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

Davis Investment Partners LLC reduced its position in Textron Inc. (NYSE:TXT - Free Report) by 34.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund 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 quarter.

Several other large investors have also modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Textron by 44.6% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,390 shares of the aerospace company's stock valued at $1,343,000 after acquiring an additional 5,367 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its stake in Textron by 0.9% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 475,420 shares of the aerospace company's stock valued at $36,365,000 after acquiring an additional 4,381 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in Textron by 2.4% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 19,026 shares of the aerospace company's stock worth $1,455,000 after buying an additional 449 shares during the last quarter. Apollon Wealth Management LLC grew its stake in shares of Textron by 27.5% during the fourth quarter. Apollon Wealth Management LLC now owns 3,384 shares of the aerospace company's stock valued at $259,000 after purchasing an additional 729 shares during the last quarter. Finally, Empowered Funds LLC boosted its stake in Textron by 28.6% in the fourth quarter. Empowered Funds LLC now owns 20,132 shares of the aerospace company's stock valued at $1,540,000 after acquiring an additional 4,480 shares during the last quarter. Institutional investors own 86.03% of the company's stock.

Textron Trading Down 0.6%

TXT traded down $0.48 during mid-day trading on Friday, reaching $77.32. The stock had a trading volume of 1,407,393 shares, compared to its average volume of 1,231,387. Textron Inc. has a 52 week low of $57.70 and a 52 week high of $94.57. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.84 and a current ratio of 1.76. The stock has a market capitalization of $13.96 billion, a P/E ratio of 17.94, a P/E/G ratio of 1.18 and a beta of 1.16. The firm's fifty day simple moving average is $71.50 and its two-hundred day simple moving average is $74.19.

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

Textron Dividend Announcement

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

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. UBS Group raised their target price 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. 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 report on Thursday, April 10th. Morgan Stanley lowered their price target on shares of Textron from $82.00 to $71.00 and set an "equal weight" rating on the stock in a research report on Friday, April 11th. 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. Finally, TD Cowen upgraded shares of Textron to a "hold" rating in a report on Monday, February 24th. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Textron has an average 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.