U S Global Investors Inc. Sells 58,293 Shares of Textron Inc. (NYSE:TXT)

U S Global Investors Inc. reduced its stake in shares of Textron Inc. (NYSE:TXT - Free Report) by 22.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 204,281 shares of the aerospace company's stock after selling 58,293 shares during the quarter. Textron comprises about 1.9% of U S Global Investors Inc.'s investment portfolio, making the stock its 16th largest holding. U S Global Investors Inc. owned 0.11% of Textron worth $14,759,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of TXT. Invesco Ltd. grew its stake in Textron by 17.8% during the 4th quarter. Invesco Ltd. now owns 7,733,335 shares of the aerospace company's stock valued at $591,523,000 after acquiring an additional 1,167,105 shares in the last quarter. Boston Partners grew its stake in shares of Textron by 4.7% in the 4th 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 in the last quarter. Geode Capital Management LLC grew its stake in shares of Textron by 3.7% in the 4th quarter. Geode Capital Management LLC now owns 4,595,861 shares of the aerospace company's stock valued at $350,619,000 after buying an additional 164,964 shares in the last quarter. Brandes Investment Partners LP grew its stake in shares of Textron by 19.4% in the 4th quarter. Brandes Investment Partners LP now owns 1,859,703 shares of the aerospace company's stock valued at $142,249,000 after buying an additional 302,712 shares in the last quarter. Finally, Northern Trust Corp grew its stake in shares of Textron by 9.4% in the 4th quarter. Northern Trust Corp now owns 1,803,778 shares of the aerospace company's stock valued at $137,971,000 after buying an additional 155,384 shares in the last quarter. 86.03% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on TXT shares. Citigroup lowered 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 reissued a "buy" rating and issued a $95.00 price target (up previously from $85.00) on shares of Textron in a research note on Thursday, June 12th. UBS Group boosted their price target on Textron from $62.00 to $63.00 and gave the company a "sell" rating in a research note on Monday, April 28th. Finally, Morgan Stanley reduced 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. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $88.36.

Textron Stock Performance

Shares of TXT stock traded up $0.08 during trading hours on Friday, reaching $80.34. 2,416,825 shares of the company's stock were exchanged, compared to its average volume of 1,258,815. Textron Inc. has a fifty-two week low of $57.70 and a fifty-two week high of $94.57. The stock has a market capitalization of $14.50 billion, a P/E ratio of 18.22, a P/E/G ratio of 1.31 and a beta of 1.16. The business has a fifty day moving average price of $74.05 and a 200-day moving average price of $73.86. The company has a quick ratio of 0.83, a current ratio of 1.80 and a debt-to-equity ratio of 0.46.

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

Textron Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be given a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.10%. The ex-dividend date of this dividend is Friday, June 13th. Textron's dividend payout ratio (DPR) is 1.81%.

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.