Verity Asset Management Inc. Has $1.30 Million Stock Holdings in Textron Inc. (NYSE:TXT)

Verity Asset Management Inc. lessened its stake in shares of Textron Inc. (NYSE:TXT - Free Report) by 28.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 17,984 shares of the aerospace company's stock after selling 7,286 shares during the quarter. Verity Asset Management Inc.'s holdings in Textron were worth $1,299,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TXT. SBI Securities Co. Ltd. bought a new position in Textron during the 4th quarter valued at $31,000. Optiver Holding B.V. acquired a new stake in shares of Textron in the fourth quarter valued at $56,000. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Textron by 123.3% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 842 shares of the aerospace company's stock valued at $61,000 after buying an additional 465 shares during the period. Parallel Advisors LLC boosted its stake in Textron by 22.9% during the first quarter. Parallel Advisors LLC now owns 1,115 shares of the aerospace company's stock valued at $81,000 after buying an additional 208 shares in the last quarter. Finally, ORG Wealth Partners LLC acquired a new position in Textron during the first quarter worth about $92,000. Institutional investors own 86.03% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on TXT. Morgan Stanley cut their price target on shares of Textron from $82.00 to $71.00 and set an "equal weight" rating for the company in a report on Friday, April 11th. UBS Group boosted their target price on shares of Textron from $62.00 to $63.00 and gave the stock a "sell" rating in a report on Monday, April 28th. Jefferies Financial Group reissued a "buy" rating and set a $95.00 target price (up from $85.00) on shares of Textron in a research note on Thursday, June 12th. Finally, Citigroup decreased their price target on shares of Textron from $111.00 to $107.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $88.36.

Textron Stock Up 0.0%

Shares of TXT traded up $0.02 during mid-day trading on Monday, reaching $80.36. The company's stock had a trading volume of 1,245,730 shares, compared to its average volume of 1,258,762. The company has a market cap of $14.51 billion, a price-to-earnings ratio of 18.22, a price-to-earnings-growth ratio of 1.31 and a beta of 1.16. The business has a fifty day moving average of $74.05 and a 200 day moving average of $73.81. 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 1 year low of $57.70 and a 1 year high of $94.57.

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 for the quarter, beating the consensus estimate of $1.17 by $0.11. Textron had a return on equity of 14.77% and a net margin of 5.98%. The firm had revenue of $3.31 billion for the quarter, compared to analyst estimates of $3.26 billion. During the same period in the previous year, the firm earned $1.20 earnings per share. Textron's quarterly revenue was up 5.5% on a year-over-year basis. As a group, analysts forecast that Textron Inc. will post 6.12 earnings per share for the current fiscal year.

Textron Announces Dividend

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

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.