Bank of New York Mellon Corp decreased its holdings in Textron Inc. (NYSE:TXT) by 12.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 1,770,395 shares of the aerospace company’s stock after selling 246,955 shares during the period. Bank of New York Mellon Corp owned approximately 0.78% of Textron worth $47,217,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of TXT. Point72 Asset Management L.P. increased its stake in shares of Textron by 1,505.5% in the 4th quarter. Point72 Asset Management L.P. now owns 1,738,757 shares of the aerospace company’s stock valued at $77,549,000 after purchasing an additional 1,630,459 shares during the last quarter. Victory Capital Management Inc. increased its stake in shares of Textron by 15.0% in the 4th quarter. Victory Capital Management Inc. now owns 6,683,649 shares of the aerospace company’s stock valued at $298,090,000 after purchasing an additional 871,313 shares during the last quarter. Russell Investments Group Ltd. increased its stake in shares of Textron by 217.6% in the 4th quarter. Russell Investments Group Ltd. now owns 1,091,362 shares of the aerospace company’s stock valued at $48,667,000 after purchasing an additional 747,769 shares during the last quarter. FMR LLC increased its stake in shares of Textron by 193.1% in the 4th quarter. FMR LLC now owns 751,436 shares of the aerospace company’s stock valued at $33,514,000 after purchasing an additional 495,097 shares during the last quarter. Finally, AQR Capital Management LLC increased its stake in shares of Textron by 23.8% in the 4th quarter. AQR Capital Management LLC now owns 2,084,407 shares of the aerospace company’s stock valued at $92,902,000 after purchasing an additional 401,037 shares during the last quarter. Institutional investors own 83.14% of the company’s stock.

TXT has been the topic of a number of research reports. Barclays lowered Textron from an “overweight” rating to an “equal weight” rating and set a $26.00 price objective on the stock. in a research report on Friday, March 20th. ValuEngine lowered Textron from a “hold” rating to a “sell” rating in a research report on Thursday, April 2nd. Cowen restated a “buy” rating and set a $34.00 price objective (down previously from $53.00) on shares of Textron in a research report on Monday, April 20th. They noted that the move was a valuation call. Citigroup lowered Textron from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $60.00 to $30.00 in a research report on Monday, April 20th. Finally, JPMorgan Chase & Co. lowered Textron from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $32.00 to $30.00 in a research report on Friday, May 1st. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company. Textron currently has an average rating of “Hold” and a consensus target price of $39.90.

NYSE TXT opened at $26.95 on Friday. The business’s 50-day moving average price is $26.58 and its two-hundred day moving average price is $38.69. Textron Inc. has a 12 month low of $20.26 and a 12 month high of $54.24. The firm has a market capitalization of $6.20 billion, a PE ratio of 9.07, a price-to-earnings-growth ratio of 6.49 and a beta of 1.62. The company has a current ratio of 2.07, a quick ratio of 1.10 and a debt-to-equity ratio of 0.66.

Textron (NYSE:TXT) last released its quarterly earnings results on Thursday, April 30th. The aerospace company reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.11). Textron had a net margin of 5.16% and a return on equity of 14.12%. The company had revenue of $2.78 billion during the quarter, compared to the consensus estimate of $2.97 billion. During the same quarter last year, the firm posted $0.76 EPS. The company’s quarterly revenue was down 10.7% on a year-over-year basis. As a group, analysts forecast that Textron Inc. will post 1.49 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Friday, June 12th will be given a $0.02 dividend. The ex-dividend date is Thursday, June 11th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.30%. Textron’s dividend payout ratio (DPR) is presently 2.14%.

About Textron

Textron Inc operates in the aircraft, defense, industrial, and finance businesses worldwide. The company's Textron Aviation segment manufactures and sells business jets, turboprop and piston engine aircraft, and military trainer and defense aircraft; and commercial parts, as well as provides maintenance, inspection, and repair services.

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Institutional Ownership by Quarter for Textron (NYSE:TXT)

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