Textron Inc. (NYSE:TXT) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. decreased its holdings in Textron Inc. (NYSE:TXT) by 45.0% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 651 shares of the aerospace company’s stock after selling 533 shares during the period. Federated Hermes Inc.’s holdings in Textron were worth $56,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of TXT. Envestnet Portfolio Solutions Inc. lifted its holdings in shares of Textron by 263.6% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 13,369 shares of the aerospace company’s stock valued at $1,283,000 after acquiring an additional 9,692 shares in the last quarter. Studio Investment Management LLC acquired a new stake in shares of Textron in the fourth quarter valued at about $1,223,000. SG Americas Securities LLC raised its holdings in shares of Textron by 461.1% during the 1st quarter. SG Americas Securities LLC now owns 117,257 shares of the aerospace company’s stock valued at $11,248,000 after buying an additional 96,361 shares during the period. LSV Asset Management lifted its position in Textron by 6.9% during the 1st quarter. LSV Asset Management now owns 4,053,050 shares of the aerospace company’s stock worth $388,809,000 after acquiring an additional 260,003 shares in the last quarter. Finally, Cetera Investment Advisers boosted its holdings in Textron by 579.5% in the 1st quarter. Cetera Investment Advisers now owns 50,684 shares of the aerospace company’s stock worth $4,862,000 after acquiring an additional 43,225 shares during the period. 86.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on TXT. Morgan Stanley cut shares of Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 target price on the stock. in a research report on Thursday, August 8th. TD Cowen downgraded Textron from a “buy” rating to a “hold” rating and lowered their target price for the company from $103.00 to $95.00 in a research note on Wednesday. UBS Group boosted their price target on Textron from $84.00 to $87.00 and gave the stock a “sell” rating in a research note on Friday, July 19th. StockNews.com lowered Textron from a “strong-buy” rating to a “buy” rating in a research note on Thursday, September 12th. Finally, Citigroup upped their target price on Textron from $111.00 to $115.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $101.50.

Textron Stock Performance

Textron stock opened at $85.49 on Thursday. The company has a market cap of $16.30 billion, a PE ratio of 18.27, a P/E/G ratio of 1.38 and a beta of 1.23. Textron Inc. has a 12 month low of $74.13 and a 12 month high of $97.33. The company has a fifty day moving average price of $88.44 and a two-hundred day moving average price of $89.22. 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 released its quarterly earnings data on Thursday, July 18th. The aerospace company reported $1.54 earnings per share for the quarter, topping the consensus estimate of $1.48 by $0.06. Textron had a net margin of 6.67% and a return on equity of 16.41%. The firm had revenue of $3.53 billion for the quarter, compared to analyst estimates of $3.56 billion. During the same quarter in the prior year, the business earned $1.46 earnings per share. Textron’s quarterly revenue was up 3.0% on a year-over-year basis. Research analysts expect that Textron Inc. will post 6.26 earnings per share for the current year.

Textron Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be given a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.09%. The ex-dividend date is Friday, September 13th. Textron’s dividend payout ratio is presently 1.71%.

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.