American Century Companies Inc. Decreases Stock Holdings in Textron Inc. (NYSE:TXT)

American Century Companies Inc. lessened its stake in shares of Textron Inc. (NYSE:TXT) by 24.9% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 266,233 shares of the aerospace company’s stock after selling 88,126 shares during the quarter. American Century Companies Inc.’s holdings in Textron were worth $22,859,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in TXT. Innealta Capital LLC purchased a new stake in Textron in the second quarter worth approximately $25,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Textron in the second quarter worth $30,000. Oakworth Capital Inc. purchased a new stake in Textron during the second quarter valued at $31,000. Family Firm Inc. purchased a new position in Textron in the second quarter worth about $40,000. Finally, Jones Financial Companies Lllp increased its position in shares of Textron by 200.0% during the 4th quarter. Jones Financial Companies Lllp now owns 507 shares of the aerospace company’s stock valued at $41,000 after purchasing an additional 338 shares during the last quarter. 86.03% of the stock is currently owned by institutional investors.

Textron Price Performance

Shares of Textron stock opened at $88.94 on Friday. The company has a quick ratio of 0.81, a current ratio of 1.79 and a debt-to-equity ratio of 0.47. Textron Inc. has a 52 week low of $74.13 and a 52 week high of $97.33. The stock’s 50-day simple moving average is $88.80 and its 200-day simple moving average is $89.33. The company has a market capitalization of $16.66 billion, a price-to-earnings ratio of 19.00, a PEG ratio of 1.40 and a beta of 1.23.

Textron (NYSE:TXT) last posted its quarterly earnings results on Thursday, July 18th. The aerospace company reported $1.54 EPS for the quarter, topping analysts’ consensus estimates of $1.48 by $0.06. Textron had a return on equity of 16.41% and a net margin of 6.67%. The company had revenue of $3.53 billion for the quarter, compared to analysts’ expectations of $3.56 billion. During the same period in the previous year, the firm earned $1.46 EPS. The firm’s revenue was up 3.0% compared to the same quarter last year. As a group, analysts expect that Textron Inc. will post 6.27 earnings per share for the current fiscal year.

Textron Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be paid a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.09%. The ex-dividend date is Friday, September 13th. Textron’s payout ratio is currently 1.71%.

Analysts Set New Price Targets

Several brokerages recently issued reports on TXT. TD Cowen boosted their target price on shares of Textron from $100.00 to $103.00 and gave the company a “buy” rating in a research report on Friday, July 19th. Citigroup upped their price objective on Textron from $111.00 to $115.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Bank of America raised their target price on Textron from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. StockNews.com lowered Textron from a “strong-buy” rating to a “buy” rating in a report on Thursday, September 12th. Finally, Morgan Stanley downgraded Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 price objective on the stock. in a research note on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $102.50.

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.