Schwab Charles Investment Management Inc. Has $60.40 Million Position in Textron (TXT)

Schwab Charles Investment Management Inc. lessened its position in shares of Textron (NYSE:TXT) by 3.4% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,024,268 shares of the aerospace company’s stock after selling 36,038 shares during the quarter. Schwab Charles Investment Management Inc.’s holdings in Textron were worth $60,402,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in TXT. Aperio Group LLC grew its position in shares of Textron by 0.8% in the fourth quarter. Aperio Group LLC now owns 112,996 shares of the aerospace company’s stock valued at $6,394,000 after purchasing an additional 911 shares during the period. Ladenburg Thalmann Financial Services Inc. grew its position in shares of Textron by 6.9% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 14,378 shares of the aerospace company’s stock valued at $813,000 after purchasing an additional 924 shares during the period. Keybank National Association OH grew its position in shares of Textron by 3.8% in the fourth quarter. Keybank National Association OH now owns 29,168 shares of the aerospace company’s stock valued at $1,651,000 after purchasing an additional 1,065 shares during the period. CIBC Asset Management Inc grew its position in shares of Textron by 4.3% in the fourth quarter. CIBC Asset Management Inc now owns 26,438 shares of the aerospace company’s stock valued at $1,496,000 after purchasing an additional 1,084 shares during the period. Finally, Penserra Capital Management LLC grew its position in shares of Textron by 18.6% in the fourth quarter. Penserra Capital Management LLC now owns 7,000 shares of the aerospace company’s stock valued at $396,000 after purchasing an additional 1,100 shares during the period. Institutional investors own 84.45% of the company’s stock.

Textron opened at $66.32 on Friday, Marketbeat.com reports. The company has a current ratio of 2.31, a quick ratio of 1.09 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $16.81 billion, a PE ratio of 27.07, a price-to-earnings-growth ratio of 1.84 and a beta of 1.39. Textron has a twelve month low of $45.00 and a twelve month high of $66.67.

Textron (NYSE:TXT) last posted its quarterly earnings results on Wednesday, April 18th. The aerospace company reported $0.72 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.26. The firm had revenue of $3.30 billion for the quarter, compared to the consensus estimate of $3.06 billion. Textron had a net margin of 2.74% and a return on equity of 12.65%. The company’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same period last year, the firm posted $0.46 earnings per share. research analysts anticipate that Textron will post 3.13 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Sunday, July 1st. Shareholders of record on Friday, June 15th will be paid a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.12%. The ex-dividend date of this dividend is Thursday, June 14th. Textron’s dividend payout ratio (DPR) is presently 3.27%.

In other Textron news, CEO Scott C. Donnelly sold 158,237 shares of Textron stock in a transaction dated Friday, April 27th. The shares were sold at an average price of $63.05, for a total transaction of $9,976,842.85. Following the transaction, the chief executive officer now directly owns 715,106 shares of the company’s stock, valued at $45,087,433.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Scott C. Donnelly sold 11,988 shares of Textron stock in a transaction dated Tuesday, May 1st. The stock was sold at an average price of $61.60, for a total transaction of $738,460.80. Following the transaction, the chief executive officer now directly owns 715,106 shares in the company, valued at $44,050,529.60. The disclosure for this sale can be found here. Insiders have sold 250,225 shares of company stock worth $15,754,504 over the last ninety days. 1.20% of the stock is owned by insiders.

TXT has been the topic of several research analyst reports. Cowen reiterated a “buy” rating and issued a $70.00 target price on shares of Textron in a research report on Thursday, February 1st. ValuEngine upgraded shares of Textron from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Morgan Stanley upgraded shares of Textron from an “underweight” rating to an “equal weight” rating and set a $47.00 target price on the stock in a research report on Thursday, February 1st. Robert W. Baird lifted their target price on shares of Textron from $68.00 to $72.00 and gave the company an “outperform” rating in a research report on Thursday, April 19th. Finally, Barclays started coverage on shares of Textron in a research note on Thursday, March 29th. They issued an “overweight” rating and a $70.00 price target on the stock. One research analyst has rated the stock with a sell rating, three have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Textron has a consensus rating of “Buy” and an average target price of $67.17.

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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