Riverhead Capital Management LLC trimmed its holdings in Textron Inc. (NYSE:TXT) by 54.2% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 10,290 shares of the aerospace company’s stock after selling 12,190 shares during the quarter. Riverhead Capital Management LLC’s holdings in Textron were worth $678,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. United Capital Financial Advisers LLC increased its stake in shares of Textron by 10.2% in the first quarter. United Capital Financial Advisers LLC now owns 8,461 shares of the aerospace company’s stock worth $499,000 after buying an additional 786 shares during the period. LMR Partners LLP increased its stake in shares of Textron by 20.4% in the second quarter. LMR Partners LLP now owns 5,741 shares of the aerospace company’s stock worth $378,000 after buying an additional 973 shares during the period. Nomura Asset Management Co. Ltd. increased its stake in shares of Textron by 3.0% in the second quarter. Nomura Asset Management Co. Ltd. now owns 42,056 shares of the aerospace company’s stock worth $2,772,000 after buying an additional 1,234 shares during the period. Amalgamated Bank increased its stake in shares of Textron by 3.9% in the second quarter. Amalgamated Bank now owns 34,227 shares of the aerospace company’s stock worth $2,256,000 after buying an additional 1,270 shares during the period. Finally, ING Groep NV increased its stake in shares of Textron by 6.8% in the first quarter. ING Groep NV now owns 26,746 shares of the aerospace company’s stock worth $1,577,000 after buying an additional 1,700 shares during the period. Hedge funds and other institutional investors own 83.27% of the company’s stock.

Several research analysts recently commented on TXT shares. Zacks Investment Research raised shares of Textron from a “hold” rating to a “buy” rating and set a $74.00 target price on the stock in a research note on Monday, August 13th. Bank of America set a $78.00 target price on shares of Textron and gave the stock a “buy” rating in a research note on Wednesday, July 25th. JPMorgan Chase & Co. lifted their target price on shares of Textron from $74.00 to $77.00 and gave the stock a “$66.52” rating in a research note on Monday, July 23rd. Cowen reaffirmed a “$66.44” rating and issued a $73.00 target price on shares of Textron in a research note on Wednesday, July 18th. Finally, Citigroup lifted their target price on shares of Textron to $76.00 and gave the stock a “buy” rating in a research note on Thursday, July 19th. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Textron currently has a consensus rating of “Buy” and a consensus target price of $70.92.

In other news, Chairman Scott C. Donnelly sold 82,647 shares of the business’s stock in a transaction on Friday, July 27th. The shares were sold at an average price of $67.17, for a total transaction of $5,551,398.99. Following the sale, the chairman now owns 639,916 shares in the company, valued at approximately $42,983,157.72. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Julie G. Duffy sold 6,562 shares of the business’s stock in a transaction on Tuesday, July 31st. The shares were sold at an average price of $68.13, for a total transaction of $447,069.06. Following the sale, the vice president now owns 22,535 shares in the company, valued at approximately $1,535,309.55. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 134,209 shares of company stock worth $9,035,968. Company insiders own 1.20% of the company’s stock.

Shares of Textron stock opened at $69.61 on Friday. The company has a current ratio of 2.27, a quick ratio of 1.11 and a debt-to-equity ratio of 0.72. The firm has a market cap of $17.35 billion, a price-to-earnings ratio of 28.41, a P/E/G ratio of 1.85 and a beta of 1.40. Textron Inc. has a 12-month low of $48.45 and a 12-month high of $70.49.

Textron (NYSE:TXT) last issued its quarterly earnings data on Wednesday, July 18th. The aerospace company reported $0.87 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.17. The business had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $3.51 billion. Textron had a net margin of 3.21% and a return on equity of 13.93%. The company’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.60 EPS. analysts forecast that Textron Inc. will post 3.31 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 1st. Stockholders of record on Friday, September 14th will be issued a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.11%. The ex-dividend date is Thursday, September 13th. Textron’s dividend payout ratio (DPR) is presently 3.27%.

Textron Profile

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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