Charles Schwab Investment Management Inc. Sells 3,909 Shares of Textron Inc. (NYSE:TXT)

Key Points

• Charles Schwab Investment Management Inc. reduced its stake in Textron Inc. by 0.2%, owning 1,674,945 shares after selling 3,909 shares, valued at approximately $121 million.
• Textron's recent quarterly earnings exceeded analysts' expectations, reporting $1.55 earnings per share and $3.72 billion in revenue, with a projected 6.12 EPS for the current fiscal year.
• The stock has a consensus rating of Moderate Buy with a price target of $92.67, following various analysts' upgrades and downgrades on its price objectives.

Charles Schwab Investment Management Inc. lessened its holdings in Textron Inc. (NYSE:TXT - Free Report) by 0.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,674,945 shares of the aerospace company's stock after selling 3,909 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.93% of Textron worth $121,015,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Syon Capital LLC increased its position in Textron by 4.5% during 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 during the period. Exchange Traded Concepts LLC grew its position 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 buying an additional 197 shares during the period. Transce3nd LLC grew its position in shares of Textron by 14.0% during the 1st quarter. Transce3nd LLC now owns 1,617 shares of the aerospace company's stock worth $116,000 after buying an additional 199 shares during the period. Parallel Advisors LLC grew its position 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 buying an additional 208 shares during the period. Finally, Apollon Wealth Management LLC grew its position in shares of Textron by 6.4% during the 1st quarter. Apollon Wealth Management LLC now owns 3,599 shares of the aerospace company's stock worth $260,000 after buying an additional 215 shares during the period. Institutional investors own 86.03% of the company's stock.

Textron Stock Down 1.7%

Shares of TXT stock traded down $1.37 on Friday, hitting $78.95. The stock had a trading volume of 1,352,878 shares, compared to its average volume of 1,879,055. The business has a 50 day moving average of $80.18 and a 200 day moving average of $74.74. The stock has a market cap of $14.07 billion, a price-to-earnings ratio of 17.86, a price-to-earnings-growth ratio of 1.31 and a beta of 1.16. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.84 and a quick ratio of 0.84. Textron Inc. has a 12-month low of $57.70 and a 12-month high of $91.48.

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

Textron Announces Dividend

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

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Morgan Stanley raised their price objective on shares of Textron from $71.00 to $86.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 17th. The Goldman Sachs Group reissued a "neutral" rating and issued a $85.00 price target (down previously from $95.00) on shares of Textron in a research report on Tuesday, July 1st. Susquehanna lifted their price target on shares of Textron from $90.00 to $95.00 and gave the company a "positive" rating in a research report on Friday, July 25th. Wall Street Zen downgraded shares of Textron from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 26th. Finally, UBS Group raised shares of Textron from a "sell" rating to a "neutral" rating and lifted their price target for the company from $73.00 to $88.00 in a research report on Monday, July 28th. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $92.67.

Insiders Place Their Bets

In related news, EVP Julie G. Duffy sold 28,543 shares of the stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $79.37, for a total transaction of $2,265,457.91. Following the completion of the transaction, the executive vice president owned 37,624 shares in the company, valued at approximately $2,986,216.88. This represents a 43.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.70% of the company's stock.

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.