Natixis Advisors LLC Reduces Stock Holdings in Textron Inc. (NYSE:TXT)

Key Points

• Natixis Advisors LLC reduced its stake in Textron Inc. by 8.9%, holding approximately $14.33 million worth of shares after selling over 19,000 shares in the first quarter.
• Textron recently reported a quarterly EPS of $1.55, exceeding analysts' expectations, and a revenue of $3.72 billion, indicating a 5.4% increase compared to the same quarter last year.
• Institutional investors own 86.03% of Textron's stock, reflecting significant interest from large investment firms, with recent updates from brokerages raising price targets for the stock.

Natixis Advisors LLC lowered its position in Textron Inc. (NYSE:TXT - Free Report) by 8.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 198,295 shares of the aerospace company's stock after selling 19,253 shares during the quarter. Natixis Advisors LLC owned about 0.11% of Textron worth $14,327,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Wellington Management Group LLP increased its stake in Textron by 50.2% in the 4th quarter. Wellington Management Group LLP now owns 603,171 shares of the aerospace company's stock worth $46,137,000 after buying an additional 201,696 shares during the period. Cambridge Investment Research Advisors Inc. increased its stake in Textron by 31.0% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 38,424 shares of the aerospace company's stock worth $2,776,000 after buying an additional 9,082 shares during the period. Graham Capital Management L.P. increased its stake in Textron by 166.8% in the 4th quarter. Graham Capital Management L.P. now owns 67,000 shares of the aerospace company's stock worth $5,125,000 after buying an additional 41,888 shares during the period. Massachusetts Financial Services Co. MA increased its stake in Textron by 12.3% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 89,780 shares of the aerospace company's stock worth $6,867,000 after buying an additional 9,807 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in Textron by 16.1% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 20,193 shares of the aerospace company's stock worth $1,474,000 after buying an additional 2,803 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 commented on TXT. Morgan Stanley raised their price target 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. UBS Group upgraded shares of Textron from a "sell" rating to a "neutral" rating and increased their target price for the stock from $73.00 to $88.00 in a report on Monday, July 28th. Jefferies Financial Group reiterated a "buy" rating and set a $95.00 target price (up from $85.00) on shares of Textron in a report on Thursday, June 12th. Wall Street Zen cut shares of Textron from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 26th. Finally, Barclays increased their target price on shares of Textron from $95.00 to $105.00 and gave the stock an "overweight" rating in a report on Tuesday, July 29th. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $92.67.

Textron Stock Up 0.7%

Shares of NYSE:TXT traded up $0.54 during trading on Monday, reaching $77.77. The stock had a trading volume of 1,139,382 shares, compared to its average volume of 1,979,433. Textron Inc. has a one year low of $57.70 and a one year high of $91.48. The company has a market capitalization of $13.86 billion, a P/E ratio of 17.60, a PEG ratio of 1.26 and a beta of 1.16. The company has a current ratio of 1.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.45. The firm's 50-day simple moving average is $79.43 and its 200 day simple moving average is $74.69.

Textron (NYSE:TXT - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The aerospace company reported $1.55 EPS for the quarter, beating the consensus estimate of $1.45 by $0.10. The firm had revenue of $3.72 billion during the quarter, compared to analyst estimates of $3.64 billion. Textron had a net margin of 5.80% and a return on equity of 14.26%. Textron's revenue was up 5.4% on a year-over-year basis. During the same period last year, the firm posted $1.54 EPS. As a group, research analysts expect that Textron Inc. will post 6.12 EPS for the current fiscal year.

Textron Announces Dividend

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

Insider Activity at Textron

In related news, EVP Julie G. Duffy sold 28,543 shares of the stock in a transaction that occurred on 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 completion of the transaction, the executive vice president directly owned 37,624 shares of the company's stock, valued at $2,986,216.88. This trade represents a 43.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.70% of the stock is owned by 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.