Textron Inc. (NYSE:TXT) Shares Sold by Garden State Investment Advisory Services LLC

Garden State Investment Advisory Services LLC lessened its holdings in shares of Textron Inc. (NYSE:TXT) by 36.5% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,120 shares of the aerospace company’s stock after selling 1,796 shares during the quarter. Garden State Investment Advisory Services LLC’s holdings in Textron were worth $268,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Boston Partners grew its position in shares of Textron by 1.4% during the first quarter. Boston Partners now owns 7,116,231 shares of the aerospace company’s stock worth $682,475,000 after buying an additional 99,868 shares in the last quarter. LSV Asset Management grew its holdings in Textron by 6.9% during the 1st quarter. LSV Asset Management now owns 4,053,050 shares of the aerospace company’s stock worth $388,809,000 after acquiring an additional 260,003 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Textron by 6.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,808,600 shares of the aerospace company’s stock worth $241,152,000 after purchasing an additional 160,923 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Textron by 0.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,398,779 shares of the aerospace company’s stock valued at $120,099,000 after purchasing an additional 6,175 shares in the last quarter. Finally, TD Asset Management Inc lifted its position in shares of Textron by 3.2% during the second quarter. TD Asset Management Inc now owns 1,087,342 shares of the aerospace company’s stock worth $93,359,000 after purchasing an additional 33,394 shares during the last quarter. 86.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on TXT shares. TD Cowen upped their price objective on Textron from $100.00 to $103.00 and gave the company a “buy” rating in a research note on Friday, July 19th. UBS Group upped their price target on Textron from $84.00 to $87.00 and gave the company a “sell” rating in a research report on Friday, July 19th. Citigroup lifted their price objective on shares of Textron from $111.00 to $115.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Bank of America increased their target price on shares of Textron from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Finally, Morgan Stanley lowered shares of 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. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Textron currently has an average rating of “Moderate Buy” and an average price target of $102.50.

Textron Stock Performance

Shares of TXT opened at $87.91 on Friday. The firm has a fifty day moving average of $88.80 and a 200-day moving average of $89.32. The company has a market cap of $16.76 billion, a price-to-earnings ratio of 18.78, a price-to-earnings-growth ratio of 1.40 and a beta of 1.23. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.81 and a current ratio of 1.79. Textron Inc. has a 1 year low of $74.13 and a 1 year high of $97.33.

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

Textron Dividend Announcement

The firm 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 dividend of $0.02 per share. 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 payout ratio is currently 1.71%.

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.