Farther Finance Advisors LLC Sells 232 Shares of Textron Inc. (NYSE:TXT)

Farther Finance Advisors LLC reduced its holdings in Textron Inc. (NYSE:TXT) by 12.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,649 shares of the aerospace company’s stock after selling 232 shares during the period. Farther Finance Advisors LLC’s holdings in Textron were worth $119,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in TXT. Allworth Financial LP increased its position in Textron by 11.6% during the fourth quarter. Allworth Financial LP now owns 1,801 shares of the aerospace company’s stock worth $141,000 after acquiring an additional 187 shares during the period. CIBC Asset Management Inc grew its position in Textron by 3.9% in the 4th quarter. CIBC Asset Management Inc now owns 28,609 shares of the aerospace company’s stock worth $2,188,000 after purchasing an additional 1,081 shares during the last quarter. Paradigm Asset Management Co. LLC grew its position in Textron by 2.8% in the 4th quarter. Paradigm Asset Management Co. LLC now owns 11,200 shares of the aerospace company’s stock worth $857,000 after purchasing an additional 300 shares during the last quarter. Blackhawk Capital Partners LLC. increased its holdings in shares of Textron by 41.9% during the 4th quarter. Blackhawk Capital Partners LLC. now owns 3,263 shares of the aerospace company’s stock worth $250,000 after purchasing an additional 963 shares during the period. Finally, Bank of New York Mellon Corp raised its position in shares of Textron by 7.9% during the fourth quarter. Bank of New York Mellon Corp now owns 1,428,377 shares of the aerospace company’s stock valued at $109,257,000 after buying an additional 104,982 shares during the last quarter. 86.03% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on TXT shares. Morgan Stanley decreased their target price on Textron from $82.00 to $71.00 and set an “equal weight” rating on the stock in a research report on Friday, April 11th. UBS Group upped their price target on Textron from $62.00 to $63.00 and gave the company a “sell” rating in a report on Monday, April 28th. Jefferies Financial Group reissued a “buy” rating and set a $95.00 price objective (up previously from $85.00) on shares of Textron in a report on Thursday, June 12th. Citigroup lowered their price objective on Textron from $111.00 to $107.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. Finally, TD Cowen upgraded Textron to a “hold” rating in a research note on Monday, February 24th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $88.36.

Textron Stock Up 0.4%

TXT stock opened at $76.91 on Friday. The stock’s 50 day simple moving average is $72.69 and its 200 day simple moving average is $74.04. Textron Inc. has a fifty-two week low of $57.70 and a fifty-two week high of $94.57. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.83 and a current ratio of 1.80. The company has a market cap of $13.89 billion, a P/E ratio of 17.44, a price-to-earnings-growth ratio of 1.25 and a beta of 1.16.

Textron (NYSE:TXT) last posted its quarterly earnings results on Thursday, April 24th. The aerospace company reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.17 by $0.11. The company had revenue of $3.31 billion during the quarter, compared to analyst estimates of $3.26 billion. Textron had a net margin of 5.98% and a return on equity of 14.77%. The firm’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.20 earnings per share. On average, research analysts expect that Textron Inc. will post 6.12 earnings per share for the current fiscal year.

Textron Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be paid a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.10%. The ex-dividend date is Friday, June 13th. Textron’s dividend payout ratio is currently 1.81%.

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.