Allspring Global Investments Holdings LLC Lowers Stock Holdings in Textron Inc. (NYSE:TXT)

Allspring Global Investments Holdings LLC reduced its holdings in Textron Inc. (NYSE:TXT - Free Report) by 42.6% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 64,288 shares of the aerospace company's stock after selling 47,725 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Textron were worth $5,695,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Textron by 7.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 17,907 shares of the aerospace company's stock valued at $1,718,000 after buying an additional 1,316 shares in the last quarter. Hennion & Walsh Asset Management Inc. purchased a new position in shares of Textron in the first quarter worth about $491,000. Norden Group LLC bought a new stake in Textron during the 1st quarter worth approximately $220,000. First Trust Direct Indexing L.P. bought a new stake in Textron during the 1st quarter worth approximately $200,000. Finally, Uncommon Cents Investing LLC increased its holdings in Textron by 10.9% during the 1st quarter. Uncommon Cents Investing LLC now owns 7,555 shares of the aerospace company's stock worth $725,000 after acquiring an additional 745 shares during the period. 86.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on TXT shares. JPMorgan Chase & Co. cut their price objective on shares of Textron from $100.00 to $95.00 and set a "neutral" rating for the company in a research note on Monday, October 14th. StockNews.com lowered shares of Textron from a "strong-buy" rating to a "buy" rating in a report on Thursday, September 12th. Citigroup increased their price target on shares of Textron from $111.00 to $115.00 and gave the stock a "buy" rating in a research note on Monday, July 22nd. TD Cowen lowered shares of Textron from a "buy" rating to a "hold" rating and decreased their price target for the stock from $103.00 to $95.00 in a research note on Wednesday, September 25th. Finally, Bank of America increased their price objective on shares of Textron from $105.00 to $110.00 and gave the company a "buy" rating in a research report on Tuesday, July 23rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $101.56.

Textron Stock Up 1.1 %

Textron stock traded up $0.92 during trading hours on Monday, reaching $83.27. The stock had a trading volume of 1,004,603 shares, compared to its average volume of 1,076,869. Textron Inc. has a 52 week low of $74.13 and a 52 week high of $97.33. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.83 and a quick ratio of 0.82. The company has a market cap of $15.45 billion, a price-to-earnings ratio of 18.10, a PEG ratio of 1.55 and a beta of 1.23. The business's 50 day moving average price is $87.70 and its 200-day moving average price is $87.98.

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 $1.49 by ($0.09). Textron had a return on equity of 16.02% and a net margin of 6.30%. The company had revenue of $3.43 billion during the quarter, compared to analysts' expectations of $3.50 billion. During the same quarter in the prior year, the company posted $1.49 EPS. The company's revenue for the quarter was up 2.5% on a year-over-year basis. Sell-side analysts anticipate that Textron Inc. will post 5.3 EPS for the current year.

Textron Dividend Announcement

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 paid a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.10%. The ex-dividend date is Friday, December 13th. Textron's dividend payout ratio (DPR) is presently 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.