Elk River Wealth Management LLC Sells 3,611 Shares of Textron Inc. (NYSE:TXT)

Elk River Wealth Management LLC lessened its holdings in Textron Inc. (NYSE:TXT - Free Report) by 6.1% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 55,219 shares of the aerospace company's stock after selling 3,611 shares during the period. Elk River Wealth Management LLC's holdings in Textron were worth $3,991,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of TXT. Wellington Management Group LLP raised its position in shares of Textron by 50.2% during the 4th quarter. Wellington Management Group LLP now owns 603,171 shares of the aerospace company's stock valued at $46,137,000 after buying an additional 201,696 shares in the last quarter. Empowered Funds LLC increased its stake in Textron by 28.6% during the fourth quarter. Empowered Funds LLC now owns 20,132 shares of the aerospace company's stock worth $1,540,000 after acquiring an additional 4,480 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in 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 purchasing an additional 5,367 shares during the period. Todd Asset Management LLC lifted its stake in shares of Textron by 1.8% in the 4th quarter. Todd Asset Management LLC now owns 470,292 shares of the aerospace company's stock valued at $35,973,000 after purchasing an additional 8,198 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Textron by 8.6% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 302,603 shares of the aerospace company's stock worth $22,916,000 after purchasing an additional 24,053 shares during the period. Hedge funds and other institutional investors own 86.03% of the company's stock.

Analysts Set New Price Targets

Several research firms recently weighed in on TXT. TD Cowen upgraded Textron to a "hold" rating in a report on Monday, February 24th. UBS Group increased 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. Morgan Stanley lowered their target price on shares of Textron from $82.00 to $71.00 and set an "equal weight" rating for the company in a report on Friday, April 11th. Finally, Citigroup cut their price target on shares of Textron from $111.00 to $107.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $87.70.

Textron Trading Up 1.6%

Shares of TXT opened at $75.67 on Friday. The firm has a market capitalization of $13.66 billion, a price-to-earnings ratio of 17.56, a PEG ratio of 1.18 and a beta of 1.16. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.76 and a quick ratio of 0.84. Textron Inc. has a 1-year low of $57.70 and a 1-year high of $94.57. The company has a 50-day moving average of $70.20 and a 200 day moving average of $74.58.

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

Textron Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders 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 annualized dividend and a dividend yield of 0.11%. Textron's dividend payout ratio is currently 1.81%.

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.

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