Textron Inc. (NYSE:TXT) Shares Sold by Fmr LLC

FMR LLC trimmed its stake in shares of Textron Inc. (NYSE:TXT - Free Report) by 6.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,140,572 shares of the aerospace company's stock after selling 144,162 shares during the quarter. FMR LLC owned approximately 1.15% of Textron worth $189,612,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the business. Innealta Capital LLC bought a new position in shares of Textron during the second quarter valued at approximately $25,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Textron in the 2nd quarter valued at about $30,000. Oakworth Capital Inc. purchased a new position in Textron in the 2nd quarter worth approximately $31,000. Family Firm Inc. acquired a new stake in shares of Textron during the 2nd quarter worth approximately $40,000. Finally, Capital Performance Advisors LLP acquired a new position in shares of Textron in the third quarter worth $42,000. Hedge funds and other institutional investors own 86.03% of the company's stock.

Analyst Upgrades and Downgrades

TXT has been the subject of a number of research reports. Morgan Stanley cut shares of Textron from an "overweight" rating to an "equal weight" rating and set a $95.00 target price for the company. in a report on Thursday, August 8th. JPMorgan Chase & Co. cut their target price 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. TD Cowen lowered shares of Textron from a "buy" rating to a "hold" rating and decreased their price target for the company from $103.00 to $95.00 in a report on Wednesday, September 25th. StockNews.com lowered shares of Textron from a "strong-buy" rating to a "buy" rating in a research note on Thursday, September 12th. Finally, Robert W. Baird dropped their target price 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. 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 company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $101.56.

Textron Stock Down 0.2 %

TXT stock traded down $0.17 during midday trading on Tuesday, hitting $85.29. The stock had a trading volume of 192,857 shares, compared to its average volume of 1,078,745. The firm has a market cap of $15.82 billion, a price-to-earnings ratio of 18.67, a price-to-earnings-growth ratio of 1.54 and a beta of 1.25. 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 $75.70 and a 52-week high of $97.33. The business has a 50-day moving average of $85.70 and a two-hundred day moving average of $87.10.

Textron (NYSE:TXT - Get Free Report) last issued its quarterly earnings results on Thursday, October 24th. The aerospace company reported $1.40 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 the consensus estimate of $3.50 billion. During the same period in the prior year, the business posted $1.49 earnings per share. Textron's revenue was up 2.5% on a year-over-year basis. As a group, equities research analysts forecast that Textron Inc. will post 5.53 earnings per share for the current fiscal year.

Textron Dividend Announcement

The business also recently disclosed 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 is Friday, December 13th. This represents a $0.08 dividend on an annualized basis and a yield of 0.09%. Textron's payout ratio is 1.76%.

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.