Nisa Investment Advisors LLC Reduces Holdings in Textron Inc. (NYSE:TXT)

Nisa Investment Advisors LLC cut its stake in Textron Inc. (NYSE:TXT - Free Report) by 10.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 94,920 shares of the aerospace company's stock after selling 11,518 shares during the quarter. Nisa Investment Advisors LLC owned about 0.05% of Textron worth $6,860,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Syon Capital LLC boosted its holdings in Textron by 4.5% in the fourth 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 stake in shares of Textron by 6.3% during the fourth 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 last quarter. Farther Finance Advisors LLC grew its stake in shares of Textron by 10.3% during the fourth 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 last quarter. Exchange Traded Concepts LLC grew its stake in shares of Textron by 7.4% during the first quarter. Exchange Traded Concepts LLC now owns 2,869 shares of the aerospace company's stock worth $207,000 after acquiring an additional 197 shares during the last quarter. Finally, Parallel Advisors LLC grew its stake in shares of Textron by 22.9% during the first quarter. Parallel Advisors LLC now owns 1,115 shares of the aerospace company's stock worth $81,000 after acquiring an additional 208 shares during the last quarter. 86.03% of the stock is currently owned by hedge funds and other institutional investors.

Textron Price Performance

Shares of TXT stock traded down $0.21 during trading hours on Friday, hitting $85.02. 1,167,443 shares of the company's stock were exchanged, compared to its average volume of 1,274,470. 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 firm has a market cap of $15.35 billion, a P/E ratio of 19.28, a P/E/G ratio of 1.39 and a beta of 1.17. The firm has a 50 day moving average of $76.86 and a two-hundred day moving average of $74.16. 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 announced its earnings results on Thursday, April 24th. The aerospace company reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.17 by $0.11. The business had revenue of $3.31 billion during the quarter, compared to the consensus estimate of $3.26 billion. Textron had a return on equity of 14.77% and a net margin of 5.98%. The business's quarterly revenue was up 5.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.20 EPS. Sell-side analysts forecast that Textron Inc. will post 6.12 EPS for the current year.

Textron Dividend Announcement

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

Wall Street Analysts Forecast Growth

TXT has been the topic of a number of research analyst reports. Citigroup dropped their price target on Textron from $111.00 to $107.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th. UBS Group boosted their price target on Textron from $62.00 to $63.00 and gave the stock a "sell" rating in a research note on Monday, April 28th. Wall Street Zen lowered Textron from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 5th. Morgan Stanley decreased their target price on Textron from $82.00 to $71.00 and set an "equal weight" rating for the company in a report on Friday, April 11th. 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 analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $88.08.

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.