Textron Inc. (NYSE:TXT) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. cut its holdings in shares of Textron Inc. (NYSE:TXT) by 1.0% in the fourth quarter, HoldingsChannel reports. The firm owned 43,125 shares of the aerospace company’s stock after selling 447 shares during the period. PNC Financial Services Group Inc.’s holdings in Textron were worth $3,468,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Metis Global Partners LLC lifted its position in Textron by 12.8% during the third quarter. Metis Global Partners LLC now owns 10,189 shares of the aerospace company’s stock valued at $796,000 after purchasing an additional 1,158 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Textron by 1.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,692,173 shares of the aerospace company’s stock valued at $136,085,000 after buying an additional 19,769 shares in the last quarter. Deutsche Bank AG increased its holdings in Textron by 36.9% in the third quarter. Deutsche Bank AG now owns 542,193 shares of the aerospace company’s stock valued at $42,367,000 after buying an additional 146,055 shares in the last quarter. AustralianSuper Pty Ltd increased its holdings in Textron by 13.2% in the fourth quarter. AustralianSuper Pty Ltd now owns 98,773 shares of the aerospace company’s stock valued at $7,943,000 after buying an additional 11,510 shares in the last quarter. Finally, SG Americas Securities LLC increased its holdings in Textron by 269.1% in the fourth quarter. SG Americas Securities LLC now owns 20,896 shares of the aerospace company’s stock valued at $1,680,000 after buying an additional 15,235 shares in the last quarter. 86.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Textron

In related news, Director Kathleen M. Bader sold 11,870 shares of the company’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $87.91, for a total transaction of $1,043,491.70. Following the completion of the sale, the director now owns 3,756 shares of the company’s stock, valued at approximately $330,189.96. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.70% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on TXT shares. Citigroup lifted their price objective on shares of Textron from $104.00 to $111.00 and gave the company a “buy” rating in a report on Thursday, April 4th. The Goldman Sachs Group lifted their price objective on shares of Textron from $103.00 to $120.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Bank of America raised shares of Textron from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $85.00 to $105.00 in a report on Friday, March 8th. StockNews.com cut shares of Textron from a “strong-buy” rating to a “buy” rating in a report on Friday, April 26th. Finally, Susquehanna cut their target price on shares of Textron from $110.00 to $105.00 and set a “positive” rating for the company in a research note on Friday, April 26th. One analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $99.29.

Textron Stock Up 1.0 %

TXT stock opened at $88.63 on Friday. The stock has a market capitalization of $16.90 billion, a P/E ratio of 18.94, a P/E/G ratio of 1.41 and a beta of 1.32. The firm has a 50-day simple moving average of $91.49 and a 200-day simple moving average of $85.36. The company has a quick ratio of 0.84, a current ratio of 1.81 and a debt-to-equity ratio of 0.46. Textron Inc. has a 52 week low of $61.27 and a 52 week high of $97.33.

Textron (NYSE:TXT) last released its 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 company 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 earned $1.05 EPS. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. Equities analysts forecast that Textron Inc. will post 6.27 earnings per share for the current fiscal year.

Textron Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be paid a dividend of $0.02 per share. 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 is presently 1.71%.

Textron Company 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.