Mutual of America Capital Management LLC Has $2.06 Million Stock Position in Textron Inc. (NYSE:TXT)

Mutual of America Capital Management LLC trimmed its holdings in shares of Textron Inc. (NYSE:TXT) by 6.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 24,022 shares of the aerospace company’s stock after selling 1,648 shares during the period. Mutual of America Capital Management LLC’s holdings in Textron were worth $2,063,000 as of its most recent filing with the Securities and Exchange Commission.

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

Analysts Set New Price Targets

A number of brokerages have commented on TXT. UBS Group boosted their target price on Textron from $84.00 to $87.00 and gave the company a “sell” rating in a research note on Friday, July 19th. StockNews.com downgraded Textron from a “strong-buy” rating to a “buy” rating in a research note on Thursday, September 12th. Morgan Stanley downgraded Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 target price on the stock. in a research note on Thursday, August 8th. TD Cowen downgraded Textron from a “buy” rating to a “hold” rating and lowered their target price for the company from $103.00 to $95.00 in a research note on Wednesday. Finally, Bank of America boosted their target price on Textron from $105.00 to $110.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Textron presently has an average rating of “Hold” and an average target price of $101.50.

Textron Stock Performance

TXT opened at $85.49 on Thursday. The company has a market cap of $16.30 billion, a PE ratio of 18.27, a price-to-earnings-growth ratio of 1.38 and a beta of 1.23. The stock has a 50-day moving average of $88.44 and a 200-day moving average of $89.22. Textron Inc. has a 52-week low of $74.13 and a 52-week high of $97.33. 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 (NYSE:TXT) last announced its earnings results on Thursday, July 18th. The aerospace company reported $1.54 earnings per share for the quarter, beating the consensus estimate of $1.48 by $0.06. Textron had a return on equity of 16.41% and a net margin of 6.67%. The firm had revenue of $3.53 billion during the quarter, compared to the consensus estimate of $3.56 billion. During the same quarter in the prior year, the company earned $1.46 EPS. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. As a group, equities research analysts forecast that Textron Inc. will post 6.26 earnings per share for the current fiscal year.

Textron Announces Dividend

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

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.