Keeler Thomas Management LLC Sells 26,989 Shares of Textron Inc. (NYSE:TXT)

Key Points

• Keeler Thomas Management LLC reduced its stake in Textron Inc. by 48.4% during the first quarter, now owning 28,765 shares worth $2,078,000.
• Textron's recent earnings report revealed a profit of $1.55 per share, exceeding expectations and marking a 5.4% increase in revenue compared to the previous year.
• The company announced a quarterly dividend of $0.02 per share, reflecting an annualized dividend yield of 0.1% to be paid on October 1st.

Keeler Thomas Management LLC lessened its holdings in Textron Inc. (NYSE:TXT - Free Report) by 48.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,765 shares of the aerospace company's stock after selling 26,989 shares during the period. Keeler Thomas Management LLC's holdings in Textron were worth $2,078,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Banque Cantonale Vaudoise purchased a new stake in Textron in the 1st quarter valued at about $25,000. Harvest Fund Management Co. Ltd grew its holdings in shares of Textron by 100.0% in the first quarter. Harvest Fund Management Co. Ltd now owns 524 shares of the aerospace company's stock valued at $39,000 after acquiring an additional 262 shares in the last quarter. Optiver Holding B.V. purchased a new stake in shares of Textron during the fourth quarter valued at approximately $56,000. Federated Hermes Inc. lifted its holdings in Textron by 48.8% during the first quarter. Federated Hermes Inc. now owns 802 shares of the aerospace company's stock worth $58,000 after acquiring an additional 263 shares during the period. Finally, MassMutual Private Wealth & Trust FSB boosted its position in Textron by 123.3% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 842 shares of the aerospace company's stock worth $61,000 after purchasing an additional 465 shares during the last quarter. Institutional investors own 86.03% of the company's stock.

Textron Stock Performance

Shares of NYSE TXT traded down $0.35 during midday trading on Friday, hitting $77.03. The company's stock had a trading volume of 744,906 shares, compared to its average volume of 1,930,417. The firm has a market capitalization of $13.73 billion, a price-to-earnings ratio of 17.43, a P/E/G 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 stock has a fifty day moving average price of $79.70 and a 200 day moving average price of $74.69. Textron Inc. has a one year low of $57.70 and a one year high of $91.48.

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 analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $3.64 billion. During the same quarter in the previous year, the firm posted $1.54 EPS. The business's revenue for the quarter was up 5.4% compared to the same quarter last year. On average, research analysts forecast that Textron Inc. will post 6.12 EPS for the current fiscal year.

Textron Announces Dividend

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

Insider Buying and Selling

In other 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 sale, the executive vice president directly owned 37,624 shares of the company's stock, valued at approximately $2,986,216.88. This represents a 43.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.70% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on TXT shares. Morgan Stanley upped their price objective on Textron from $71.00 to $86.00 and gave the company an "equal weight" rating in a research note on Thursday, July 17th. Susquehanna increased their price target on shares of Textron from $90.00 to $95.00 and gave the company a "positive" rating in a research report on Friday, July 25th. Wall Street Zen downgraded shares of Textron from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 26th. Barclays boosted their target price on shares of Textron from $95.00 to $105.00 and gave the company an "overweight" rating in a research note on Tuesday, July 29th. Finally, Citigroup decreased their price target on shares of Textron from $111.00 to $107.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $92.67.

Textron 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.