Mutual of America Capital Management LLC Reduces Position in Textron Inc. (NYSE:TXT)

Mutual of America Capital Management LLC cut its position in shares of Textron Inc. (NYSE:TXT) by 4.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 21,202 shares of the aerospace company’s stock after selling 991 shares during the period. Mutual of America Capital Management LLC’s holdings in Textron were worth $1,532,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in TXT. Optiver Holding B.V. purchased a new stake in Textron in the 4th quarter valued at about $56,000. MassMutual Private Wealth & Trust FSB boosted its position in Textron by 123.3% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 842 shares of the aerospace company’s stock valued at $61,000 after buying an additional 465 shares during the period. Parallel Advisors LLC boosted its position in Textron by 22.9% in the 1st quarter. Parallel Advisors LLC now owns 1,115 shares of the aerospace company’s stock valued at $81,000 after buying an additional 208 shares during the period. ORG Wealth Partners LLC purchased a new stake in shares of Textron in the 1st quarter worth approximately $92,000. Finally, Transce3nd LLC purchased a new stake in shares of Textron in the 4th quarter worth approximately $108,000. 86.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TXT has been the subject of several research reports. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $85.00 price target (down previously from $95.00) on shares of Textron in a research report on Tuesday, July 1st. Citigroup lowered their price target on shares of Textron from $111.00 to $107.00 and set a “buy” rating for the company in a research report on Thursday, April 10th. Wall Street Zen raised shares of Textron from a “buy” rating to a “strong-buy” rating in a research report on Sunday, July 13th. Morgan Stanley upped their price target on shares of Textron from $71.00 to $86.00 and gave the stock an “equal weight” rating in a research report on Thursday. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $95.00 price target (up previously from $85.00) on shares of Textron in a research report on Thursday, June 12th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $89.33.

Textron Trading Down 0.5%

NYSE TXT opened at $84.95 on Monday. The company has a quick ratio of 0.83, a current ratio of 1.80 and a debt-to-equity ratio of 0.46. Textron Inc. has a 52 week low of $57.70 and a 52 week high of $93.98. The firm has a market cap of $15.34 billion, a PE ratio of 19.26, a price-to-earnings-growth ratio of 1.38 and a beta of 1.17. The company has a 50 day moving average price of $78.24 and a 200 day moving average price of $74.41.

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

Textron Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th were paid a dividend of $0.02 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $0.08 dividend on an annualized basis and a yield of 0.09%. 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.