Swiss National Bank Trims Position in Textron Inc. (NYSE:TXT)

Swiss National Bank trimmed its holdings in Textron Inc. (NYSE:TXT) by 1.1% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 523,289 shares of the aerospace company’s stock after selling 6,000 shares during the period. Swiss National Bank owned 0.29% of Textron worth $37,808,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Northern Trust Corp raised its holdings in shares of Textron by 9.4% in the fourth quarter. Northern Trust Corp now owns 1,803,778 shares of the aerospace company’s stock valued at $137,971,000 after buying an additional 155,384 shares during the last quarter. Balyasny Asset Management L.P. raised its holdings in Textron by 6,785.9% during the fourth quarter. Balyasny Asset Management L.P. now owns 1,236,441 shares of the aerospace company’s stock worth $94,575,000 after purchasing an additional 1,218,485 shares in the last quarter. Mariner LLC lifted its position in Textron by 4.3% in the fourth quarter. Mariner LLC now owns 1,137,684 shares of the aerospace company’s stock valued at $87,022,000 after purchasing an additional 46,469 shares during the period. D. E. Shaw & Co. Inc. lifted its position in Textron by 97.9% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,031,144 shares of the aerospace company’s stock valued at $78,872,000 after purchasing an additional 510,085 shares during the period. Finally, Voloridge Investment Management LLC lifted its position in Textron by 35.0% in the fourth quarter. Voloridge Investment Management LLC now owns 980,374 shares of the aerospace company’s stock valued at $74,989,000 after purchasing an additional 254,379 shares during the period. 86.03% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Julie G. Duffy sold 28,543 shares of the business’s stock in a transaction on Friday, July 25th. The shares were sold at an average price of $79.37, for a total transaction of $2,265,457.91. Following the completion of the sale, the executive vice president directly owned 37,624 shares of the company’s stock, valued at $2,986,216.88. The trade was a 43.14% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.70% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on TXT shares. Jefferies Financial Group restated a “buy” rating and issued a $95.00 price objective (up previously from $85.00) on shares of Textron in a research report on Thursday, June 12th. Barclays raised their price objective on shares of Textron from $95.00 to $105.00 and gave the company an “overweight” rating in a research report on Tuesday, July 29th. The Goldman Sachs Group reiterated a “neutral” rating and set a $85.00 price target (down from $95.00) on shares of Textron in a research report on Tuesday, July 1st. Morgan Stanley lifted their price target on shares of Textron from $71.00 to $86.00 and gave the company an “equal weight” rating in a research report on Thursday, July 17th. Finally, UBS Group upgraded shares of Textron from a “sell” rating to a “neutral” rating and lifted their price target for the company from $73.00 to $88.00 in a research report on Monday, July 28th. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $92.67.

Textron Stock Up 0.7%

TXT stock opened at $77.58 on Tuesday. The stock has a market capitalization of $13.83 billion, a P/E ratio of 17.55, a PEG ratio of 1.26 and a beta of 1.16. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.84 and a current ratio of 1.84. Textron Inc. has a one year low of $57.70 and a one year high of $91.48. The company has a 50 day moving average price of $79.78 and a two-hundred day moving average price of $74.65.

Textron (NYSE:TXT) last released its earnings results on Thursday, July 24th. The aerospace company reported $1.55 EPS for the quarter, topping the consensus estimate of $1.45 by $0.10. The firm had revenue of $3.72 billion during the quarter, compared to analysts’ expectations of $3.64 billion. Textron had a net margin of 5.80% and a return on equity of 14.26%. Textron’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same period in the previous year, the company earned $1.54 EPS. As a group, sell-side analysts expect that Textron Inc. will post 6.12 EPS for the current year.

Textron Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, September 12th will be paid a dividend of $0.02 per share. The ex-dividend date of this dividend is Friday, September 12th. This represents a $0.08 annualized dividend and a dividend yield of 0.1%. Textron’s payout ratio is currently 1.81%.

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.