Textron Inc. (NYSE:TXT) Shares Sold by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. decreased its holdings in shares of Textron Inc. (NYSE:TXT - Free Report) by 44.4% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 18,506 shares of the aerospace company's stock after selling 14,783 shares during the period. Cornercap Investment Counsel Inc.'s holdings in Textron were worth $1,639,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of TXT. Innealta Capital LLC bought a new position in shares of Textron during the second quarter valued at about $25,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Textron in the 2nd quarter worth about $30,000. Oakworth Capital Inc. purchased a new position in shares of Textron in the 2nd quarter valued at approximately $31,000. Family Firm Inc. bought a new stake in Textron during the second quarter worth about $40,000. Finally, Capital Performance Advisors LLP bought a new position in Textron during the 3rd quarter valued at approximately $42,000. 86.03% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

TXT has been the subject of several analyst reports. Robert W. Baird reduced their price target on shares of Textron from $109.00 to $100.00 and set an "outperform" rating for the company in a research report on Friday, October 25th. StockNews.com cut Textron from a "strong-buy" rating to a "buy" rating in a research report on Thursday, September 12th. Citigroup increased their price target on Textron from $111.00 to $115.00 and gave the stock a "buy" rating in a research note on Monday, July 22nd. UBS Group reduced their price objective on shares of Textron from $87.00 to $79.00 and set a "sell" rating on the stock in a research report on Friday, October 25th. Finally, Morgan Stanley downgraded 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 analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Textron has an average rating of "Moderate Buy" and a consensus target price of $101.56.

Textron Stock Down 1.4 %

Textron stock traded down $1.19 during midday trading on Friday, reaching $84.91. The company's stock had a trading volume of 1,099,175 shares, compared to its average volume of 1,085,360. The stock's 50-day simple moving average is $86.41 and its 200-day simple moving average is $87.30. The stock has a market capitalization of $15.75 billion, a P/E ratio of 18.92, a PEG ratio of 1.58 and a beta of 1.24. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.83 and a quick ratio of 0.82. Textron Inc. has a 52-week low of $74.13 and a 52-week high of $97.33.

Textron (NYSE:TXT - Get Free Report) last posted 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 analysts' expectations of $3.50 billion. Textron had a net margin of 6.30% and a return on equity of 16.02%. The firm'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 posted $1.49 EPS. On average, sell-side analysts expect that Textron Inc. will post 5.52 EPS for the current year.

Textron Announces Dividend

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 $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.09%. The ex-dividend date is Friday, December 13th. Textron's dividend 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.