Textron Inc. (NYSE:TXT) Shares Sold by Barington Capital Group L.P.

Barington Capital Group L.P. lowered its stake in Textron Inc. (NYSE:TXT) by 41.6% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 56,225 shares of the aerospace company’s stock after selling 40,093 shares during the period. Textron makes up 5.3% of Barington Capital Group L.P.’s portfolio, making the stock its 8th largest holding. Barington Capital Group L.P.’s holdings in Textron were worth $4,980,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Innealta Capital LLC acquired a new stake in shares of Textron during the second quarter worth $25,000. True Wealth Design LLC acquired a new stake in Textron in the 3rd quarter worth about $26,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Textron in the 2nd quarter worth about $30,000. Oakworth Capital Inc. bought a new stake in Textron in the 2nd quarter valued at about $31,000. Finally, Family Firm Inc. bought a new position in shares of Textron during the second quarter worth approximately $40,000. 86.03% of the stock is owned by institutional investors.

Textron Stock Performance

Shares of Textron stock opened at $85.63 on Monday. The business has a 50-day moving average price of $85.73 and a two-hundred day moving average price of $87.12. Textron Inc. has a 1-year low of $74.61 and a 1-year high of $97.33. The company has a current ratio of 1.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.46. The company has a market cap of $15.89 billion, a P/E ratio of 18.82, a PEG ratio of 1.54 and a beta of 1.24.

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 return on equity of 16.02% and a net margin of 6.30%. The business had revenue of $3.43 billion for the quarter, compared to analyst estimates of $3.50 billion. The company’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same period in the prior year, the business earned $1.49 EPS. As a group, analysts anticipate that Textron Inc. will post 5.53 EPS for the current year.

Textron Announces Dividend

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 given a dividend of $0.02 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.09%. Textron’s payout ratio is presently 1.76%.

Wall Street Analyst Weigh In

TXT has been the subject of several recent research reports. StockNews.com cut Textron from a “strong-buy” rating to a “buy” rating in a research note on Thursday, September 12th. Morgan Stanley downgraded Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 target price for the company. in a research report on Thursday, August 8th. JPMorgan Chase & Co. decreased their price target on Textron from $100.00 to $95.00 and set a “neutral” rating on the stock in a research report on Monday, October 14th. TD Cowen cut shares of Textron from a “buy” rating to a “hold” rating and cut their price objective for the stock from $103.00 to $95.00 in a research report on Wednesday, September 25th. Finally, Robert W. Baird reduced their price objective on shares of Textron from $109.00 to $100.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $101.56.

About Textron

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.