Geode Capital Management LLC reduced its position in shares of Textron Inc. (NYSE:TXT – Free Report) by 1.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,430,897 shares of the aerospace company’s stock after selling 65,626 shares during the quarter. Geode Capital Management LLC owned 2.39% of Textron worth $391,147,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently modified their holdings of the business. M&T Bank Corp increased its position in shares of Textron by 2.3% in the third quarter. M&T Bank Corp now owns 17,101 shares of the aerospace company’s stock valued at $1,514,000 after buying an additional 382 shares in the last quarter. Groupama Asset Managment acquired a new stake in Textron in the 3rd quarter valued at $742,000. Nomura Asset Management Co. Ltd. increased its holdings in Textron by 1.6% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 55,845 shares of the aerospace company’s stock worth $4,947,000 after acquiring an additional 871 shares in the last quarter. MML Investors Services LLC lifted its holdings in Textron by 18.4% during the third quarter. MML Investors Services LLC now owns 26,505 shares of the aerospace company’s stock valued at $2,348,000 after purchasing an additional 4,110 shares in the last quarter. Finally, National Bank of Canada FI grew its position in shares of Textron by 161.8% in the third quarter. National Bank of Canada FI now owns 145,174 shares of the aerospace company’s stock valued at $12,860,000 after purchasing an additional 89,724 shares during the period. Hedge funds and other institutional investors own 86.03% of the company’s stock.
Analyst Ratings Changes
A number of research analysts recently weighed in on the stock. JPMorgan Chase & Co. decreased their price target on shares of Textron from $100.00 to $95.00 and set a “neutral” rating on the stock in a research note on Monday, October 14th. StockNews.com lowered Textron from a “strong-buy” rating to a “buy” rating in a research note on Thursday, September 12th. Robert W. Baird reduced their price objective on Textron from $109.00 to $100.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. TD Cowen cut shares of Textron from a “buy” rating to a “hold” rating and lowered their target price for the stock from $103.00 to $95.00 in a research note on Wednesday, September 25th. Finally, UBS Group reduced their target price on shares of Textron from $87.00 to $79.00 and set a “sell” rating for the company 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 issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $101.56.
Textron Trading Down 0.2 %
Shares of TXT stock opened at $80.91 on Friday. The company has a current ratio of 1.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.46. Textron Inc. has a twelve month low of $76.98 and a twelve month high of $97.33. The company’s 50-day moving average price is $84.94 and its 200-day moving average price is $86.75. The stock has a market cap of $15.01 billion, a price-to-earnings ratio of 17.78, a PEG ratio of 1.48 and a beta of 1.25.
Textron (NYSE:TXT – Get Free Report) last posted its earnings results on Thursday, October 24th. The aerospace company reported $1.40 earnings per share for the quarter, missing the consensus estimate of $1.49 by ($0.09). The firm had revenue of $3.43 billion during the quarter, compared to analyst estimates of $3.50 billion. Textron had a net margin of 6.30% and a return on equity of 16.02%. The business’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.49 earnings per share. As a group, equities analysts predict that Textron Inc. will post 5.52 earnings per share for the current year.
Textron Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Friday, December 13th will be given a $0.02 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.08 dividend on an annualized basis and a yield of 0.10%. Textron’s dividend payout ratio is currently 1.76%.
Textron Company 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.
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