Textron Inc. (NYSE:TXT) Shares Sold by Ferguson Wellman Capital Management Inc.

Ferguson Wellman Capital Management Inc. reduced its stake in shares of Textron Inc. (NYSE:TXT - Free Report) by 98.8% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,094 shares of the aerospace company's stock after selling 437,417 shares during the period. Ferguson Wellman Capital Management Inc.'s holdings in Textron were worth $368,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. V Square Quantitative Management LLC boosted its holdings in Textron by 5.7% during the fourth quarter. V Square Quantitative Management LLC now owns 2,611 shares of the aerospace company's stock worth $200,000 after buying an additional 141 shares in the last quarter. Syon Capital LLC boosted its stake in shares of Textron by 4.5% during the 4th quarter. Syon Capital LLC now owns 3,538 shares of the aerospace company's stock worth $271,000 after acquiring an additional 153 shares in the last quarter. Motley Fool Asset Management LLC grew its holdings in shares of Textron by 6.3% in the 4th quarter. Motley Fool Asset Management LLC now owns 2,732 shares of the aerospace company's stock worth $209,000 after acquiring an additional 163 shares during the period. Farther Finance Advisors LLC grew its holdings in shares of Textron by 10.3% in the 4th quarter. Farther Finance Advisors LLC now owns 1,881 shares of the aerospace company's stock worth $144,000 after acquiring an additional 175 shares during the period. Finally, Allworth Financial LP increased its stake in Textron by 11.6% in the 4th quarter. Allworth Financial LP now owns 1,801 shares of the aerospace company's stock valued at $141,000 after purchasing an additional 187 shares in the last quarter. 86.03% of the stock is owned by institutional investors and hedge funds.

Textron Trading Down 0.3%

Shares of NYSE:TXT traded down $0.27 during trading on Tuesday, reaching $76.97. The stock had a trading volume of 2,154,907 shares, compared to its average volume of 1,234,450. The company has a quick ratio of 0.83, a current ratio of 1.80 and a debt-to-equity ratio of 0.46. The stock has a market cap of $13.90 billion, a P/E ratio of 17.45, a PEG ratio of 1.26 and a beta of 1.16. The business has a fifty day moving average price of $72.03 and a 200-day moving average price of $74.15. Textron Inc. has a fifty-two week low of $57.70 and a fifty-two week high of $94.57.

Textron (NYSE:TXT - Get Free Report) last released its earnings results on Thursday, April 24th. The aerospace company reported $1.28 EPS for the quarter, topping the consensus estimate of $1.17 by $0.11. Textron had a net margin of 5.98% and a return on equity of 14.77%. The firm had revenue of $3.31 billion during the quarter, compared to analysts' expectations of $3.26 billion. During the same period in the previous year, the company earned $1.20 EPS. Textron's revenue for the quarter was up 5.5% on a year-over-year basis. As a group, analysts anticipate 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 paid a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.10%. The ex-dividend date is Friday, June 13th. Textron's payout ratio is 1.81%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. UBS Group boosted their target price on Textron from $62.00 to $63.00 and gave the stock a "sell" rating in a research report on Monday, April 28th. Jefferies Financial Group reiterated a "buy" rating and issued a $95.00 price objective (up from $85.00) on shares of Textron in a research report on Thursday, June 12th. Morgan Stanley dropped 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. Citigroup cut their target price on shares of Textron from $111.00 to $107.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. Finally, TD Cowen upgraded shares of Textron to a "hold" rating in a research report on Monday, February 24th. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Textron has a consensus rating of "Moderate Buy" and an average 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.