Larson Financial Group LLC Reduces Stock Position in Textron Inc. (NYSE:TXT)

Larson Financial Group LLC reduced its holdings in shares of Textron Inc. (NYSE:TXT - Free Report) by 82.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 764 shares of the aerospace company's stock after selling 3,527 shares during the quarter. Larson Financial Group LLC's holdings in Textron were worth $55,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of TXT. Optiver Holding B.V. purchased a new stake in Textron in the 4th quarter worth approximately $56,000. MassMutual Private Wealth & Trust FSB increased its holdings in shares of Textron by 123.3% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 842 shares of the aerospace company's stock worth $61,000 after buying an additional 465 shares during the last quarter. Parallel Advisors LLC increased its holdings in shares of Textron by 22.9% in the 1st quarter. Parallel Advisors LLC now owns 1,115 shares of the aerospace company's stock worth $81,000 after buying an additional 208 shares during the last quarter. ORG Wealth Partners LLC bought a new position in shares of Textron in the 1st quarter worth $92,000. Finally, Transce3nd LLC bought a new position in shares of Textron in the 4th quarter worth $108,000. 86.03% of the stock is currently owned by hedge funds and other institutional investors.

Textron Trading Down 0.4%

NYSE:TXT opened at $84.65 on Tuesday. The company has a 50-day moving average price of $78.24 and a 200-day moving average price of $74.41. Textron Inc. has a 12 month low of $57.70 and a 12 month high of $93.98. The company has a current ratio of 1.80, a quick ratio of 0.83 and a debt-to-equity ratio of 0.46. The stock has a market cap of $15.28 billion, a price-to-earnings ratio of 19.20, a P/E/G ratio of 1.38 and a beta of 1.17.

Textron (NYSE:TXT - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The aerospace company reported $1.28 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.17 by $0.11. The company had revenue of $3.31 billion during the quarter, compared to analysts' expectations of $3.26 billion. Textron had a net margin of 5.98% and a return on equity of 14.77%. Textron's revenue was up 5.5% on a year-over-year basis. During the same period last year, the company posted $1.20 EPS. Equities analysts predict that Textron Inc. will post 6.12 EPS for the current year.

Textron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Friday, June 13th were issued a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.09%. The ex-dividend date was Friday, June 13th. Textron's payout ratio is 1.81%.

Analyst Ratings Changes

A number of equities analysts have recently commented on TXT shares. Morgan Stanley increased their price target on shares of Textron from $71.00 to $86.00 and gave the stock an "equal weight" rating in a report on Thursday, July 17th. Wall Street Zen raised shares of Textron from a "buy" rating to a "strong-buy" rating in a report on Sunday, July 13th. 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 report on Monday, April 28th. Citigroup reduced their target price 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. Finally, The Goldman Sachs Group reaffirmed a "neutral" rating and set a $85.00 target price (down previously from $95.00) on shares of Textron in a report on Tuesday, July 1st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $89.33.

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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