Johnson Investment Counsel Inc. Sells 600 Shares of Textron Inc. (NYSE:TXT)

Johnson Investment Counsel Inc. trimmed its position in Textron Inc. (NYSE:TXT) by 19.0% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 2,561 shares of the aerospace company’s stock after selling 600 shares during the period. Johnson Investment Counsel Inc.’s holdings in Textron were worth $220,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Innealta Capital LLC bought a new position in shares of Textron during the 2nd quarter valued at approximately $25,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Textron during the 2nd quarter valued at approximately $30,000. Oakworth Capital Inc. bought a new position in shares of Textron during the 2nd quarter valued at approximately $31,000. Family Firm Inc. bought a new position in shares of Textron during the 2nd quarter valued at approximately $40,000. Finally, Truvestments Capital LLC bought a new position in shares of Textron during the 1st quarter valued at approximately $48,000. 86.03% of the stock is owned by institutional investors.

Textron Stock Performance

NYSE TXT opened at $87.70 on Monday. Textron Inc. has a 1 year low of $74.13 and a 1 year high of $97.33. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.79 and a quick ratio of 0.81. The stock has a market capitalization of $16.43 billion, a PE ratio of 18.74, a P/E/G ratio of 1.38 and a beta of 1.23. The company’s 50 day simple moving average is $88.66 and its two-hundred day simple moving average is $89.35.

Textron (NYSE:TXT) last posted its earnings results on Thursday, July 18th. The aerospace company reported $1.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.48 by $0.06. Textron had a net margin of 6.67% and a return on equity of 16.41%. The business had revenue of $3.53 billion for the quarter, compared to analysts’ expectations of $3.56 billion. During the same period in the prior year, the company posted $1.46 EPS. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. Analysts predict that Textron Inc. will post 6.27 earnings per share for the current fiscal year.

Textron Announces Dividend

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

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. Citigroup increased their target price on shares of Textron from $111.00 to $115.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. UBS Group increased their target price on shares of Textron from $84.00 to $87.00 and gave the company a “sell” rating in a research report on Friday, July 19th. Bank of America upped their price target on shares of Textron from $105.00 to $110.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Morgan Stanley cut shares of Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 price target on the stock. in a research note on Thursday, August 8th. Finally, StockNews.com cut shares of Textron from a “strong-buy” rating to a “buy” rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $102.50.

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.