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

Barington Capital Group L.P. trimmed its stake in shares of Textron Inc. (NYSE:TXT - Free Report) by 41.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 56,225 shares of the aerospace company's stock after selling 40,093 shares during the period. Textron comprises about 5.3% of Barington Capital Group L.P.'s portfolio, making the stock its 8th largest position. Barington Capital Group L.P.'s holdings in Textron were worth $4,980,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in TXT. Lazard Asset Management LLC raised its position in shares of Textron by 57.2% in the 1st quarter. Lazard Asset Management LLC now owns 695 shares of the aerospace company's stock valued at $66,000 after buying an additional 253 shares in the last quarter. B. Riley Wealth Advisors Inc. raised its holdings in Textron by 17.0% during the first quarter. B. Riley Wealth Advisors Inc. now owns 4,402 shares of the aerospace company's stock worth $422,000 after buying an additional 640 shares during the last quarter. Tidal Investments LLC raised its holdings in Textron by 57.0% during the first quarter. Tidal Investments LLC now owns 10,868 shares of the aerospace company's stock worth $1,043,000 after buying an additional 3,946 shares during the last quarter. Atria Investments Inc purchased a new stake in shares of Textron in the first quarter valued at about $1,204,000. Finally, Cetera Investment Advisers raised its holdings in shares of Textron by 579.5% in the first quarter. Cetera Investment Advisers now owns 50,684 shares of the aerospace company's stock valued at $4,862,000 after purchasing an additional 43,225 shares during the last quarter. 86.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. JPMorgan Chase & Co. cut their target price on shares of Textron from $100.00 to $95.00 and set a "neutral" rating for the company in a research report on Monday, October 14th. UBS Group decreased their price target on shares of Textron from $87.00 to $79.00 and set a "sell" rating on the stock in a research note on Friday, October 25th. TD Cowen cut shares of Textron from a "buy" rating to a "hold" rating and cut their target price for the stock from $103.00 to $95.00 in a report on Wednesday, September 25th. Robert W. Baird cut their price target 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, Morgan Stanley downgraded shares of Textron from an "overweight" rating to an "equal weight" rating and set a $95.00 target price on the stock. in a research report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $101.56.

Textron Stock Performance

Textron stock traded down $0.07 during midday trading on Monday, hitting $85.56. The stock had a trading volume of 454,624 shares, compared to its average volume of 1,080,568. 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 52-week low of $75.70 and a 52-week high of $97.33. The firm's fifty day moving average is $85.73 and its two-hundred day moving average is $87.11. The company has a market capitalization of $15.87 billion, a PE ratio of 18.82, a P/E/G ratio of 1.54 and a beta of 1.24.

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 analysts' consensus estimates of $1.49 by ($0.09). The business had revenue of $3.43 billion during the quarter, compared to analysts' expectations of $3.50 billion. Textron had a net margin of 6.30% and a return on equity of 16.02%. The company's revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period last year, the business posted $1.49 earnings per share. On average, research analysts forecast that Textron Inc. will post 5.53 EPS for the current year.

Textron Dividend Announcement

The company also recently disclosed 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 annualized dividend and a dividend yield of 0.09%. Textron's payout ratio is currently 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.