Swiss National Bank Sells 29,400 Shares of Textron Inc. (NYSE:TXT)

Swiss National Bank reduced its holdings in shares of Textron Inc. (NYSE:TXT) by 4.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 619,389 shares of the aerospace company’s stock after selling 29,400 shares during the period. Swiss National Bank owned about 0.32% of Textron worth $49,811,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Textron by 2.2% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 15,606 shares of the aerospace company’s stock worth $1,219,000 after purchasing an additional 331 shares during the period. Raymond James & Associates boosted its holdings in shares of Textron by 15.2% during the third quarter. Raymond James & Associates now owns 197,994 shares of the aerospace company’s stock worth $15,471,000 after purchasing an additional 26,085 shares during the period. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Textron by 13.6% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 29,355 shares of the aerospace company’s stock worth $2,294,000 after purchasing an additional 3,503 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in Textron by 5.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,631 shares of the aerospace company’s stock worth $2,003,000 after buying an additional 1,280 shares in the last quarter. Finally, Advisor Partners II LLC raised its stake in Textron by 11.8% in the third quarter. Advisor Partners II LLC now owns 14,676 shares of the aerospace company’s stock worth $1,147,000 after buying an additional 1,551 shares in the last quarter. 86.03% of the stock is currently owned by institutional investors.

Textron Trading Up 1.5 %

TXT stock opened at $86.90 on Tuesday. Textron Inc. has a 1-year low of $61.27 and a 1-year high of $97.33. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.81 and a quick ratio of 0.84. The company has a market capitalization of $16.57 billion, a price-to-earnings ratio of 18.57, a PEG ratio of 1.35 and a beta of 1.32. The business has a 50 day simple moving average of $92.10 and a two-hundred day simple moving average of $84.22.

Textron (NYSE:TXT) last issued its quarterly earnings data on Thursday, April 25th. The aerospace company reported $1.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.28 by ($0.08). Textron had a return on equity of 16.30% and a net margin of 6.75%. The firm had revenue of $3.14 billion for the quarter, compared to analysts’ expectations of $3.29 billion. During the same period last year, the company earned $1.05 earnings per share. The firm’s revenue was up 3.7% on a year-over-year basis. Research analysts anticipate that Textron Inc. will post 6.27 EPS for the current fiscal year.

Textron Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be issued a dividend of $0.02 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.08 annualized dividend and a yield of 0.09%. Textron’s payout ratio is presently 1.71%.

Analyst Ratings Changes

TXT has been the subject of a number of research reports. Citigroup increased their price target on shares of Textron from $104.00 to $111.00 and gave the stock a “buy” rating in a research note on Thursday, April 4th. The Goldman Sachs Group increased their price target on shares of Textron from $103.00 to $120.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. UBS Group raised their target price on shares of Textron from $77.00 to $81.00 and gave the company a “sell” rating in a research note on Friday, January 26th. StockNews.com downgraded shares of Textron from a “strong-buy” rating to a “buy” rating in a research note on Friday, April 26th. Finally, Bank of America raised shares of Textron from a “neutral” rating to a “buy” rating and raised their target price for the company from $85.00 to $105.00 in a research note on Friday, March 8th. One analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $95.63.

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.