Textron Inc. (NYSE:TXT) Shares Sold by Sky Investment Group LLC

Sky Investment Group LLC decreased its position in Textron Inc. (NYSE:TXT) by 4.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,050 shares of the aerospace company’s stock after selling 200 shares during the period. Sky Investment Group LLC’s holdings in Textron were worth $348,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TXT. Truvestments Capital LLC acquired a new stake in shares of Textron during the first quarter worth about $48,000. Jones Financial Companies Lllp lifted its stake in Textron by 200.0% during the 4th quarter. Jones Financial Companies Lllp now owns 507 shares of the aerospace company’s stock valued at $41,000 after acquiring an additional 338 shares during the period. Benjamin F. Edwards & Company Inc. boosted its holdings in shares of Textron by 677.1% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 544 shares of the aerospace company’s stock valued at $44,000 after acquiring an additional 474 shares during the last quarter. Spire Wealth Management increased its stake in shares of Textron by 90.3% in the fourth quarter. Spire Wealth Management now owns 588 shares of the aerospace company’s stock worth $46,000 after acquiring an additional 279 shares during the period. Finally, General Partner Inc. purchased a new position in shares of Textron during the first quarter worth $60,000. Institutional investors and hedge funds own 86.03% of the company’s stock.

Textron Price Performance

TXT traded down $0.21 during trading on Wednesday, hitting $85.99. The company’s stock had a trading volume of 566,146 shares, compared to its average volume of 1,117,372. The firm has a market capitalization of $16.11 billion, a price-to-earnings ratio of 18.37, a P/E/G ratio of 1.35 and a beta of 1.25. Textron Inc. has a twelve month low of $73.78 and a twelve month high of $97.33. The business’s fifty day simple moving average is $87.57 and its 200 day simple moving average is $88.98. The company has a current ratio of 1.79, a quick ratio of 0.81 and a debt-to-equity ratio of 0.47.

Textron (NYSE:TXT) last announced its earnings results on Thursday, July 18th. The aerospace company reported $1.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.48 by $0.06. The firm had revenue of $3.53 billion for the quarter, compared to analyst estimates of $3.56 billion. Textron had a return on equity of 16.41% and a net margin of 6.67%. The business’s revenue was up 3.0% on a year-over-year basis. During the same quarter last year, the firm posted $1.46 EPS. On average, equities research analysts forecast that Textron Inc. will post 6.27 EPS for the current fiscal year.

Textron Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be paid a dividend of $0.02 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.09%. Textron’s dividend payout ratio is currently 1.71%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. StockNews.com downgraded Textron from a “strong-buy” rating to a “buy” rating in a research report on Friday, April 26th. Bank of America raised their target price on Textron from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Morgan Stanley downgraded Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 price target for the company. in a report on Thursday, August 8th. UBS Group raised their price objective on shares of Textron from $84.00 to $87.00 and gave the stock a “sell” rating in a research note on Friday, July 19th. Finally, The Goldman Sachs Group lifted their target price on shares of Textron from $103.00 to $120.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $102.50.

Insider Buying and Selling

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

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.