock worth $136,085,000 after buying an additional 19,769 shares during the period. Finally, Portfolio Design Labs LLC bought a new position in Textron in the 4th quarter worth $3,140,000. 86.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on TXT shares. Bank of America upped their target price on shares of Textron from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Citigroup increased their price objective on shares of Textron from $111.00 to $115.00 and gave the company a “buy” rating in a report on Monday, July 22nd. TD Cowen increased their price objective on shares of Textron from $100.00 to $103.00 and gave the company a “buy” rating in a report on Friday, July 19th. Morgan Stanley downgraded shares of Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 price objective for the company. in a report on Thursday, August 8th. Finally, UBS Group increased their price objective on shares of Textron from $84.00 to $87.00 and gave the company a “sell” rating in a report on Friday, July 19th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $102.50.

Textron Stock Performance

Textron stock opened at $91.20 on Monday. The firm has a market capitalization of $17.39 billion, a P/E ratio of 19.49, a price-to-earnings-growth ratio of 1.45 and a beta of 1.25. The company’s 50-day moving average is $88.35 and its 200 day moving average is $89.24. Textron Inc. has a 1-year low of $74.13 and a 1-year high of $97.33. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.79 and a quick ratio of 0.81.

Textron (NYSE:TXT) last issued its quarterly earnings data on Thursday, July 18th. The aerospace company reported $1.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.48 by $0.06. The company had revenue of $3.53 billion for the quarter, compared to analyst estimates of $3.56 billion. Textron had a net margin of 6.67% and a return on equity of 16.41%. Textron’s revenue was up 3.0% compared to the same quarter last year. During the same period last year, the company posted $1.46 earnings per share. Research analysts forecast that Textron Inc. will post 6.27 EPS for the current year.

Textron Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.09%. The ex-dividend date of this dividend is Friday, September 13th. Textron’s payout ratio is 1.71%.

Textron Profile

Textron Inc operates in the aircraft, defense, industrial, and finance businesses worldwide. It operates through six segments: Textron Aviation, Bell, Textron Systems, Industrial, Textron eAviation, and Finance. The Textron Aviation segment manufactures, sells, and services business jets, turboprop and piston engine aircraft, and military trainer and defense aircraft; and offers maintenance, inspection, and repair services, as well as sells commercial parts.