Harvest Fund Management Co. Ltd Sells 1,479 Shares of Textron Inc. (NYSE:TXT)

Harvest Fund Management Co. Ltd reduced its stake in shares of Textron Inc. (NYSE:TXT) by 49.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,524 shares of the aerospace company’s stock after selling 1,479 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Textron were worth $123,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. AE Wealth Management LLC lifted its position in Textron by 23.7% during the 3rd quarter. AE Wealth Management LLC now owns 13,114 shares of the aerospace company’s stock valued at $1,025,000 after purchasing an additional 2,515 shares during the period. Global Retirement Partners LLC raised its position in shares of Textron by 393.9% during the 3rd quarter. Global Retirement Partners LLC now owns 489 shares of the aerospace company’s stock valued at $37,000 after acquiring an additional 390 shares during the last quarter. Czech National Bank raised its position in shares of Textron by 45.0% during the 3rd quarter. Czech National Bank now owns 34,619 shares of the aerospace company’s stock valued at $2,705,000 after acquiring an additional 10,744 shares during the last quarter. Uncommon Cents Investing LLC bought a new position in shares of Textron in the 3rd quarter worth $276,000. Finally, Bfsg LLC acquired a new stake in shares of Textron during the third quarter worth $901,000. Institutional investors and hedge funds own 86.03% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on TXT shares. Citigroup raised their target price on Textron from $104.00 to $111.00 and gave the stock a “buy” rating in a report on Thursday, April 4th. Bank of America upgraded shares of Textron from a “neutral” rating to a “buy” rating and lifted their price target for the company from $85.00 to $105.00 in a research note on Friday, March 8th. UBS Group upped their price objective on Textron from $77.00 to $81.00 and gave the stock a “sell” rating in a research note on Friday, January 26th. StockNews.com raised shares of Textron from a “buy” rating to a “strong-buy” rating in a research note on Thursday, January 25th. Finally, The Goldman Sachs Group upped their price target on shares of Textron from $103.00 to $120.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. One analyst has rated the stock with a sell rating, two have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $93.63.

Textron Price Performance

Shares of NYSE TXT opened at $84.92 on Friday. The business’s 50 day moving average is $92.09 and its 200-day moving average is $83.81. The firm has a market cap of $16.34 billion, a P/E ratio of 18.58, a price-to-earnings-growth ratio of 1.48 and a beta of 1.30. Textron Inc. has a 1-year low of $61.27 and a 1-year high of $97.33. The company has a current ratio of 1.92, a quick ratio of 1.03 and a debt-to-equity ratio of 0.50.

Textron (NYSE:TXT) last posted its earnings results on Thursday, April 25th. The aerospace company reported $1.20 earnings per share for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.08). Textron had a return on equity of 16.05% and a net margin of 6.73%. The firm had revenue of $3.14 billion for the quarter, compared to analyst estimates of $3.29 billion. During the same period in the prior year, the business posted $1.05 EPS. The firm’s quarterly revenue was up 3.7% compared to the same quarter last year. Equities research analysts predict that Textron Inc. will post 6.27 earnings per share for the current year.

Textron Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be given a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.09%. The ex-dividend date is Friday, June 14th. Textron’s dividend payout ratio is currently 1.75%.

Textron Profile

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.