Textron Inc. (NYSE:TXT) Shares Sold by Pacer Advisors Inc.

Pacer Advisors Inc. cut its holdings in Textron Inc. (NYSE:TXT - Free Report) by 36.4% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 10,530 shares of the aerospace company's stock after selling 6,025 shares during the period. Pacer Advisors Inc.'s holdings in Textron were worth $761,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Wellington Management Group LLP increased its stake in Textron by 50.2% in the fourth quarter. Wellington Management Group LLP now owns 603,171 shares of the aerospace company's stock valued at $46,137,000 after purchasing an additional 201,696 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its holdings 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 valued at $2,776,000 after buying an additional 9,082 shares during the period. Graham Capital Management L.P. increased its stake in shares of Textron by 166.8% during the 4th quarter. Graham Capital Management L.P. now owns 67,000 shares of the aerospace company's stock valued at $5,125,000 after acquiring an additional 41,888 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Textron by 12.3% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 89,780 shares of the aerospace company's stock worth $6,867,000 after acquiring an additional 9,807 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in Textron by 16.1% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 20,193 shares of the aerospace company's stock valued at $1,474,000 after purchasing an additional 2,803 shares during the period. 86.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TXT has been the topic of a number of research analyst reports. Jefferies Financial Group reiterated a "buy" rating and issued a $95.00 price target (up previously from $85.00) on shares of Textron in a report on Thursday, June 12th. Wall Street Zen downgraded Textron from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 26th. Citigroup dropped their price target on Textron from $111.00 to $107.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $85.00 price objective (down from $95.00) on shares of Textron in a research note on Tuesday, July 1st. Finally, UBS Group raised 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 research report on Monday. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Textron presently has an average rating of "Moderate Buy" and an average target price of $92.67.

Textron Trading Down 0.4%

TXT opened at $77.78 on Friday. The firm's 50 day moving average is $79.25 and its 200-day moving average is $74.76. Textron Inc. has a 52-week low of $57.70 and a 52-week high of $93.98. The company has a quick ratio of 0.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $13.86 billion, a P/E ratio of 17.60, a P/E/G ratio of 1.27 and a beta of 1.17.

Textron (NYSE:TXT - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The aerospace company reported $1.55 earnings per share 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 during the quarter, compared to analyst estimates of $3.64 billion. During the same period last year, the business earned $1.54 EPS. The business's revenue was up 5.4% on a year-over-year basis. Analysts expect that Textron Inc. will post 6.12 EPS for the current fiscal year.

Textron Dividend Announcement

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

Insiders Place Their Bets

In other Textron news, EVP Julie G. Duffy sold 28,543 shares of the company's stock in a transaction that occurred on Friday, July 25th. The stock was 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. 1.70% of the stock is currently owned by company insiders.

About Textron

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.

Want to see what other hedge funds are holding TXT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Textron Inc. (NYSE:TXT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.