Chevy Chase Trust Holdings LLC cut its position in shares of Textron Inc. (NYSE:TXT – Free Report) by 1.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 95,942 shares of the aerospace company’s stock after selling 1,599 shares during the quarter. Chevy Chase Trust Holdings LLC owned 0.05% of Textron worth $6,932,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of TXT. SBI Securities Co. Ltd. bought a new position in shares of Textron in the fourth quarter worth $31,000. Optiver Holding B.V. acquired a new position in shares of Textron in the fourth quarter worth about $56,000. MassMutual Private Wealth & Trust FSB lifted its position in shares of Textron by 123.3% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 842 shares of the aerospace company’s stock valued at $61,000 after acquiring an additional 465 shares in the last quarter. Parallel Advisors LLC lifted its holdings in shares of Textron by 22.9% in the first quarter. Parallel Advisors LLC now owns 1,115 shares of the aerospace company’s stock valued at $81,000 after purchasing an additional 208 shares in the last quarter. Finally, ORG Wealth Partners LLC acquired a new stake in Textron during the 1st quarter worth about $92,000. 86.03% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
TXT has been the subject of several recent research reports. Morgan Stanley decreased their target price on shares of Textron from $82.00 to $71.00 and set an “equal weight” rating for the company in a research report on Friday, April 11th. Jefferies Financial Group restated a “buy” rating and set a $95.00 target price (up previously from $85.00) on shares of Textron in a research note on Thursday, June 12th. Citigroup decreased their target price on Textron from $111.00 to $107.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. Finally, UBS Group lifted their target price on shares of Textron from $62.00 to $63.00 and gave the company a “sell” rating in a research report on Monday, April 28th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $88.36.
Textron Stock Performance
NYSE:TXT opened at $80.36 on Friday. Textron Inc. has a twelve month low of $57.70 and a twelve month high of $94.57. The company has a quick ratio of 0.83, a current ratio of 1.80 and a debt-to-equity ratio of 0.46. The stock’s 50-day simple moving average is $73.76 and its 200 day simple moving average is $73.93. The firm has a market capitalization of $14.51 billion, a PE ratio of 18.22, a price-to-earnings-growth ratio of 1.29 and a beta of 1.16.
Textron (NYSE:TXT – Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The aerospace company reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.17 by $0.11. The company had revenue of $3.31 billion for the quarter, compared to analysts’ expectations of $3.26 billion. Textron had a return on equity of 14.77% and a net margin of 5.98%. The business’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period in the previous year, the business posted $1.20 earnings per share. On average, analysts anticipate that Textron Inc. will post 6.12 EPS for the current fiscal year.
Textron Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be given a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.10%. The ex-dividend date is Friday, June 13th. Textron’s payout ratio is 1.81%.
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.
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