Capital World Investors Has $3.36 Million Stock Position in Textron Inc. (NYSE:TXT)

Capital World Investors cut its stake in shares of Textron Inc. (NYSE:TXT) by 95.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 35,000 shares of the aerospace company’s stock after selling 745,000 shares during the period. Capital World Investors’ holdings in Textron were worth $3,358,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. CVA Family Office LLC acquired a new stake in Textron in the fourth quarter worth $29,000. Morton Brown Family Wealth LLC acquired a new stake in Textron during the 4th quarter worth $40,000. Jones Financial Companies Lllp lifted its holdings in Textron by 200.0% during the fourth quarter. Jones Financial Companies Lllp now owns 507 shares of the aerospace company’s stock worth $41,000 after acquiring an additional 338 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its stake in Textron by 677.1% in the fourth 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 period. Finally, Spire Wealth Management increased its holdings 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 in the last quarter. Institutional investors own 86.03% of the company’s stock.

Textron Stock Performance

TXT opened at $92.06 on Friday. The business’s 50-day simple moving average is $87.69 and its 200 day simple moving average is $88.33. Textron Inc. has a 52-week low of $72.37 and a 52-week high of $97.33. 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 capitalization of $17.56 billion, a PE ratio of 19.67, a PEG ratio of 1.46 and a beta of 1.25.

Textron (NYSE:TXT) last announced its quarterly earnings data on Thursday, July 18th. The aerospace company reported $1.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.48 by $0.06. Textron had a return on equity of 16.41% and a net margin of 6.67%. The company had revenue of $3.53 billion for the quarter, compared to analysts’ expectations of $3.56 billion. During the same quarter in the prior year, the business posted $1.46 EPS. The business’s revenue was up 3.0% compared to the same quarter last year. As a group, sell-side analysts expect that Textron Inc. will post 6.26 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on TXT shares. Citigroup lifted their price objective on Textron from $111.00 to $115.00 and gave the company a “buy” rating in a report on Monday, July 22nd. UBS Group upped their price target on shares of Textron from $84.00 to $87.00 and gave the company a “sell” rating in a report on Friday, July 19th. TD Cowen raised their price objective on shares of Textron from $100.00 to $103.00 and gave the stock a “buy” rating in a report on Friday, July 19th. Susquehanna reduced 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. Finally, The Goldman Sachs Group lifted their price target on Textron from $103.00 to $120.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Textron currently has a consensus rating of “Moderate Buy” and a consensus target price of $101.63.

Insider Buying and Selling at Textron

In other news, Director Kathleen M. Bader sold 11,870 shares of the business’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 transaction, the director now directly owns 3,756 shares in the company, valued at approximately $330,189.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.70% of the company’s stock.

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.