Herbst Group LLC Sells 410 Shares of Textron Inc. (NYSE:TXT)

Herbst Group LLC lessened its holdings in Textron Inc. (NYSE:TXT) by 1.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,800 shares of the aerospace company’s stock after selling 410 shares during the quarter. Textron accounts for 1.5% of Herbst Group LLC’s investment portfolio, making the stock its 26th largest position. Herbst Group LLC’s holdings in Textron were worth $2,218,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in shares of Textron by 6.6% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 29,493 shares of the aerospace company’s stock worth $2,194,000 after acquiring an additional 1,826 shares during the period. Great West Life Assurance Co. Can grew its stake in shares of Textron by 0.9% during the 1st quarter. Great West Life Assurance Co. Can now owns 55,591 shares of the aerospace company’s stock worth $4,331,000 after acquiring an additional 500 shares during the period. Yousif Capital Management LLC grew its stake in shares of Textron by 0.7% during the 1st quarter. Yousif Capital Management LLC now owns 26,689 shares of the aerospace company’s stock worth $1,985,000 after acquiring an additional 175 shares during the period. Vanguard Group Inc. grew its stake in shares of Textron by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 23,503,096 shares of the aerospace company’s stock worth $1,748,161,000 after acquiring an additional 177,502 shares during the period. Finally, Covestor Ltd grew its stake in shares of Textron by 52.6% during the 1st quarter. Covestor Ltd now owns 1,506 shares of the aerospace company’s stock worth $112,000 after acquiring an additional 519 shares during the period. Institutional investors own 85.92% of the company’s stock.

Textron Price Performance

Shares of NYSE:TXT traded down $0.52 on Tuesday, hitting $75.61. The company’s stock had a trading volume of 153,994 shares, compared to its average volume of 1,309,812. The company has a 50-day simple moving average of $74.64 and a 200 day simple moving average of $69.59. Textron Inc. has a 1 year low of $58.03 and a 1 year high of $80.10. The company has a market capitalization of $14.98 billion, a PE ratio of 17.50, a PEG ratio of 1.23 and a beta of 1.49. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.87 and a quick ratio of 0.93.

Textron (NYSE:TXT) last announced its quarterly earnings data on Thursday, July 27th. The aerospace company reported $1.46 earnings per share for the quarter, beating analysts’ consensus estimates of $1.21 by $0.25. The company had revenue of $3.42 billion for the quarter, compared to analysts’ expectations of $3.42 billion. Textron had a return on equity of 13.83% and a net margin of 6.88%. Textron’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period last year, the firm posted $1.00 EPS. Sell-side analysts forecast that Textron Inc. will post 5.3 EPS for the current fiscal year.

Textron Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, October 1st. Investors of record on Friday, September 15th will be issued a dividend of $0.02 per share. The ex-dividend date is Thursday, September 14th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.11%. Textron’s dividend payout ratio is 1.84%.

Insider Activity at Textron

In related news, Director R Kerry Clark sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $75.33, for a total transaction of $376,650.00. Following the transaction, the director now directly owns 13,870 shares of the company’s stock, valued at approximately $1,044,827.10. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 1.70% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms have recently weighed in on TXT. Bank of America increased their price target on Textron from $76.00 to $85.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 15th. Vertical Research cut Textron from a “buy” rating to a “hold” rating and set a $70.00 price objective on the stock. in a report on Wednesday, May 24th. Citigroup increased their price objective on Textron from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Friday, July 28th. StockNews.com raised Textron from a “buy” rating to a “strong-buy” rating in a report on Wednesday, September 13th. Finally, Susquehanna increased their price objective on Textron from $83.00 to $89.00 and gave the stock a “positive” rating in a report on Friday, July 28th. Three investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $86.00.

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.