Xponance Inc. Reduces Holdings in Textron Inc. (NYSE:TXT)

Xponance Inc. lessened its stake in Textron Inc. (NYSE:TXT - Free Report) by 38.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,371 shares of the aerospace company's stock after selling 15,014 shares during the period. Xponance Inc.'s holdings in Textron were worth $1,761,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Proficio Capital Partners LLC acquired a new stake in shares of Textron in the 4th quarter valued at about $6,512,000. Farther Finance Advisors LLC increased its holdings in shares of Textron by 10.3% in the 4th quarter. Farther Finance Advisors LLC now owns 1,881 shares of the aerospace company's stock valued at $144,000 after acquiring an additional 175 shares during the period. Cibc World Markets Corp raised its position in Textron by 14.7% in the 4th quarter. Cibc World Markets Corp now owns 29,350 shares of the aerospace company's stock valued at $2,245,000 after purchasing an additional 3,763 shares during the last quarter. Advisors Asset Management Inc. grew its position in Textron by 9.2% during the 4th quarter. Advisors Asset Management Inc. now owns 27,711 shares of the aerospace company's stock worth $2,120,000 after purchasing an additional 2,338 shares during the last quarter. Finally, Boston Partners raised its holdings in shares of Textron by 4.7% in the fourth quarter. Boston Partners now owns 7,483,692 shares of the aerospace company's stock valued at $572,465,000 after buying an additional 333,127 shares during the last quarter. Hedge funds and other institutional investors own 86.03% of the company's stock.

Wall Street Analysts Forecast Growth

TXT has been the topic of several recent research reports. Wall Street Zen upgraded Textron from a "buy" rating to a "strong-buy" rating in a research report on Sunday. Morgan Stanley lifted their target price on Textron from $71.00 to $86.00 and gave the company an "equal weight" rating in a research note on Thursday. Citigroup cut 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. Jefferies Financial Group reiterated a "buy" rating and issued a $95.00 price objective (up from $85.00) on shares of Textron in a research report on Thursday, June 12th. Finally, UBS Group upped their price objective on shares of Textron from $62.00 to $63.00 and gave the stock a "sell" rating in a research report on Monday, April 28th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $89.33.

Textron Price Performance

TXT stock traded up $1.24 during trading on Thursday, reaching $85.38. 1,405,867 shares of the company were exchanged, compared to its average volume of 1,280,634. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.83 and a current ratio of 1.80. The stock's 50 day moving average price is $77.73 and its 200 day moving average price is $74.32. Textron Inc. has a 52-week low of $57.70 and a 52-week high of $94.57. The company has a market cap of $15.41 billion, a P/E ratio of 19.36, a PEG ratio of 1.37 and a beta of 1.17.

Textron (NYSE:TXT - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The aerospace company reported $1.28 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.17 by $0.11. The company had revenue of $3.31 billion during the quarter, compared to the consensus estimate of $3.26 billion. Textron had a net margin of 5.98% and a return on equity of 14.77%. The company's revenue for the quarter was up 5.5% on a year-over-year basis. During the same period last year, the firm earned $1.20 EPS. As a group, analysts predict that Textron Inc. will post 6.12 earnings per share for the current fiscal year.

Textron Announces Dividend

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

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.