MUFG Securities EMEA plc Sells 17,000 Shares of Textron Inc. (NYSE:TXT)

Key Points

• MUFG Securities EMEA plc reduced its holdings in Textron Inc. by 29.8%, selling 17,000 shares, now owning 40,000 shares worth approximately $2.89 million.
• Textron reported a net margin of 5.80% and earnings of $1.55 EPS, surpassing analyst estimates during its last quarterly earnings release.
• Multiple analysts have updated their ratings on Textron, with a current consensus rating of "Moderate Buy" and a price target averaging $92.67.

MUFG Securities EMEA plc cut its stake in Textron Inc. (NYSE:TXT - Free Report) by 29.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 40,000 shares of the aerospace company's stock after selling 17,000 shares during the period. MUFG Securities EMEA plc's holdings in Textron were worth $2,890,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Syon Capital LLC boosted its stake in Textron by 4.5% in the 4th quarter. Syon Capital LLC now owns 3,538 shares of the aerospace company's stock worth $271,000 after purchasing an additional 153 shares during the period. Exchange Traded Concepts LLC boosted its stake in Textron by 7.4% in the 1st quarter. Exchange Traded Concepts LLC now owns 2,869 shares of the aerospace company's stock worth $207,000 after purchasing an additional 197 shares during the period. Transce3nd LLC boosted its stake in Textron by 14.0% in the 1st quarter. Transce3nd LLC now owns 1,617 shares of the aerospace company's stock worth $116,000 after purchasing an additional 199 shares during the period. Parallel Advisors LLC boosted its stake in 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 purchasing an additional 208 shares during the period. Finally, Apollon Wealth Management LLC boosted its stake in Textron by 6.4% in the 1st quarter. Apollon Wealth Management LLC now owns 3,599 shares of the aerospace company's stock worth $260,000 after purchasing an additional 215 shares during the period. 86.03% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently weighed in on TXT shares. Morgan Stanley upped their target price on shares of Textron from $71.00 to $86.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 17th. The Goldman Sachs Group restated a "neutral" rating and set a $85.00 price objective (down from $95.00) on shares of Textron in a research note on Tuesday, July 1st. Wall Street Zen downgraded shares of Textron from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 26th. Jefferies Financial Group restated a "buy" rating and set a $95.00 price objective (up from $85.00) on shares of Textron in a research note on Thursday, June 12th. Finally, Susquehanna increased their price objective on shares of Textron from $90.00 to $95.00 and gave the stock a "positive" rating in a research note on Friday, July 25th. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $92.67.

Textron Stock Performance

NYSE:TXT traded down $0.35 during mid-day trading on Friday, hitting $77.03. The stock had a trading volume of 744,906 shares, compared to its average volume of 1,909,290. Textron Inc. has a twelve month low of $57.70 and a twelve month high of $91.48. The stock has a market cap of $13.73 billion, a price-to-earnings ratio of 17.43, a PEG ratio of 1.26 and a beta of 1.16. The company's 50 day simple moving average is $79.70 and its 200 day simple moving average is $74.64. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.84 and a current ratio of 1.84.

Textron (NYSE:TXT - Get Free Report) last issued its earnings results on Thursday, July 24th. The aerospace company reported $1.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.45 by $0.10. Textron had a net margin of 5.80% and a return on equity of 14.26%. The business had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.64 billion. During the same period last year, the business posted $1.54 EPS. Textron's revenue was up 5.4% on a year-over-year basis. On average, equities research analysts forecast that Textron Inc. will post 6.12 earnings per share for the current year.

Textron Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, September 12th will be issued a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.1%. The ex-dividend date of this dividend is Friday, September 12th. Textron's dividend payout ratio is currently 1.81%.

Insiders Place Their Bets

In other Textron news, EVP Julie G. Duffy sold 28,543 shares of the stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $79.37, for a total value of $2,265,457.91. Following the transaction, the executive vice president directly owned 37,624 shares of the company's stock, valued at $2,986,216.88. This represents a 43.14% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.70% of the stock is currently owned by corporate insiders.

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.