Textron Inc. (NYSE:TXT) Holdings Lowered by Victory Capital Management Inc.

Victory Capital Management Inc. reduced its position in Textron Inc. (NYSE:TXT) by 10.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,046,460 shares of the aerospace company’s stock after selling 709,979 shares during the period. Textron comprises approximately 0.5% of Victory Capital Management Inc.’s holdings, making the stock its 15th largest position. Victory Capital Management Inc. owned approximately 3.08% of Textron worth $486,256,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Lindbrook Capital LLC increased its holdings in Textron by 18.6% in the 4th quarter. Lindbrook Capital LLC now owns 777 shares of the aerospace company’s stock valued at $62,000 after buying an additional 122 shares during the period. Allworth Financial LP lifted its position in Textron by 12.0% during the 4th quarter. Allworth Financial LP now owns 1,283 shares of the aerospace company’s stock valued at $103,000 after purchasing an additional 137 shares during the period. Quent Capital LLC raised its position in shares of Textron by 29.2% in the 4th quarter. Quent Capital LLC now owns 633 shares of the aerospace company’s stock valued at $51,000 after acquiring an additional 143 shares during the period. Financial Advocates Investment Management increased its stake in Textron by 3.3% during the 3rd quarter. Financial Advocates Investment Management now owns 5,208 shares of the aerospace company’s stock worth $407,000 after purchasing an additional 168 shares in the last quarter. Finally, Greenleaf Trust increased its stake in Textron by 4.0% during the 3rd quarter. Greenleaf Trust now owns 4,401 shares of the aerospace company’s stock worth $344,000 after purchasing an additional 171 shares in the last quarter. 86.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on TXT shares. Bank of America raised Textron from a “neutral” rating to a “buy” rating and raised their price target for the company from $85.00 to $105.00 in a report on Friday, March 8th. Susquehanna lowered their price objective on Textron from $110.00 to $105.00 and set a “positive” rating for the company in a research note on Friday, April 26th. StockNews.com cut Textron from a “strong-buy” rating to a “buy” rating in a report on Friday, April 26th. The Goldman Sachs Group upped their target price on Textron from $103.00 to $120.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Finally, Citigroup increased their price target on Textron from $104.00 to $111.00 and gave the stock a “buy” rating in a report on Thursday, April 4th. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $95.63.

Textron Stock Performance

Shares of Textron stock traded up $0.34 during trading hours on Wednesday, hitting $84.93. 336,948 shares of the company’s stock traded hands, compared to its average volume of 1,218,581. Textron Inc. has a 12-month low of $61.27 and a 12-month high of $97.33. The stock has a market capitalization of $16.20 billion, a price-to-earnings ratio of 18.06, a PEG ratio of 1.36 and a beta of 1.30. The company has a fifty day simple moving average of $92.12 and a 200-day simple moving average of $84.03. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.81 and a quick ratio of 0.84.

Textron (NYSE:TXT) last announced its quarterly earnings data on Thursday, April 25th. The aerospace company reported $1.20 earnings per share for the quarter, missing the consensus estimate of $1.28 by ($0.08). Textron had a return on equity of 16.30% and a net margin of 6.75%. The firm had revenue of $3.14 billion during the quarter, compared to analysts’ expectations of $3.29 billion. During the same period last year, the business posted $1.05 EPS. The company’s revenue was up 3.7% compared to the same quarter last year. Equities research analysts anticipate that Textron Inc. will post 6.27 EPS for the current fiscal year.

Textron Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be paid a $0.02 dividend. The ex-dividend date is Friday, June 14th. This represents a $0.08 annualized dividend and a yield of 0.09%. Textron’s dividend payout ratio is currently 1.71%.

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.