Principal Financial Group Inc. Has $14.87 Million Holdings in Textron Inc. (NYSE:TXT)

Principal Financial Group Inc. lessened its stake in Textron Inc. (NYSE:TXT) by 1.9% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 205,855 shares of the aerospace company’s stock after selling 3,906 shares during the quarter. Principal Financial Group Inc. owned about 0.11% of Textron worth $14,873,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Syon Capital LLC raised its stake in Textron by 4.5% during the fourth quarter. Syon Capital LLC now owns 3,538 shares of the aerospace company’s stock worth $271,000 after acquiring an additional 153 shares in the last quarter. Motley Fool Asset Management LLC raised its stake in Textron by 6.3% during the fourth quarter. Motley Fool Asset Management LLC now owns 2,732 shares of the aerospace company’s stock worth $209,000 after acquiring an additional 163 shares in the last quarter. Farther Finance Advisors LLC raised its stake in Textron by 10.3% during the fourth quarter. Farther Finance Advisors LLC now owns 1,881 shares of the aerospace company’s stock worth $144,000 after acquiring an additional 175 shares in the last quarter. Exchange Traded Concepts LLC raised its stake in Textron by 7.4% during the first quarter. Exchange Traded Concepts LLC now owns 2,869 shares of the aerospace company’s stock worth $207,000 after acquiring an additional 197 shares in the last quarter. Finally, Parallel Advisors LLC raised its stake in Textron by 22.9% during the first quarter. Parallel Advisors LLC now owns 1,115 shares of the aerospace company’s stock worth $81,000 after acquiring an additional 208 shares in the last quarter. Institutional investors and hedge funds own 86.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on TXT. Citigroup lowered their price objective on Textron from $111.00 to $107.00 and set a “buy” rating for the company in a research note on Thursday, April 10th. UBS Group upped their price objective on Textron from $62.00 to $63.00 and gave the company a “sell” rating in a research note on Monday, April 28th. Morgan Stanley lowered their price objective on Textron from $82.00 to $71.00 and set an “equal weight” rating for the company in a research note on Friday, April 11th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $95.00 price objective (up previously from $85.00) on shares of Textron in a research note on Thursday, June 12th. Finally, Wall Street Zen downgraded Textron from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 5th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Textron has an average rating of “Hold” and an average price target of $88.08.

Textron Stock Performance

Shares of TXT stock opened at $85.02 on Friday. The business’s 50 day simple moving average is $76.86 and its 200 day simple moving average is $74.16. Textron Inc. has a one year low of $57.70 and a one year high of $94.57. The stock has a market capitalization of $15.35 billion, a PE ratio of 19.28, a PEG ratio of 1.39 and a beta of 1.17. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.80 and a quick ratio of 0.83.

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

Textron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th were issued 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 Friday, June 13th. Textron’s payout ratio is 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.