Wellington Management Group LLP Sells 29,603 Shares of Textron Inc. (NYSE:TXT)

Wellington Management Group LLP lowered its stake in shares of Textron Inc. (NYSE:TXT) by 74.1% during the 1st quarter, Holdings Channel.com reports. The fund owned 10,366 shares of the aerospace company’s stock after selling 29,603 shares during the quarter. Wellington Management Group LLP’s holdings in Textron were worth $277,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Parallel Advisors LLC grew its stake in shares of Textron by 218.6% in the first quarter. Parallel Advisors LLC now owns 1,131 shares of the aerospace company’s stock worth $30,000 after acquiring an additional 776 shares during the period. Signaturefd LLC boosted its holdings in Textron by 72.0% in the first quarter. Signaturefd LLC now owns 1,206 shares of the aerospace company’s stock worth $32,000 after purchasing an additional 505 shares during the last quarter. Oppenheimer Asset Management Inc. grew its position in Textron by 40.7% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 1,363 shares of the aerospace company’s stock worth $36,000 after purchasing an additional 394 shares during the period. Flagship Harbor Advisors LLC raised its stake in Textron by 2,286.2% during the 1st quarter. Flagship Harbor Advisors LLC now owns 1,384 shares of the aerospace company’s stock valued at $37,000 after buying an additional 1,326 shares during the last quarter. Finally, Bessemer Group Inc. lifted its holdings in shares of Textron by 44.4% during the 1st quarter. Bessemer Group Inc. now owns 1,464 shares of the aerospace company’s stock valued at $39,000 after buying an additional 450 shares during the period. Institutional investors and hedge funds own 82.82% of the company’s stock.

A number of research firms recently commented on TXT. JPMorgan Chase & Co. cut Textron from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $32.00 to $30.00 in a research report on Friday, May 1st. Barclays raised their price objective on shares of Textron from $26.00 to $37.00 and gave the stock an “equal weight” rating in a report on Tuesday, June 16th. Citigroup lowered shares of Textron from a “buy” rating to a “neutral” rating and cut their target price for the company from $60.00 to $30.00 in a research report on Monday, April 20th. Alembic Global Advisors downgraded shares of Textron from an “overweight” rating to a “neutral” rating and set a $33.00 price target on the stock. in a research report on Monday, April 13th. Finally, ValuEngine raised shares of Textron from a “sell” rating to a “hold” rating in a research report on Saturday, May 30th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company. Textron presently has a consensus rating of “Hold” and a consensus price target of $41.00.

Shares of TXT opened at $33.37 on Wednesday. The stock has a market capitalization of $7.59 billion, a price-to-earnings ratio of 11.24, a price-to-earnings-growth ratio of 7.98 and a beta of 1.66. Textron Inc. has a 1 year low of $20.26 and a 1 year high of $54.24. The business’s 50 day simple moving average is $31.50 and its 200-day simple moving average is $36.15. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.07 and a quick ratio of 1.10.

Textron (NYSE:TXT) last issued its quarterly earnings data on Thursday, April 30th. The aerospace company reported $0.35 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.46 by ($0.11). The firm had revenue of $2.78 billion for the quarter, compared to analysts’ expectations of $2.97 billion. Textron had a return on equity of 14.12% and a net margin of 5.16%. The firm’s revenue was down 10.7% on a year-over-year basis. During the same period last year, the company earned $0.76 earnings per share. On average, sell-side analysts expect that Textron Inc. will post 1.41 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Friday, June 12th will be given a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.24%. The ex-dividend date is Thursday, June 11th. Textron’s dividend payout ratio is currently 2.14%.

Textron Company Profile

Textron Inc operates in the aircraft, defense, industrial, and finance businesses worldwide. The company's Textron Aviation segment manufactures and sells business jets, turboprop and piston engine aircraft, and military trainer and defense aircraft; and commercial parts, as well as provides maintenance, inspection, and repair services.

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Institutional Ownership by Quarter for Textron (NYSE:TXT)

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