Victory Capital Management Inc. Has $493.95 Million Stake in Textron Inc. (NYSE:TXT)

Victory Capital Management Inc. cut its position in shares of Textron Inc. (NYSE:TXT) by 9.1% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 5,576,323 shares of the aerospace company’s stock after selling 558,955 shares during the quarter. Textron makes up about 0.5% of Victory Capital Management Inc.’s portfolio, making the stock its 26th largest holding. Victory Capital Management Inc.’s holdings in Textron were worth $493,951,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the company. Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Textron by 0.9% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 471,039 shares of the aerospace company’s stock valued at $41,725,000 after purchasing an additional 4,327 shares during the period. GSA Capital Partners LLP boosted its stake in Textron by 144.3% during the third quarter. GSA Capital Partners LLP now owns 13,862 shares of the aerospace company’s stock worth $1,228,000 after acquiring an additional 8,188 shares in the last quarter. Apollon Wealth Management LLC increased its stake in Textron by 4.9% in the third quarter. Apollon Wealth Management LLC now owns 2,655 shares of the aerospace company’s stock valued at $235,000 after purchasing an additional 125 shares in the last quarter. Versor Investments LP acquired a new position in shares of Textron during the third quarter valued at about $655,000. Finally, Venturi Wealth Management LLC boosted its position in shares of Textron by 69.5% during the 3rd quarter. Venturi Wealth Management LLC now owns 566 shares of the aerospace company’s stock worth $50,000 after purchasing an additional 232 shares in the last quarter. Institutional investors own 86.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on TXT. Citigroup upped their price target on Textron from $111.00 to $115.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. StockNews.com downgraded shares of Textron from a “strong-buy” rating to a “buy” rating in a research report on Thursday, September 12th. TD Cowen cut shares of Textron from a “buy” rating to a “hold” rating and reduced their price objective for the company from $103.00 to $95.00 in a report on Wednesday, September 25th. Robert W. Baird lowered their target price on shares of Textron from $109.00 to $100.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Finally, UBS Group cut their target price on Textron from $87.00 to $79.00 and set a “sell” rating on the stock in a research report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $101.56.

Textron Stock Performance

Shares of TXT traded down $0.96 during mid-day trading on Tuesday, hitting $87.14. The stock had a trading volume of 127,995 shares, compared to its average volume of 1,078,900. The business has a fifty day moving average price of $86.49 and a 200-day moving average price of $87.31. Textron Inc. has a 52 week low of $74.13 and a 52 week high of $97.33. The firm has a market cap of $16.17 billion, a P/E ratio of 19.36, a PEG ratio of 1.58 and a beta of 1.24. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.83 and a quick ratio of 0.82.

Textron (NYSE:TXT) last posted its quarterly earnings results on Thursday, October 24th. The aerospace company reported $1.40 EPS for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.09). Textron had a return on equity of 16.02% and a net margin of 6.30%. The company had revenue of $3.43 billion during the quarter, compared to the consensus estimate of $3.50 billion. During the same period in the previous year, the business earned $1.49 earnings per share. Textron’s revenue was up 2.5% on a year-over-year basis. On average, equities research analysts expect that Textron Inc. will post 5.52 EPS for the current year.

Textron Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 13th will be given a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.09%. The ex-dividend date is Friday, December 13th. Textron’s payout ratio is 1.76%.

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.