Allspring Global Investments Holdings LLC trimmed its position in Textron Inc. (NYSE:TXT - Free Report) by 45.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,834 shares of the aerospace company's stock after selling 7,388 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Textron were worth $637,000 as of its most recent SEC filing.
Several other institutional investors have also recently modified their holdings of TXT. Syon Capital LLC lifted its holdings in Textron by 4.5% in the 4th quarter. Syon Capital LLC now owns 3,538 shares of the aerospace company's stock valued at $271,000 after purchasing an additional 153 shares in the last quarter. Motley Fool Asset Management LLC lifted its holdings in Textron by 6.3% in the 4th quarter. Motley Fool Asset Management LLC now owns 2,732 shares of the aerospace company's stock valued at $209,000 after purchasing an additional 163 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in Textron by 10.3% in the 4th quarter. Farther Finance Advisors LLC now owns 1,881 shares of the aerospace company's stock valued at $144,000 after purchasing an additional 175 shares in the last quarter. Exchange Traded Concepts LLC raised its holdings in shares of Textron by 7.4% during the 1st quarter. Exchange Traded Concepts LLC now owns 2,869 shares of the aerospace company's stock worth $207,000 after acquiring an additional 197 shares during the period. Finally, Parallel Advisors LLC raised its holdings in shares of Textron by 22.9% during the 1st quarter. Parallel Advisors LLC now owns 1,115 shares of the aerospace company's stock worth $81,000 after acquiring an additional 208 shares during the period. 86.03% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of brokerages recently issued reports on TXT. Morgan Stanley cut their price objective on Textron from $82.00 to $71.00 and set an "equal weight" rating for the company in a research report on Friday, April 11th. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $85.00 target price (down from $95.00) on shares of Textron in a research report on Tuesday, July 1st. Jefferies Financial Group reissued a "buy" rating and set a $95.00 price objective (up from $85.00) on shares of Textron in a research report on Thursday, June 12th. UBS Group upped their price target on Textron from $62.00 to $63.00 and gave the company a "sell" rating in a report on Monday, April 28th. Finally, Wall Street Zen downgraded Textron from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 5th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $88.08.
Read Our Latest Analysis on TXT
Textron Stock Down 0.5%
Shares of TXT traded down $0.40 during trading hours on Friday, hitting $84.83. 347,192 shares of the company were exchanged, compared to its average volume of 1,269,844. The company has a market cap of $15.31 billion, a PE ratio of 19.22, a PEG ratio of 1.34 and a beta of 1.17. The firm's 50 day moving average is $76.58 and its 200-day moving average is $74.11. Textron Inc. has a 52 week low of $57.70 and a 52 week high of $94.57. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.83 and a current ratio of 1.80.
Textron (NYSE:TXT - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The aerospace company reported $1.28 EPS for the quarter, topping analysts' consensus estimates of $1.17 by $0.11. Textron had a return on equity of 14.77% and a net margin of 5.98%. The company had revenue of $3.31 billion during the quarter, compared to the consensus estimate of $3.26 billion. During the same quarter last year, the company earned $1.20 EPS. The company's quarterly revenue was up 5.5% on a year-over-year basis. On average, equities research analysts forecast that Textron Inc. will post 6.12 EPS for the current fiscal year.
Textron Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Friday, June 13th were given a dividend of $0.02 per share. The ex-dividend date was Friday, June 13th. This represents a $0.08 annualized dividend and a dividend yield of 0.09%. Textron's dividend payout ratio (DPR) is presently 1.81%.
Textron Company Profile
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Free Report)
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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