Davis Investment Partners LLC Lowers Position in Textron Inc. (NYSE:TXT)

Davis Investment Partners LLC cut its stake in Textron Inc. (NYSE:TXT - Free Report) by 34.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,405 shares of the aerospace company's stock after selling 3,934 shares during the period. Davis Investment Partners LLC's holdings in Textron were worth $489,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. acquired a new stake in shares of Textron during the fourth quarter worth $31,000. Optiver Holding B.V. bought a new position in Textron in the 4th quarter valued at about $56,000. 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 valued at $61,000 after buying an additional 465 shares in the last quarter. McClarren Financial Advisors Inc. bought a new position in Textron in the 4th quarter valued at about $68,000. Finally, Parallel Advisors LLC boosted 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 valued at $81,000 after purchasing an additional 208 shares in the last quarter. 86.03% of the stock is owned by institutional investors and hedge funds.

Textron Stock Performance

TXT stock traded up $0.97 during trading hours on Thursday, hitting $77.77. 1,425,583 shares of the stock were exchanged, compared to its average volume of 1,228,077. The company has a current ratio of 1.76, a quick ratio of 0.84 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $14.04 billion, a P/E ratio of 18.04, a P/E/G ratio of 1.18 and a beta of 1.16. The company has a 50-day simple moving average of $70.83 and a two-hundred day simple moving average of $74.44. Textron Inc. has a 12 month low of $57.70 and a 12 month high of $94.57.

Textron (NYSE:TXT - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The aerospace company reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.17 by $0.11. The company had revenue of $3.31 billion for the quarter, compared to analysts' expectations of $3.26 billion. Textron had a return on equity of 14.92% and a net margin of 6.01%. The business's quarterly revenue was up 5.5% compared to the same quarter last year. During the same period in the previous year, the business posted $1.20 earnings per share. On average, analysts forecast that Textron Inc. will post 6.12 earnings per share for the current fiscal year.

Textron Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Morgan Stanley reduced their price objective on shares of Textron from $82.00 to $71.00 and set an "equal weight" rating for the company in a research report on Friday, April 11th. Citigroup reduced their price objective on shares of Textron from $111.00 to $107.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. Jefferies Financial Group upped their price objective on shares of Textron from $85.00 to $95.00 and gave the company a "buy" rating in a research note on Thursday. TD Cowen raised shares of Textron to a "hold" rating in a research note on Monday, February 24th. Finally, UBS Group upped their price objective on shares of Textron from $62.00 to $63.00 and gave the company a "sell" rating in a research note on Monday, April 28th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $88.36.

About Textron

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.