Federated Hermes Inc. Sells 8,022 Shares of Textron Inc. (NYSE:TXT)

Federated Hermes Inc. decreased its holdings in shares of Textron Inc. (NYSE:TXT) by 91.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 731 shares of the aerospace company’s stock after selling 8,022 shares during the period. Federated Hermes Inc.’s holdings in Textron were worth $59,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in TXT. Adage Capital Partners GP L.L.C. increased its position in shares of Textron by 93.7% during the third quarter. Adage Capital Partners GP L.L.C. now owns 1,474,191 shares of the aerospace company’s stock valued at $115,193,000 after acquiring an additional 713,169 shares in the last quarter. Swiss National Bank purchased a new position in shares of Textron during the 3rd quarter worth $50,696,000. JPMorgan Chase & Co. boosted its stake in shares of Textron by 11.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,745,108 shares of the aerospace company’s stock worth $448,923,000 after acquiring an additional 596,214 shares during the last quarter. International Assets Investment Management LLC purchased a new position in shares of Textron during the 4th quarter worth $394,347,000. Finally, Primecap Management Co. CA boosted its stake in shares of Textron by 9.7% during the 3rd quarter. Primecap Management Co. CA now owns 5,394,200 shares of the aerospace company’s stock worth $421,503,000 after acquiring an additional 477,720 shares during the last quarter. Institutional investors own 86.03% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Bank of America upgraded shares of Textron from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $85.00 to $105.00 in a research note on Friday, March 8th. The Goldman Sachs Group lifted their price target on shares of Textron from $103.00 to $120.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. StockNews.com downgraded shares of Textron from a “strong-buy” rating to a “buy” rating in a report on Friday, April 26th. Susquehanna reduced their price target on shares of Textron from $110.00 to $105.00 and set a “positive” rating on the stock in a report on Friday, April 26th. Finally, UBS Group lifted their price target on shares of Textron from $77.00 to $81.00 and gave the company a “sell” rating in a report on Friday, January 26th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $95.63.

Textron Price Performance

TXT stock opened at $86.90 on Tuesday. Textron Inc. has a 12 month low of $61.27 and a 12 month high of $97.33. The company has a current ratio of 1.81, a quick ratio of 0.84 and a debt-to-equity ratio of 0.46. The company has a 50-day moving average price of $92.10 and a 200 day moving average price of $84.16. The stock has a market cap of $16.57 billion, a PE ratio of 18.57, a P/E/G ratio of 1.35 and a beta of 1.32.

Textron (NYSE:TXT) last released its quarterly earnings results on Thursday, April 25th. The aerospace company reported $1.20 EPS for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.08). Textron had a return on equity of 16.30% and a net margin of 6.75%. The firm had revenue of $3.14 billion for the quarter, compared to analysts’ expectations of $3.29 billion. During the same period in the prior year, the firm posted $1.05 earnings per share. Textron’s revenue for the quarter was up 3.7% on a year-over-year basis. Equities research analysts anticipate that Textron Inc. will post 6.27 earnings per share for the current year.

Textron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be given a $0.02 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.08 annualized dividend and a yield of 0.09%. Textron’s dividend payout ratio (DPR) is 1.71%.

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.