Geode Capital Management LLC Sells 65,626 Shares of Textron Inc. (NYSE:TXT)

Geode Capital Management LLC decreased its position in Textron Inc. (NYSE:TXT - Free Report) by 1.5% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 4,430,897 shares of the aerospace company's stock after selling 65,626 shares during the period. Geode Capital Management LLC owned about 2.39% of Textron worth $391,147,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the company. Innealta Capital LLC bought a new stake in shares of Textron in the second quarter worth $25,000. True Wealth Design LLC bought a new stake in Textron during the 3rd quarter worth about $26,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Textron during the 2nd quarter worth about $30,000. Oakworth Capital Inc. acquired a new position in shares of Textron during the 2nd quarter worth about $31,000. Finally, Family Firm Inc. bought a new position in shares of Textron in the 2nd quarter valued at about $40,000. Institutional investors and hedge funds own 86.03% of the company's stock.

Textron Stock Performance

TXT traded down $0.15 on Friday, reaching $80.92. The company had a trading volume of 874,333 shares, compared to its average volume of 978,155. The stock has a market cap of $15.01 billion, a P/E ratio of 17.78, a P/E/G ratio of 1.46 and a beta of 1.25. 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 fifty-two week low of $76.98 and a fifty-two week high of $97.33. The company's fifty day moving average is $84.94 and its 200 day moving average is $86.74.

Textron (NYSE:TXT - Get Free Report) last posted its earnings results on Thursday, October 24th. The aerospace company reported $1.40 EPS 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%. Textron's revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.49 EPS. As a group, analysts predict that Textron Inc. will post 5.52 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. Stockholders of record on Friday, December 13th will be issued a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.10%. The ex-dividend date of this dividend is Friday, December 13th. Textron's dividend payout ratio is currently 1.76%.

Analyst Upgrades and Downgrades

TXT has been the subject of several recent research reports. Robert W. Baird reduced their price target on Textron from $109.00 to $100.00 and set an "outperform" rating for the company in a research report on Friday, October 25th. TD Cowen cut shares of Textron from a "buy" rating to a "hold" rating and decreased their target price for the company from $103.00 to $95.00 in a research note on Wednesday, September 25th. StockNews.com lowered shares of Textron from a "strong-buy" rating to a "buy" rating in a research report on Thursday, September 12th. JPMorgan Chase & Co. decreased their price objective 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. Finally, UBS Group dropped their target price on shares of Textron from $87.00 to $79.00 and set a "sell" rating on the stock in a report on Friday, October 25th. One equities research 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 has an average rating of "Moderate Buy" and an average target price of $101.56.

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.