Citigroup Inc. Boosts Holdings in Textron Inc. (NYSE:TXT)

Citigroup Inc. boosted its position in Textron Inc. (NYSE:TXT - Free Report) by 28.0% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 299,563 shares of the aerospace company's stock after purchasing an additional 65,553 shares during the period. Citigroup Inc. owned about 0.17% of Textron worth $21,643,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Banque Cantonale Vaudoise bought a new stake in Textron in the 1st quarter worth about $25,000. Harvest Fund Management Co. Ltd grew its position in Textron by 100.0% in the 1st quarter. Harvest Fund Management Co. Ltd now owns 524 shares of the aerospace company's stock worth $39,000 after purchasing an additional 262 shares in the last quarter. Optiver Holding B.V. bought a new stake in Textron in the 4th quarter worth about $56,000. Federated Hermes Inc. grew its position in Textron by 48.8% in the 1st quarter. Federated Hermes Inc. now owns 802 shares of the aerospace company's stock worth $58,000 after purchasing an additional 263 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB grew its position in Textron by 123.3% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 842 shares of the aerospace company's stock worth $61,000 after purchasing an additional 465 shares in the last quarter. 86.03% of the stock is owned by institutional investors.

Insider Activity at Textron

In related news, EVP Julie G. Duffy sold 28,543 shares of the company's stock in a transaction that occurred on 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 sale, the executive vice president directly owned 37,624 shares in the company, valued at approximately $2,986,216.88. This represents a 43.14% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.70% of the company's stock.

Textron Stock Performance

Shares of TXT stock traded down $1.37 during trading on Friday, reaching $78.95. 1,352,878 shares of the company's stock traded hands, compared to its average volume of 1,879,055. The company has a market capitalization of $14.07 billion, a P/E ratio of 17.86, a PEG ratio of 1.31 and a beta of 1.16. 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 firm's 50-day moving average is $80.18 and its 200 day moving average is $74.74. Textron Inc. has a 1 year low of $57.70 and a 1 year high of $91.48.

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

Textron Announces Dividend

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

Analyst Upgrades and Downgrades

TXT has been the subject of a number of research reports. Barclays increased their target price on shares of Textron from $95.00 to $105.00 and gave the company an "overweight" rating in a research report on Tuesday, July 29th. The Goldman Sachs Group reissued a "neutral" rating and set a $85.00 target price (down from $95.00) on shares of Textron in a research report on Tuesday, July 1st. UBS Group raised shares of Textron from a "sell" rating to a "neutral" rating and increased their target price for the company from $73.00 to $88.00 in a research report on Monday, July 28th. 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, Susquehanna increased their target price 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. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $92.67.

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.