Profund Advisors LLC Sells 131 Shares of Textron Inc. (NYSE:TXT)

Profund Advisors LLC reduced its holdings in Textron Inc. (NYSE:TXT) by 4.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,992 shares of the aerospace company’s stock after selling 131 shares during the period. Profund Advisors LLC’s holdings in Textron were worth $257,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Innealta Capital LLC bought a new stake in shares of Textron during the second quarter valued at approximately $25,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Textron during the second quarter valued at approximately $30,000. Oakworth Capital Inc. bought a new stake in shares of Textron during the second quarter valued at approximately $31,000. Family Firm Inc. bought a new stake in Textron in the second quarter valued at $40,000. Finally, Jones Financial Companies Lllp grew its position in Textron by 200.0% in the fourth quarter. Jones Financial Companies Lllp now owns 507 shares of the aerospace company’s stock valued at $41,000 after acquiring an additional 338 shares during the period. 86.03% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on TXT shares. 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. Bank of America upped their price target on Textron from $105.00 to $110.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. StockNews.com cut Textron from a “strong-buy” rating to a “buy” rating in a research report on Thursday, September 12th. Citigroup boosted their price objective on Textron from $111.00 to $115.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Finally, Morgan Stanley lowered Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 price objective on the stock. in a research note on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $101.50.

Textron Trading Up 1.4 %

Shares of TXT opened at $87.75 on Friday. The company has a quick ratio of 0.81, a current ratio of 1.79 and a debt-to-equity ratio of 0.47. Textron Inc. has a 12-month low of $74.13 and a 12-month high of $97.33. The firm has a market capitalization of $16.44 billion, a PE ratio of 18.75, a price-to-earnings-growth ratio of 1.38 and a beta of 1.23. The stock’s fifty day simple moving average is $88.26 and its 200-day simple moving average is $89.15.

Textron (NYSE:TXT) last issued its quarterly earnings results on Thursday, July 18th. The aerospace company reported $1.54 earnings per share (EPS) 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 business had revenue of $3.53 billion for the quarter, compared to analyst estimates of $3.56 billion. During the same quarter in the prior year, the firm posted $1.46 earnings per share. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. As a group, research analysts predict that Textron Inc. will post 6.26 earnings per share for the current year.

Textron Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be issued a $0.02 dividend. The ex-dividend date is Friday, September 13th. This represents a $0.08 dividend on an annualized basis and a yield of 0.09%. Textron’s dividend payout ratio is presently 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.