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Textron Inc. reported strong earnings despite major investors reducing their stakes.
Textron Inc., an aerospace and defense company, saw two major investors, Sigma Planning Corp and Mutual of America Capital Management LLC, reduce their stakes by 23.1% and 4.5% respectively in the first quarter.
Textron reported strong earnings of $1.28 per share, beating analysts' estimates.
The company operates in aircraft, defense, industrial, and finance sectors and has a market cap of $15.34 billion.
Despite reduced stakes, analysts maintain a "Moderate Buy" rating with a price target of $89.33.
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Textron Inc. reportó ganancias fuertes a pesar de que los principales inversores redujeron sus participaciones.