Textron Inc. (NYSE:TXT) Shares Sold by Riverhead Capital Management LLC

Riverhead Capital Management LLC lessened its holdings in shares of Textron Inc. (NYSE:TXT) by 35.6% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 114,040 shares of the aerospace company’s stock after selling 63,150 shares during the quarter. Riverhead Capital Management LLC’s holdings in Textron were worth $6,048,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Parallel Advisors LLC grew its position in Textron by 73.1% in the second quarter. Parallel Advisors LLC now owns 509 shares of the aerospace company’s stock valued at $27,000 after acquiring an additional 215 shares in the last quarter. NEXT Financial Group Inc acquired a new stake in Textron in the second quarter valued at approximately $32,000. Trust Co. of Vermont acquired a new stake in Textron in the second quarter valued at approximately $42,000. Rational Advisors LLC grew its position in Textron by 120.1% in the first quarter. Rational Advisors LLC now owns 929 shares of the aerospace company’s stock valued at $47,000 after acquiring an additional 507 shares in the last quarter. Finally, Twin Tree Management LP grew its position in Textron by 101.5% in the first quarter. Twin Tree Management LP now owns 1,035 shares of the aerospace company’s stock valued at $52,000 after acquiring an additional 68,135 shares in the last quarter. 84.11% of the stock is owned by hedge funds and other institutional investors.

Separately, ValuEngine downgraded shares of Textron from a “hold” rating to a “sell” rating in a research report on Thursday, August 15th. One analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $59.29.

NYSE:TXT traded up $0.17 during trading hours on Friday, hitting $46.46. The stock had a trading volume of 39,499 shares, compared to its average volume of 1,294,510. The company has a current ratio of 2.17, a quick ratio of 0.97 and a debt-to-equity ratio of 0.68. Textron Inc. has a 1-year low of $42.30 and a 1-year high of $72.87. The business has a 50 day simple moving average of $46.52 and a two-hundred day simple moving average of $50.26. The company has a market cap of $10.23 billion, a PE ratio of 13.90, a price-to-earnings-growth ratio of 1.19 and a beta of 1.77.

Textron (NYSE:TXT) last issued its quarterly earnings data on Wednesday, July 17th. The aerospace company reported $0.93 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.86 by $0.07. The company had revenue of $3.23 billion during the quarter, compared to the consensus estimate of $3.43 billion. Textron had a net margin of 9.07% and a return on equity of 15.55%. Textron’s revenue for the quarter was down 13.4% on a year-over-year basis. During the same quarter last year, the company earned $0.87 earnings per share. Research analysts expect that Textron Inc. will post 3.75 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be paid a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.17%. The ex-dividend date is Thursday, September 12th. Textron’s dividend payout ratio (DPR) is currently 2.40%.

Textron Company 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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