Textron Inc. (NYSE:TXT) Shares Sold by Boston Partners

Key Points

• Boston Partners reduced its stake in Textron Inc. by **5.4%**, selling **402,183 shares** during the first quarter, now holding approximately **3.92%** of the company worth **$511.5 million**.
• Textron's recent quarterly earnings exceeded expectations with an **EPS of $1.55**, surpassing the consensus estimate of **$1.45**, and revenue was up **5.4%** to **$3.72 billion**.
• The company announced a quarterly dividend of **$0.02 per share**, set to be paid on **October 1st**, representing an annualized yield of **0.1%**.

Boston Partners cut its holdings in Textron Inc. (NYSE:TXT - Free Report) by 5.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,081,509 shares of the aerospace company's stock after selling 402,183 shares during the quarter. Boston Partners owned about 3.92% of Textron worth $511,517,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Resona Asset Management Co. Ltd. boosted its stake in Textron by 6.7% during the first quarter. Resona Asset Management Co. Ltd. now owns 57,504 shares of the aerospace company's stock worth $4,161,000 after buying an additional 3,590 shares in the last quarter. Public Sector Pension Investment Board lifted its position in Textron by 6.5% during the 1st quarter. Public Sector Pension Investment Board now owns 24,452 shares of the aerospace company's stock valued at $1,767,000 after purchasing an additional 1,497 shares during the period. Motley Fool Asset Management LLC increased its stake in shares of Textron by 10.5% in the 1st quarter. Motley Fool Asset Management LLC now owns 3,020 shares of the aerospace company's stock valued at $218,000 after acquiring an additional 288 shares during the last quarter. CCM Investment Group LLC bought a new stake in shares of Textron in the 1st quarter valued at about $1,335,000. Finally, Nuveen LLC bought a new stake in Textron during the 1st quarter worth approximately $89,403,000. 86.03% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Morgan Stanley increased their price objective on Textron from $71.00 to $86.00 and gave the company an "equal weight" rating in a report on Thursday, July 17th. Wall Street Zen cut Textron from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 26th. Jefferies Financial Group reissued a "buy" rating and set a $95.00 price target (up from $85.00) on shares of Textron in a research note on Thursday, June 12th. UBS Group upgraded Textron from a "sell" rating to a "neutral" rating and upped their target price for the company from $73.00 to $88.00 in a report on Monday, July 28th. Finally, Susquehanna boosted their price target on Textron from $90.00 to $95.00 and gave the company a "positive" rating in a research note on Friday, July 25th. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $92.67.

Textron Trading Down 1.7%

Shares of NYSE TXT traded down $1.37 during midday trading on Friday, hitting $78.95. The company's stock had a trading volume of 1,352,878 shares, compared to its average volume of 1,879,055. The company has a current ratio of 1.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.45. The business's 50 day moving average is $80.18 and its two-hundred day moving average is $74.74. Textron Inc. has a 12-month low of $57.70 and a 12-month high of $91.48. The firm has a market cap of $14.07 billion, a P/E ratio of 17.86, a price-to-earnings-growth ratio of 1.31 and a beta of 1.16.

Textron (NYSE:TXT - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The aerospace company reported $1.55 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.45 by $0.10. The business had revenue of $3.72 billion for the quarter, compared to the consensus estimate of $3.64 billion. Textron had a return on equity of 14.26% and a net margin of 5.80%. The business's revenue was up 5.4% compared to the same quarter last year. During the same period last year, the business posted $1.54 EPS. As a group, equities research analysts expect that Textron Inc. will post 6.12 EPS for the current year.

Textron Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, September 12th will be issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.1%. The ex-dividend date is Friday, September 12th. Textron's payout ratio is currently 1.81%.

Insider Buying and Selling at Textron

In other news, EVP Julie G. Duffy sold 28,543 shares of the business's stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $79.37, for a total transaction of $2,265,457.91. Following the transaction, the executive vice president directly owned 37,624 shares in the company, valued at $2,986,216.88. The trade was a 43.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.70% of the stock is currently owned by corporate insiders.

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.