Charles Schwab Investment Management Inc. Sells 3,909 Shares of Textron Inc. (NYSE:TXT)

Charles Schwab Investment Management Inc. cut its stake in shares of Textron Inc. (NYSE:TXT) by 0.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,674,945 shares of the aerospace company’s stock after selling 3,909 shares during the period. Charles Schwab Investment Management Inc. owned 0.93% of Textron worth $121,015,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Banque Cantonale Vaudoise bought a new stake in shares of Textron during the first quarter valued at about $25,000. Harvest Fund Management Co. Ltd increased its position in shares of Textron by 100.0% during the first quarter. Harvest Fund Management Co. Ltd now owns 524 shares of the aerospace company’s stock valued at $39,000 after buying an additional 262 shares during the period. Optiver Holding B.V. bought a new stake in shares of Textron during the fourth quarter valued at about $56,000. Federated Hermes Inc. increased its position in shares of Textron by 48.8% in the first quarter. Federated Hermes Inc. now owns 802 shares of the aerospace company’s stock worth $58,000 after purchasing an additional 263 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB increased its position in shares of Textron by 123.3% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 842 shares of the aerospace company’s stock worth $61,000 after purchasing an additional 465 shares during the last quarter. 86.03% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

TXT has been the topic of several research analyst reports. The Goldman Sachs Group restated a “neutral” rating and issued a $85.00 price objective (down from $95.00) on shares of Textron in a research report on Tuesday, July 1st. Morgan Stanley upped their price objective on shares of Textron from $71.00 to $86.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 17th. Barclays upped their price objective on shares of Textron from $95.00 to $105.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 29th. Susquehanna upped their price objective on shares of Textron from $90.00 to $95.00 and gave the stock a “positive” rating in a research report on Friday, July 25th. Finally, Jefferies Financial Group restated a “buy” rating and issued a $95.00 price objective (up from $85.00) on shares of Textron in a research report on Thursday, June 12th. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $92.67.

Insider Buying and Selling at Textron

In other news, EVP Julie G. Duffy sold 28,543 shares of the stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $79.37, for a total transaction of $2,265,457.91. Following the completion of the sale, the executive vice president owned 37,624 shares of the company’s stock, valued at approximately $2,986,216.88. This represents a 43.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.70% of the company’s stock.

Textron Stock Up 0.7%

Shares of NYSE TXT opened at $77.58 on Tuesday. Textron Inc. has a one year low of $57.70 and a one year high of $91.48. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.84 and a quick ratio of 0.84. The firm’s 50 day simple moving average is $79.78 and its two-hundred day simple moving average is $74.65. The stock has a market capitalization of $13.83 billion, a P/E ratio of 17.55, a PEG ratio of 1.26 and a beta of 1.16.

Textron (NYSE:TXT) last released its quarterly earnings data on Thursday, July 24th. The aerospace company reported $1.55 earnings per share for the quarter, beating analysts’ consensus estimates of $1.45 by $0.10. The firm had revenue of $3.72 billion during the quarter, compared to analyst estimates of $3.64 billion. Textron had a return on equity of 14.26% and a net margin of 5.80%. The business’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.54 earnings per share. As a group, analysts expect that Textron Inc. will post 6.12 EPS for the current fiscal year.

Textron Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, September 12th will be paid a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date of this dividend is Friday, September 12th. Textron’s dividend 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.