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 13F filing 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 period. Textron accounts for 1.9% of U S Global Investors Inc.'s portfolio, making the stock its 16th biggest 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 also recently made changes to their positions in the stock. SBI Securities Co. Ltd. purchased a new position in Textron during the fourth quarter valued at approximately $31,000. Optiver Holding B.V. purchased a new position in shares of Textron during the 4th quarter valued at $56,000. MassMutual Private Wealth & Trust FSB boosted its holdings in Textron by 123.3% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 842 shares of the aerospace company's stock worth $61,000 after buying an additional 465 shares during the period. Parallel Advisors LLC increased its stake in Textron by 22.9% in the 1st quarter. Parallel Advisors LLC now owns 1,115 shares of the aerospace company's stock worth $81,000 after buying an additional 208 shares in the last quarter. Finally, ORG Wealth Partners LLC bought a new stake in Textron during the first quarter valued at about $92,000. 86.03% of the stock is currently owned by institutional investors.

Textron Trading Up 0.8%

TXT traded up $0.68 during trading on Tuesday, reaching $80.97. The company had a trading volume of 1,491,289 shares, compared to its average volume of 1,259,690. 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 Inc. has a 52 week low of $57.70 and a 52 week high of $94.57. The stock has a market cap of $14.62 billion, a P/E ratio of 18.36, a PEG ratio of 1.31 and a beta of 1.16. The business has a 50 day simple moving average of $74.37 and a 200-day simple moving average of $73.80.

Textron (NYSE:TXT - Get Free Report) last released 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 net margin of 5.98% and a return on equity of 14.77%. The firm had revenue of $3.31 billion during the quarter, compared to analysts' expectations of $3.26 billion. During the same period in the previous year, the company earned $1.20 EPS. The firm's revenue for the quarter was up 5.5% compared to the same quarter last year. On average, equities analysts anticipate that Textron Inc. will post 6.12 EPS for the current fiscal year.

Textron Announces Dividend

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

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Citigroup decreased their target price on Textron from $111.00 to $107.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th. Morgan Stanley reduced their price objective on shares of Textron from $82.00 to $71.00 and set an "equal weight" rating on the stock in a research report on Friday, April 11th. The Goldman Sachs Group restated a "neutral" rating and set a $85.00 target price (down previously from $95.00) on shares of Textron in a research report on Tuesday. UBS Group raised their target price on shares of Textron from $62.00 to $63.00 and gave the company a "sell" rating in a research note on Monday, April 28th. Finally, 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 research note on Thursday, June 12th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Textron presently has an average rating of "Hold" and an average price target of $88.08.

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.