Textron Inc. (NYSE:TXT) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC trimmed its holdings in shares of Textron Inc. (NYSE:TXT) by 5.4% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 25,923 shares of the aerospace company’s stock after selling 1,487 shares during the period. Mutual of America Capital Management LLC’s holdings in Textron were worth $2,085,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of Textron by 0.8% during the first quarter. Vanguard Group Inc. now owns 23,503,096 shares of the aerospace company’s stock worth $1,748,161,000 after purchasing an additional 177,502 shares in the last quarter. BlackRock Inc. increased its position in shares of Textron by 2.9% during the first quarter. BlackRock Inc. now owns 18,231,026 shares of the aerospace company’s stock worth $1,287,657,000 after purchasing an additional 519,468 shares in the last quarter. State Street Corp increased its position in shares of Textron by 0.5% during the first quarter. State Street Corp now owns 9,564,040 shares of the aerospace company’s stock worth $711,561,000 after purchasing an additional 47,344 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of Textron by 3.4% during the third quarter. Victory Capital Management Inc. now owns 6,756,439 shares of the aerospace company’s stock worth $527,948,000 after purchasing an additional 220,891 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Textron by 11.6% during the third quarter. JPMorgan Chase & Co. now owns 5,745,108 shares of the aerospace company’s stock worth $448,923,000 after purchasing an additional 596,214 shares in the last quarter. 86.03% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently commented on TXT. Bank of America upgraded Textron from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $85.00 to $105.00 in a research report on Friday, March 8th. The Goldman Sachs Group raised their target price on Textron from $103.00 to $120.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. StockNews.com raised Textron from a “buy” rating to a “strong-buy” rating in a research note on Thursday, January 25th. UBS Group raised their target price on Textron from $77.00 to $81.00 and gave the stock a “sell” rating in a research note on Friday, January 26th. Finally, Citigroup raised their target price on Textron from $104.00 to $111.00 and gave the stock a “buy” rating in a research note on Thursday, April 4th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $93.63.

Textron Stock Up 0.8 %

Shares of NYSE:TXT opened at $93.30 on Friday. The business has a 50-day moving average price of $91.65 and a 200 day moving average price of $83.42. The company has a current ratio of 1.92, a quick ratio of 1.03 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $17.95 billion, a price-to-earnings ratio of 20.42, a PEG ratio of 1.46 and a beta of 1.30. Textron Inc. has a 12-month low of $61.27 and a 12-month high of $97.33.

Textron (NYSE:TXT) last issued its quarterly earnings data on Wednesday, January 24th. The aerospace company reported $1.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.53 by $0.07. The firm had revenue of $3.89 billion during the quarter, compared to the consensus estimate of $3.97 billion. Textron had a return on equity of 16.05% and a net margin of 6.73%. The company’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period last year, the company earned $1.07 EPS. Sell-side analysts expect that Textron Inc. will post 6.27 EPS for the current year.

Textron Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were given a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.09%. The ex-dividend date was Thursday, March 14th. Textron’s payout ratio is 1.75%.

About Textron

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.