Charles Schwab Investment Management Inc. Sells 18,585 Shares of Textron Inc. (NYSE:TXT)

Charles Schwab Investment Management Inc. decreased its position in shares of Textron Inc. (NYSE:TXT - Free Report) by 1.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 1,671,244 shares of the aerospace company's stock after selling 18,585 shares during the period. Charles Schwab Investment Management Inc. owned 0.90% of Textron worth $148,039,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Boston Partners grew its position in Textron by 1.4% in the first quarter. Boston Partners now owns 7,116,231 shares of the aerospace company's stock valued at $682,475,000 after acquiring an additional 99,868 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Textron by 6.1% during the second quarter. Dimensional Fund Advisors LP now owns 2,808,600 shares of the aerospace company's stock worth $241,152,000 after buying an additional 160,923 shares during the period. Brandes Investment Partners LP lifted its stake in shares of Textron by 20.0% in the 2nd quarter. Brandes Investment Partners LP now owns 1,549,551 shares of the aerospace company's stock worth $133,096,000 after acquiring an additional 258,778 shares during the period. AQR Capital Management LLC increased its position in shares of Textron by 18.9% during the 2nd quarter. AQR Capital Management LLC now owns 1,451,293 shares of the aerospace company's stock valued at $124,608,000 after purchasing an additional 231,173 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in Textron by 0.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,398,779 shares of the aerospace company's stock valued at $120,099,000 after acquiring an additional 6,175 shares during the last quarter. Institutional investors and hedge funds own 86.03% of the company's stock.

Textron Price Performance

TXT traded up $0.37 during midday trading on Monday, hitting $85.75. The stock had a trading volume of 1,107,092 shares, compared to its average volume of 1,085,562. The company has a market cap of $15.91 billion, a P/E ratio of 18.80, a price-to-earnings-growth ratio of 1.54 and a beta of 1.24. The business has a fifty day moving average of $86.02 and a 200 day moving average of $87.21. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.82 and a current ratio of 1.83. Textron Inc. has a 1 year low of $74.13 and a 1 year high of $97.33.

Textron (NYSE:TXT - Get Free Report) last released its quarterly 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 for the quarter, compared to the consensus estimate 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 quarter in the prior year, the firm earned $1.49 earnings per share. As a group, equities analysts forecast that Textron Inc. will post 5.53 earnings per share for the current fiscal year.

Textron Dividend Announcement

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

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. UBS Group cut their target price 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 lowered shares of Textron from a "buy" rating to a "hold" rating and lowered their price target for the company from $103.00 to $95.00 in a report on Wednesday, September 25th. Morgan Stanley lowered Textron from an "overweight" rating to an "equal weight" rating and set a $95.00 price objective on the stock. in a research note on Thursday, August 8th. StockNews.com downgraded shares of Textron from a "strong-buy" rating to a "buy" rating in a research note on Thursday, September 12th. Finally, Robert W. Baird lowered their price target on Textron from $109.00 to $100.00 and set an "outperform" rating for the company in a 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 given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target 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.