Diversified Trust Co Trims Stock Position in Textron Inc. (NYSE:TXT)

Diversified Trust Co cut its holdings in shares of Textron Inc. (NYSE:TXTGet Rating) by 48.5% during the second quarter, Holdings Channel.com reports. The fund owned 6,622 shares of the aerospace company’s stock after selling 6,226 shares during the period. Diversified Trust Co’s holdings in Textron were worth $404,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the business. Kwmg LLC grew its position in shares of Textron by 1.9% during the 2nd quarter. Kwmg LLC now owns 83,132 shares of the aerospace company’s stock valued at $5,077,000 after acquiring an additional 1,536 shares during the period. State of Alaska Department of Revenue grew its position in shares of Textron by 0.7% during the 2nd quarter. State of Alaska Department of Revenue now owns 86,943 shares of the aerospace company’s stock valued at $5,308,000 after acquiring an additional 565 shares during the period. Moody National Bank Trust Division grew its position in shares of Textron by 21.8% during the 2nd quarter. Moody National Bank Trust Division now owns 12,603 shares of the aerospace company’s stock valued at $769,000 after acquiring an additional 2,256 shares during the period. GoalVest Advisory LLC grew its position in shares of Textron by 23,900.0% during the 2nd quarter. GoalVest Advisory LLC now owns 1,200 shares of the aerospace company’s stock valued at $71,000 after acquiring an additional 1,195 shares during the period. Finally, Neuberger Berman Group LLC grew its position in shares of Textron by 23.9% during the 1st quarter. Neuberger Berman Group LLC now owns 820,864 shares of the aerospace company’s stock valued at $61,068,000 after acquiring an additional 158,090 shares during the period. 87.80% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on TXT shares. Susquehanna Bancshares lowered their price objective on Textron from $90.00 to $84.00 and set a “positive” rating on the stock in a report on Friday, July 29th. Bank of America lowered their price objective on Textron from $74.00 to $70.00 and set a “neutral” rating on the stock in a report on Thursday, July 28th. StockNews.com upgraded Textron from a “buy” rating to a “strong-buy” rating in a report on Tuesday, September 13th. Sanford C. Bernstein initiated coverage on Textron in a report on Tuesday, September 13th. They set a “market perform” rating on the stock. Finally, Cfra boosted their target price on Textron to $73.00 in a report on Tuesday, August 9th. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $81.33.

Textron Stock Down 0.8 %

TXT stock opened at $61.07 on Friday. The firm has a market cap of $12.92 billion, a PE ratio of 16.82, a PEG ratio of 1.24 and a beta of 1.55. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.22 and a current ratio of 2.30. Textron Inc. has a one year low of $57.11 and a one year high of $79.45. The firm’s 50 day moving average price is $64.46 and its 200-day moving average price is $65.83.

Textron (NYSE:TXTGet Rating) last announced its earnings results on Thursday, July 28th. The aerospace company reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.12. The company had revenue of $3.15 billion for the quarter, compared to analyst estimates of $3.22 billion. Textron had a return on equity of 12.25% and a net margin of 6.43%. The firm’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.81 earnings per share. On average, equities research analysts anticipate that Textron Inc. will post 3.96 EPS for the current year.

Textron Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Saturday, October 1st. Shareholders of record on Friday, September 9th will be given a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.13%. The ex-dividend date is Thursday, September 8th. Textron’s payout ratio is 2.20%.

About Textron

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Textron Inc operates in the aircraft, defense, industrial, and finance businesses. The company's 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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Institutional Ownership by Quarter for Textron (NYSE:TXT)

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