Intech Investment Management LLC Sells 5,251 Shares of Textron Inc. (NYSE:TXT)

Intech Investment Management LLC trimmed its position in Textron Inc. (NYSE:TXT) by 40.5% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 7,721 shares of the aerospace company’s stock after selling 5,251 shares during the period. Intech Investment Management LLC’s holdings in Textron were worth $663,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TXT. Wedge Capital Management L L P NC purchased a new stake in shares of Textron during the second quarter valued at approximately $64,319,000. Ferguson Wellman Capital Management Inc. bought a new position in Textron during the first quarter valued at about $45,932,000. Canada Pension Plan Investment Board increased its holdings in Textron by 1,611.9% during the first quarter. Canada Pension Plan Investment Board now owns 433,100 shares of the aerospace company’s stock worth $41,547,000 after buying an additional 407,800 shares during the last quarter. LSV Asset Management raised its position in Textron by 6.9% in the first 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 during the period. Finally, Hsbc Holdings PLC boosted its stake in Textron by 77.7% in the fourth quarter. Hsbc Holdings PLC now owns 563,031 shares of the aerospace company’s stock valued at $45,285,000 after acquiring an additional 246,185 shares during the last quarter. Hedge funds and other institutional investors own 86.03% of the company’s stock.

Textron Stock Performance

Textron stock opened at $85.49 on Thursday. The firm’s 50 day simple moving average is $88.44 and its 200 day simple moving average is $89.22. The company has a current ratio of 1.79, a quick ratio of 0.81 and a debt-to-equity ratio of 0.47. Textron Inc. has a 1-year low of $74.13 and a 1-year high of $97.33. The firm has a market capitalization of $16.30 billion, a PE ratio of 18.27, a price-to-earnings-growth ratio of 1.38 and a beta of 1.23.

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, topping analysts’ consensus estimates of $1.48 by $0.06. Textron had a return on equity of 16.41% and a net margin of 6.67%. The company had revenue of $3.53 billion for the quarter, compared to the consensus estimate of $3.56 billion. During the same quarter last year, the business posted $1.46 earnings per share. The firm’s revenue was up 3.0% compared to the same quarter last year. As a group, analysts expect that Textron Inc. will post 6.26 earnings per share for the current fiscal year.

Textron Announces Dividend

The business 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 $0.02 dividend. 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

TXT has been the subject of several research analyst reports. Citigroup raised their price target on shares of Textron from $111.00 to $115.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. TD Cowen cut Textron from a “buy” rating to a “hold” rating and dropped their price target for the company from $103.00 to $95.00 in a research report on Wednesday. UBS Group lifted their price objective on Textron from $84.00 to $87.00 and gave the stock a “sell” 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 on the stock. in a report on Thursday, August 8th. Finally, Bank of America lifted their target price on shares of Textron from $105.00 to $110.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Textron currently has a consensus rating of “Hold” and an average price target of $101.50.

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.