Allspring Global Investments Holdings LLC Sells 7,388 Shares of Textron Inc. (NYSE:TXT)

Allspring Global Investments Holdings LLC decreased its position in shares of Textron Inc. (NYSE:TXT - Free Report) by 45.5% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor 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 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Syon Capital LLC raised its holdings in shares of Textron by 4.5% in the 4th quarter. Syon Capital LLC now owns 3,538 shares of the aerospace company's stock worth $271,000 after purchasing an additional 153 shares during the period. Motley Fool Asset Management LLC grew its holdings in shares of Textron by 6.3% during the 4th quarter. Motley Fool Asset Management LLC now owns 2,732 shares of the aerospace company's stock worth $209,000 after purchasing an additional 163 shares during the period. Farther Finance Advisors LLC raised its holdings in Textron by 10.3% in the fourth quarter. Farther Finance Advisors LLC now owns 1,881 shares of the aerospace company's stock valued at $144,000 after buying an additional 175 shares during the period. Exchange Traded Concepts LLC lifted its position in Textron by 7.4% during the first quarter. Exchange Traded Concepts LLC now owns 2,869 shares of the aerospace company's stock valued at $207,000 after buying an additional 197 shares in the last quarter. Finally, Parallel Advisors LLC grew its stake in Textron by 22.9% during the first quarter. Parallel Advisors LLC now owns 1,115 shares of the aerospace company's stock worth $81,000 after buying an additional 208 shares during the period. Institutional investors own 86.03% of the company's stock.

Textron Price Performance

TXT opened at $82.47 on Thursday. The company has a market capitalization of $14.89 billion, a P/E ratio of 18.70, a PEG ratio of 1.34 and a beta of 1.17. The company has a 50-day moving average of $76.28 and a 200-day moving average of $74.05. 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 Inc. has a 1-year low of $57.70 and a 1-year high of $94.57.

Textron (NYSE:TXT - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The aerospace company reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.17 by $0.11. Textron had a return on equity of 14.77% and a net margin of 5.98%. The firm had revenue of $3.31 billion during the quarter, compared to analyst estimates of $3.26 billion. During the same period in the previous year, the company earned $1.20 earnings per share. Textron's quarterly revenue was up 5.5% on a year-over-year basis. Equities analysts expect that Textron Inc. will post 6.12 EPS for the current fiscal year.

Textron Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th were issued a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.10%. The ex-dividend date was Friday, June 13th. Textron's dividend payout ratio is presently 1.81%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on TXT shares. Morgan Stanley cut their target price on shares of Textron from $82.00 to $71.00 and set an "equal weight" rating on the stock in a research note on Friday, April 11th. Jefferies Financial Group reissued a "buy" rating and issued 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 target price on Textron from $62.00 to $63.00 and gave the stock a "sell" rating in a research report on Monday, April 28th. Citigroup lowered their target price on Textron from $111.00 to $107.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. Finally, The Goldman Sachs Group restated a "neutral" rating and issued a $85.00 price target (down previously from $95.00) on shares of Textron in a report on Tuesday, July 1st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $88.08.

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.

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