Amalgamated Bank Sells 5,909 Shares of Textron Inc. (NYSE:TXT)

Amalgamated Bank lessened its position in shares of Textron Inc. (NYSE:TXT) by 10.3% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 51,503 shares of the aerospace company’s stock after selling 5,909 shares during the period. Amalgamated Bank’s holdings in Textron were worth $4,422,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Innealta Capital LLC bought a new stake in Textron in the 2nd quarter valued at $25,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Textron during the second quarter worth $30,000. Oakworth Capital Inc. bought a new stake in shares of Textron in the second quarter valued at about $31,000. Family Firm Inc. acquired a new position in shares of Textron in the second quarter valued at about $40,000. Finally, Jones Financial Companies Lllp increased its position in 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 acquiring an additional 338 shares during the period. Institutional investors and hedge funds own 86.03% of the company’s stock.

Textron Price Performance

Shares of TXT stock opened at $87.91 on Friday. The business has a fifty day simple moving average of $88.80 and a 200 day simple moving average of $89.32. The company has a market cap of $16.76 billion, a P/E ratio of 18.78, a P/E/G ratio of 1.40 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 twelve month low of $74.13 and a twelve month high of $97.33.

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

Textron Announces Dividend

The company 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 dividend yield of 0.09%. The ex-dividend date is Friday, September 13th. Textron’s dividend payout ratio (DPR) is 1.71%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on TXT shares. 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. StockNews.com downgraded Textron from a “strong-buy” rating to a “buy” rating in a research report on Thursday, September 12th. Citigroup raised their price objective on Textron from $111.00 to $115.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Bank of America upped their target price on Textron from $105.00 to $110.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Finally, UBS Group raised their price target on Textron from $84.00 to $87.00 and gave the stock a “sell” rating in a research report on Friday, July 19th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $102.50.

About Textron

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.