Sentry Investment Management LLC Sells 172 Shares of Textron Inc. (NYSE:TXT)

Sentry Investment Management LLC reduced its stake in Textron Inc. (NYSE:TXT) by 17.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 839 shares of the aerospace company’s stock after selling 172 shares during the period. Sentry Investment Management LLC’s holdings in Textron were worth $72,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Innealta Capital LLC bought a new stake in shares of Textron during the 2nd quarter worth about $25,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Textron during the second quarter worth approximately $30,000. Oakworth Capital Inc. bought a new stake in shares of Textron during the second quarter worth approximately $31,000. Family Firm Inc. acquired a new position in shares of Textron in the second quarter valued at approximately $40,000. Finally, Jones Financial Companies Lllp increased its stake in shares of Textron by 200.0% during the fourth quarter. Jones Financial Companies Lllp now owns 507 shares of the aerospace company’s stock worth $41,000 after purchasing an additional 338 shares during the period. 86.03% of the stock is owned by institutional investors.

Textron Price Performance

TXT stock opened at $87.70 on Friday. The company’s 50-day moving average price is $88.66 and its two-hundred day moving average price is $89.32. The firm has a market cap of $16.43 billion, a P/E ratio of 18.74, a P/E/G ratio of 1.37 and a beta of 1.23. The company has a quick ratio of 0.81, a current ratio of 1.79 and a debt-to-equity ratio of 0.47. Textron Inc. has a 12 month low of $74.13 and a 12 month high of $97.33.

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

Textron Dividend Announcement

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 given a dividend of $0.02 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.08 annualized dividend and a dividend yield of 0.09%. Textron’s dividend payout ratio is currently 1.71%.

Analyst Ratings Changes

Several research firms recently issued reports on TXT. StockNews.com downgraded Textron from a “strong-buy” rating to a “buy” rating in a research note on Thursday. Morgan Stanley cut shares of Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 target price for the company. in a research report on Thursday, August 8th. TD Cowen raised their price target on shares of Textron from $100.00 to $103.00 and gave the stock a “buy” rating in a research report on Friday, July 19th. UBS Group boosted 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. Finally, Bank of America increased their target price on shares of Textron from $105.00 to $110.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $102.50.

Textron Company 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.