Capital World Investors Trims Holdings in Textron Inc. (NYSE:TXT)

Capital World Investors lowered its holdings in Textron Inc. (NYSE:TXT) by 95.5% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 35,000 shares of the aerospace company’s stock after selling 745,000 shares during the quarter. Capital World Investors’ holdings in Textron were worth $3,358,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Boston Partners boosted its holdings in Textron by 2.0% in the fourth quarter. Boston Partners now owns 7,016,363 shares of the aerospace company’s stock valued at $564,235,000 after acquiring an additional 139,927 shares in the last quarter. LSV Asset Management raised its stake in Textron by 6.9% in the first quarter. LSV Asset Management now owns 4,053,050 shares of the aerospace company’s stock worth $388,809,000 after buying an additional 260,003 shares in the last quarter. Charles Schwab Investment Management Inc. lifted 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 worth $136,085,000 after buying an additional 19,769 shares during the period. Brandes Investment Partners LP boosted its position in Textron by 49.3% during the 4th quarter. Brandes Investment Partners LP now owns 1,235,966 shares of the aerospace company’s stock valued at $99,396,000 after acquiring an additional 408,290 shares in the last quarter. Finally, TD Asset Management Inc grew its holdings in shares of Textron by 2.9% during the 1st quarter. TD Asset Management Inc now owns 1,053,948 shares of the aerospace company’s stock worth $101,105,000 after acquiring an additional 29,663 shares during the period. Hedge funds and other institutional investors own 86.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on TXT. UBS Group raised their target price on Textron from $84.00 to $87.00 and gave the company a “sell” rating in a research note on Friday, July 19th. Bank of America raised their price objective on Textron from $105.00 to $110.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. TD Cowen increased their price target on shares of Textron from $100.00 to $103.00 and gave the stock a “buy” rating in a research note on Friday, July 19th. 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 research report on Tuesday, April 16th. Finally, StockNews.com cut shares of Textron from a “strong-buy” rating to a “buy” rating in a report on Friday, April 26th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $101.63.

Insiders Place Their Bets

In other news, Director Kathleen M. Bader sold 11,870 shares of the company’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $87.91, for a total transaction of $1,043,491.70. Following the transaction, the director now directly owns 3,756 shares of the company’s stock, valued at $330,189.96. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 1.70% of the company’s stock.

Textron Stock Up 0.8 %

NYSE:TXT opened at $92.06 on Friday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.66 and a current ratio of 1.64. The firm has a market cap of $17.56 billion, a P/E ratio of 19.67, a P/E/G ratio of 1.46 and a beta of 1.25. Textron Inc. has a fifty-two week low of $72.37 and a fifty-two week high of $97.33. The firm has a 50-day simple moving average of $87.69 and a two-hundred day simple moving average of $88.33.

Textron (NYSE:TXT) last announced its quarterly earnings results on Thursday, July 18th. The aerospace company reported $1.54 earnings per share for the quarter, beating the consensus estimate of $1.48 by $0.06. The company had revenue of $3.53 billion during the quarter, compared to the consensus estimate of $3.56 billion. Textron had a net margin of 6.67% and a return on equity of 16.41%. The firm’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter last year, the firm earned $1.46 earnings per share. Analysts predict that Textron Inc. will post 6.26 earnings per share for the current fiscal year.

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.