Textron Inc. (NYSE:TXT) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC decreased its position in Textron Inc. (NYSE:TXT) by 5.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 142,505 shares of the aerospace company’s stock after selling 8,470 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.07% of Textron worth $11,460,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. JPMorgan Chase & Co. lifted its holdings in Textron by 27.7% in the 1st quarter. JPMorgan Chase & Co. now owns 4,596,887 shares of the aerospace company’s stock valued at $324,678,000 after acquiring an additional 997,119 shares during the last quarter. Man Group plc bought a new stake in Textron during the fourth quarter worth approximately $64,467,000. Adage Capital Partners GP L.L.C. grew its position in Textron by 93.7% in the third quarter. Adage Capital Partners GP L.L.C. now owns 1,474,191 shares of the aerospace company’s stock worth $115,193,000 after buying an additional 713,169 shares during the last quarter. Swiss National Bank bought a new position in shares of Textron in the third quarter valued at $50,696,000. Finally, BlackRock Inc. lifted its position in shares of Textron by 2.9% during the 1st quarter. BlackRock Inc. now owns 18,231,026 shares of the aerospace company’s stock valued at $1,287,657,000 after acquiring an additional 519,468 shares during the last quarter. Institutional investors own 86.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on TXT shares. StockNews.com raised Textron from a “buy” rating to a “strong-buy” rating in a research report on Thursday, January 25th. Citigroup lifted their target price on shares of Textron from $104.00 to $111.00 and gave the stock a “buy” rating in a research report on Thursday, April 4th. JPMorgan Chase & Co. boosted their price target on shares of Textron from $84.00 to $85.00 and gave the company a “neutral” rating in a report on Wednesday, December 20th. The Goldman Sachs Group reiterated a “buy” rating and set a $98.00 price objective on shares of Textron in a research report on Tuesday, January 2nd. Finally, Bank of America upgraded Textron from a “neutral” rating to a “buy” rating and increased their target price for the company from $85.00 to $105.00 in a report on Friday, March 8th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $90.88.

Textron Trading Down 1.0 %

Shares of NYSE:TXT opened at $93.06 on Tuesday. The firm has a fifty day moving average of $91.19 and a two-hundred day moving average of $83.03. The company has a quick ratio of 1.03, a current ratio of 1.92 and a debt-to-equity ratio of 0.50. Textron Inc. has a 12-month low of $61.27 and a 12-month high of $97.33. The firm has a market capitalization of $17.90 billion, a P/E ratio of 20.36, a price-to-earnings-growth ratio of 1.48 and a beta of 1.30.

Textron (NYSE:TXT) last released its quarterly earnings data on Wednesday, January 24th. The aerospace company reported $1.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.53 by $0.07. Textron had a return on equity of 16.05% and a net margin of 6.73%. The firm had revenue of $3.89 billion during the quarter, compared to analysts’ expectations of $3.97 billion. During the same quarter last year, the firm earned $1.07 earnings per share. The business’s revenue for the quarter was up 7.0% on a year-over-year basis. On average, equities analysts expect that Textron Inc. will post 6.27 EPS for the current fiscal year.

Textron Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were paid a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.09%. The ex-dividend date was Thursday, March 14th. Textron’s dividend payout ratio (DPR) is presently 1.75%.

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.