Textron Inc. (NYSE:TXT) Shares Sold by AustralianSuper Pty Ltd

AustralianSuper Pty Ltd decreased its position in Textron Inc. (NYSE:TXT - Free Report) by 10.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 84,774 shares of the aerospace company's stock after selling 9,959 shares during the quarter. AustralianSuper Pty Ltd's holdings in Textron were worth $7,509,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the company. Envestnet Portfolio Solutions Inc. boosted its position in shares of Textron by 263.6% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 13,369 shares of the aerospace company's stock worth $1,283,000 after acquiring an additional 9,692 shares in the last quarter. SG Americas Securities LLC boosted its holdings in Textron by 461.1% in the first quarter. SG Americas Securities LLC now owns 117,257 shares of the aerospace company's stock valued at $11,248,000 after purchasing an additional 96,361 shares in the last quarter. LSV Asset Management increased its stake in Textron by 6.9% in the first quarter. LSV Asset Management now owns 4,053,050 shares of the aerospace company's stock valued at $388,809,000 after purchasing an additional 260,003 shares during the last quarter. Cetera Investment Advisers raised its holdings in Textron by 579.5% during the first quarter. Cetera Investment Advisers now owns 50,684 shares of the aerospace company's stock worth $4,862,000 after purchasing an additional 43,225 shares in the last quarter. Finally, Virtu Financial LLC lifted its position in shares of Textron by 259.2% during the 1st quarter. Virtu Financial LLC now owns 17,367 shares of the aerospace company's stock worth $1,666,000 after buying an additional 12,532 shares during the last quarter. Hedge funds and other institutional investors own 86.03% of the company's stock.

Textron Stock Performance

Shares of NYSE:TXT traded up $1.04 during trading on Friday, reaching $81.46. The company had a trading volume of 1,177,018 shares, compared to its average volume of 1,080,381. Textron Inc. has a fifty-two week low of $74.13 and a fifty-two 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 stock's fifty day moving average price is $87.00 and its 200 day moving average price is $87.64. The firm has a market capitalization of $15.11 billion, a price-to-earnings ratio of 17.90, a price-to-earnings-growth ratio of 1.48 and a beta of 1.23.

Textron (NYSE:TXT - Get Free Report) last announced its quarterly earnings data on Thursday, October 24th. The aerospace company reported $1.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.49 by ($0.09). Textron had a net margin of 6.30% and a return on equity of 16.02%. The firm had revenue of $3.43 billion during the quarter, compared to analyst estimates of $3.50 billion. During the same period in the prior year, the firm posted $1.49 earnings per share. The business's quarterly revenue was up 2.5% compared to the same quarter last year. As a group, equities research analysts predict that Textron Inc. will post 5.52 EPS for the current year.

Textron Announces Dividend

The company 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 $0.02 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.08 dividend on an annualized basis and a yield of 0.10%. Textron's payout ratio is currently 1.76%.

Analyst Ratings Changes

A number of research analysts recently commented on TXT shares. JPMorgan Chase & Co. dropped their target price 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. Citigroup lifted their target price on Textron from $111.00 to $115.00 and gave the stock a "buy" rating in a research report on Monday, July 22nd. Robert W. Baird reduced their target price on Textron from $109.00 to $100.00 and set an "outperform" rating for the company in a report on Friday, October 25th. TD Cowen downgraded Textron from a "buy" rating to a "hold" rating and dropped their price target for the stock from $103.00 to $95.00 in a research note on Wednesday, September 25th. Finally, UBS Group reduced their price objective on Textron from $87.00 to $79.00 and set a "sell" rating for the company in a research note on Friday, October 25th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $101.56.

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.