Textron Inc. (NYSE:TXT) Shares Sold by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd lowered its position in shares of Textron Inc. (NYSE:TXT) by 49.3% in the fourth quarter, Holdings Channel.com reports. The fund owned 1,524 shares of the aerospace company’s stock after selling 1,479 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Textron were worth $123,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. CVA Family Office LLC purchased a new position in Textron in the 4th quarter worth approximately $29,000. Trust Co. of Vermont acquired a new position in shares of Textron during the 3rd quarter valued at about $37,000. Global Retirement Partners LLC boosted its position in shares of Textron by 393.9% during the 3rd quarter. Global Retirement Partners LLC now owns 489 shares of the aerospace company’s stock valued at $37,000 after acquiring an additional 390 shares during the last quarter. Morton Brown Family Wealth LLC purchased a new stake in shares of Textron in the fourth quarter valued at about $40,000. Finally, Provence Wealth Management Group acquired a new stake in Textron during the third quarter worth about $39,000. Hedge funds and other institutional investors own 86.03% of the company’s stock.

Textron Stock Performance

NYSE TXT opened at $84.92 on Friday. The company has a market cap of $16.34 billion, a P/E ratio of 18.58, a P/E/G ratio of 1.48 and a beta of 1.30. Textron Inc. has a 1-year low of $61.27 and a 1-year high of $97.33. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.92 and a quick ratio of 1.03. The stock has a 50-day moving average of $92.09 and a two-hundred day moving average of $83.81.

Textron (NYSE:TXT) last released its earnings results on Thursday, April 25th. The aerospace company reported $1.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.08). Textron had a return on equity of 16.05% and a net margin of 6.73%. The business had revenue of $3.14 billion for the quarter, compared to analyst estimates of $3.29 billion. During the same quarter last year, the company earned $1.05 earnings per share. Textron’s quarterly revenue was up 3.7% compared to the same quarter last year. As a group, analysts anticipate that Textron Inc. will post 6.27 EPS for the current year.

Textron Dividend Announcement

The business also recently announced 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 payout ratio is 1.75%.

Analysts Set New Price Targets

TXT has been the subject of several analyst reports. StockNews.com raised shares of Textron from a “buy” rating to a “strong-buy” rating in a research note on Thursday, January 25th. Bank of America upgraded Textron from a “neutral” rating to a “buy” rating and lifted their target price for the company from $85.00 to $105.00 in a research report on Friday, March 8th. The Goldman Sachs Group increased their price target on Textron from $103.00 to $120.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Citigroup boosted 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. Finally, UBS Group increased their target price on shares of Textron from $77.00 to $81.00 and gave the stock a “sell” rating in a research note on Friday, January 26th. One research analyst has rated the stock with a sell rating, two have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $93.63.

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.