Ferguson Wellman Capital Management Inc. Sells 437,417 Shares of Textron Inc. (NYSE:TXT)

Ferguson Wellman Capital Management Inc. lowered its stake in Textron Inc. (NYSE:TXT - Free Report) by 98.8% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 5,094 shares of the aerospace company's stock after selling 437,417 shares during the quarter. Ferguson Wellman Capital Management Inc.'s holdings in Textron were worth $368,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in TXT. Invesco Ltd. raised its stake in shares of Textron by 17.8% in the 4th quarter. Invesco Ltd. now owns 7,733,335 shares of the aerospace company's stock valued at $591,523,000 after acquiring an additional 1,167,105 shares during the period. Boston Partners raised its position in Textron by 4.7% in the 4th quarter. Boston Partners now owns 7,483,692 shares of the aerospace company's stock valued at $572,465,000 after purchasing an additional 333,127 shares during the last quarter. Geode Capital Management LLC raised its position in Textron by 3.7% during the 4th quarter. Geode Capital Management LLC now owns 4,595,861 shares of the aerospace company's stock worth $350,619,000 after buying an additional 164,964 shares during the last quarter. Brandes Investment Partners LP raised its position in Textron by 19.4% during the 4th quarter. Brandes Investment Partners LP now owns 1,859,703 shares of the aerospace company's stock worth $142,249,000 after buying an additional 302,712 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in shares of Textron by 9.4% in the 4th quarter. Northern Trust Corp now owns 1,803,778 shares of the aerospace company's stock valued at $137,971,000 after purchasing an additional 155,384 shares in the last quarter. Institutional investors and hedge funds own 86.03% of the company's stock.

Textron Stock Performance

TXT stock traded down $0.48 during trading on Friday, reaching $77.32. 1,407,393 shares of the stock were exchanged, compared to its average volume of 1,231,387. Textron Inc. has a twelve month low of $57.70 and a twelve month high of $94.57. The company has a market capitalization of $13.96 billion, a P/E ratio of 17.94, a price-to-earnings-growth ratio of 1.18 and a beta of 1.16. The stock has a 50 day simple moving average of $71.50 and a 200-day simple moving average of $74.26. The company has a current ratio of 1.76, a quick ratio of 0.84 and a debt-to-equity ratio of 0.45.

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

Textron Announces Dividend

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

Analysts Set New Price Targets

Several equities analysts have weighed in on TXT shares. 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 report on Monday, April 28th. Jefferies Financial Group upped their price target on shares of Textron from $85.00 to $95.00 and gave the company a "buy" rating in a report on Thursday. TD Cowen upgraded shares of Textron to a "hold" rating in a research note on Monday, February 24th. Morgan Stanley lowered their price target 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. Finally, 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. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $88.36.

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.