Textron Inc. (NYSE:TXT) Shares Sold by Citizens Financial Group Inc. RI

Citizens Financial Group Inc. RI decreased its position in shares of Textron Inc. (NYSE:TXT) by 1.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 64,263 shares of the aerospace company’s stock after selling 1,064 shares during the period. Citizens Financial Group Inc. RI’s holdings in Textron were worth $5,693,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Empirical Finance LLC lifted its stake in shares of Textron by 1.7% in the third quarter. Empirical Finance LLC now owns 7,047 shares of the aerospace company’s stock valued at $624,000 after purchasing an additional 115 shares during the period. Davis Investment Partners LLC lifted its position in shares of Textron by 0.8% during the 3rd quarter. Davis Investment Partners LLC now owns 14,828 shares of the aerospace company’s stock valued at $1,290,000 after acquiring an additional 118 shares during the period. Apollon Wealth Management LLC boosted its stake in shares of Textron by 4.9% during the 3rd quarter. Apollon Wealth Management LLC now owns 2,655 shares of the aerospace company’s stock worth $235,000 after acquiring an additional 125 shares in the last quarter. Altman Advisors Inc. grew its holdings in shares of Textron by 0.6% in the 2nd quarter. Altman Advisors Inc. now owns 22,057 shares of the aerospace company’s stock worth $1,894,000 after acquiring an additional 129 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Textron by 0.8% in the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 18,148 shares of the aerospace company’s stock valued at $1,558,000 after purchasing an additional 146 shares in the last quarter. Hedge funds and other institutional investors own 86.03% of the company’s stock.

Textron Stock Up 2.6 %

TXT stock opened at $83.96 on Friday. The company has a 50 day moving average price of $86.07 and a two-hundred day moving average price of $87.22. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.82 and a current ratio of 1.83. The stock has a market capitalization of $15.58 billion, a P/E ratio of 18.45, a PEG ratio of 1.46 and a beta of 1.24. Textron Inc. has a one year low of $74.13 and a one year high of $97.33.

Textron (NYSE:TXT) last released its earnings results on Thursday, October 24th. The aerospace company reported $1.40 EPS for the quarter, missing the consensus estimate of $1.49 by ($0.09). Textron had a net margin of 6.30% and a return on equity of 16.02%. The business had revenue of $3.43 billion during the quarter, compared to analyst estimates of $3.50 billion. During the same quarter in the previous year, the company posted $1.49 earnings per share. The business’s revenue for the quarter was up 2.5% compared to the same quarter last year. As a group, sell-side analysts expect that Textron Inc. will post 5.53 EPS for the current year.

Textron Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 13th will be issued a $0.02 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.08 dividend on an annualized basis and a yield of 0.10%. Textron’s payout ratio is 1.76%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on TXT shares. UBS Group decreased 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. TD Cowen lowered shares of Textron from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $103.00 to $95.00 in a research report on Wednesday, September 25th. Robert W. Baird dropped their target price on shares of Textron from $109.00 to $100.00 and set an “outperform” rating for the company in a report on Friday, October 25th. StockNews.com downgraded shares of Textron from a “strong-buy” rating to a “buy” rating in a report on Thursday, September 12th. Finally, Morgan Stanley cut shares of Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 price objective for the company. in a research note on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $101.56.

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.