Textron Inc. (NYSE:TXT) EVP Sells $2,265,457.91 in Stock

Key Points

• Textron Inc. EVP Julie G. Duffy sold 28,543 shares for approximately $2.27 million, resulting in a 43.14% reduction in her ownership stake.
• The company reported a quarterly earnings per share (EPS) of $1.55, exceeding estimates and showcasing a 5.4% year-over-year revenue increase.
• Wall Street analysts have raised their target prices for Textron shares, with the average target now at $92.67, indicating positive outlooks for the company.

Textron Inc. (NYSE:TXT - Get Free Report) EVP Julie G. Duffy sold 28,543 shares of the business's stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $79.37, for a total transaction of $2,265,457.91. Following the sale, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Textron Stock Down 0.5%

TXT traded down $0.36 during midday trading on Tuesday, hitting $78.20. 2,860,811 shares of the company's stock traded hands, compared to its average volume of 1,548,328. Textron Inc. has a one year low of $57.70 and a one year high of $93.98. The company has a market cap of $14.12 billion, a PE ratio of 17.69, a price-to-earnings-growth ratio of 1.29 and a beta of 1.17. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.84 and a quick ratio of 0.84. The stock's fifty day simple moving average is $79.03 and its 200-day simple moving average is $74.71.

Textron (NYSE:TXT - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The aerospace company reported $1.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.45 by $0.10. The business had revenue of $3.72 billion for the quarter, compared to the consensus estimate of $3.64 billion. Textron had a net margin of 5.80% and a return on equity of 14.26%. Textron's quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter last year, the company posted $1.54 earnings per share. As a group, equities analysts anticipate that Textron Inc. will post 6.12 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Susquehanna boosted their target price on shares of Textron from $90.00 to $95.00 and gave the company a "positive" rating in a report on Friday. Barclays boosted their target price on shares of Textron from $95.00 to $105.00 and gave the company an "overweight" rating in a report on Tuesday. UBS Group upgraded shares of Textron from a "sell" rating to a "neutral" rating and boosted their target price for the company from $73.00 to $88.00 in a report on Monday. Morgan Stanley upped their price objective on shares of Textron from $71.00 to $86.00 and gave the stock an "equal weight" rating in a report on Thursday, July 17th. Finally, Jefferies Financial Group reaffirmed 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. 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, the stock currently has an average rating of "Moderate Buy" and an average target price of $92.67.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Banque Cantonale Vaudoise acquired a new position in Textron during the 1st quarter worth approximately $25,000. Harvest Fund Management Co. Ltd raised its stake in Textron by 100.0% in the 1st quarter. Harvest Fund Management Co. Ltd now owns 524 shares of the aerospace company's stock valued at $39,000 after acquiring an additional 262 shares during the period. Zions Bancorporation National Association UT bought a new position in Textron during the 1st quarter worth $41,000. Optiver Holding B.V. bought a new position in Textron during the 4th quarter worth $56,000. Finally, Rosenberg Matthew Hamilton acquired a new stake in shares of Textron during the 2nd quarter worth $60,000. 86.03% of the stock is owned by institutional investors.

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.

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