Raymond James & Associates Cuts Stock Holdings in Textron Inc. (NYSE:TXT)

Raymond James & Associates decreased its position in Textron Inc. (NYSE:TXT - Free Report) by 2.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 204,763 shares of the aerospace company's stock after selling 6,129 shares during the period. Raymond James & Associates owned approximately 0.11% of Textron worth $18,138,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Davis Investment Partners LLC lifted its position in shares of Textron by 0.8% during the 3rd quarter. Davis Investment Partners LLC now owns 14,828 shares of the aerospace company's stock valued at $1,290,000 after acquiring an additional 118 shares during the period. Altman Advisors Inc. lifted its stake in shares of Textron by 0.6% in the second quarter. Altman Advisors Inc. now owns 22,057 shares of the aerospace company's stock valued at $1,894,000 after buying an additional 129 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in shares of Textron by 0.8% during the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 18,148 shares of the aerospace company's stock valued at $1,558,000 after buying an additional 146 shares during the last quarter. Creative Planning grew its holdings in shares of Textron by 0.4% during the third quarter. Creative Planning now owns 37,304 shares of the aerospace company's stock valued at $3,304,000 after buying an additional 165 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. lifted its position in Textron by 4.4% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 4,116 shares of the aerospace company's stock valued at $353,000 after acquiring an additional 175 shares in the last quarter. 86.03% of the stock is currently owned by institutional investors and hedge funds.

Textron Stock Performance

NYSE TXT traded up $0.86 during trading on Friday, hitting $82.35. 1,626,188 shares of the company's stock traded hands, compared to its average volume of 1,077,218. The stock has a market capitalization of $15.43 billion, a price-to-earnings ratio of 17.45, a PEG ratio of 1.43 and a beta of 1.23. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.81 and a current ratio of 1.79. The business has a 50 day moving average of $87.70 and a 200-day moving average of $88.09. Textron Inc. has a 12-month low of $74.13 and a 12-month high of $97.33.

Textron (NYSE:TXT - Get Free Report) last released its quarterly earnings data on Thursday, October 24th. The aerospace company reported $1.40 EPS for the quarter, missing the consensus estimate of $1.46 by ($0.06). Textron had a return on equity of 16.41% and a net margin of 6.67%. The business had revenue of $3.43 billion during the quarter, compared to the consensus estimate of $3.50 billion. During the same period last year, the business posted $1.49 earnings per share. The firm's quarterly revenue was up 2.5% on a year-over-year basis. As a group, equities research analysts anticipate that Textron Inc. will post 6.1 earnings per share for the current fiscal year.

Textron Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders 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 yield of 0.10%. The ex-dividend date is Friday, December 13th. Textron's payout ratio is presently 1.69%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. TD Cowen cut Textron from a "buy" rating to a "hold" rating and cut their target price for the company from $103.00 to $95.00 in a research report on Wednesday, September 25th. JPMorgan Chase & Co. dropped their price target on shares of Textron from $100.00 to $95.00 and set a "neutral" rating on the stock in a research report on Monday, October 14th. Morgan Stanley downgraded shares of Textron from an "overweight" rating to an "equal weight" rating and set a $95.00 price objective for the company. in a research report on Thursday, August 8th. Bank of America lifted their target price on shares of Textron from $105.00 to $110.00 and gave the stock a "buy" rating in a research report on Tuesday, July 23rd. Finally, Citigroup increased their price target on Textron from $111.00 to $115.00 and gave the company a "buy" rating in a research report on Monday, July 22nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target 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.