Ontario Teachers Pension Plan Board reduced its holdings in Textron Inc. (NYSE:TXT - Free Report) by 70.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,679 shares of the aerospace company's stock after selling 18,712 shares during the quarter. Ontario Teachers Pension Plan Board's holdings in Textron were worth $680,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Cetera Investment Advisers grew its position in shares of Textron by 579.5% in the 1st quarter. Cetera Investment Advisers now owns 50,684 shares of the aerospace company's stock worth $4,862,000 after buying an additional 43,225 shares during the last quarter. Virtu Financial LLC lifted its stake in shares of Textron by 259.2% in the 1st quarter. Virtu Financial LLC now owns 17,367 shares of the aerospace company's stock valued at $1,666,000 after purchasing an additional 12,532 shares during the period. Easterly Investment Partners LLC lifted its stake in shares of Textron by 87.7% in the 3rd quarter. Easterly Investment Partners LLC now owns 41,305 shares of the aerospace company's stock valued at $3,659,000 after purchasing an additional 19,304 shares during the period. Atria Investments Inc purchased a new position in shares of Textron in the 1st quarter valued at approximately $1,204,000. Finally, KBC Group NV purchased a new position in shares of Textron in the 3rd quarter valued at approximately $1,797,000. 86.03% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
TXT has been the subject of a number of research analyst reports. StockNews.com cut Textron from a "strong-buy" rating to a "buy" rating in a research note on Thursday, September 12th. TD Cowen lowered Textron from a "buy" rating to a "hold" rating and cut their price target for the company from $103.00 to $95.00 in a report on Wednesday, September 25th. UBS Group cut their price target on Textron from $87.00 to $79.00 and set a "sell" rating for the company in a report on Friday, October 25th. Morgan Stanley lowered Textron from an "overweight" rating to an "equal weight" rating and set a $95.00 price target for the company. in a report on Thursday, August 8th. Finally, JPMorgan Chase & Co. cut their price target on Textron from $100.00 to $95.00 and set a "neutral" rating for the company in a report on Monday, October 14th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $101.56.
Read Our Latest Research Report on TXT
Textron Stock Up 1.7 %
Shares of TXT traded up $1.42 during midday trading on Friday, hitting $85.38. 743,955 shares of the company's stock traded hands, compared to its average volume of 1,088,210. Textron Inc. has a 1 year low of $74.13 and a 1 year high of $97.33. The firm's fifty day moving average is $86.07 and its 200-day moving average is $87.22. The company has a current ratio of 1.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $15.84 billion, a price-to-earnings ratio of 18.53, a price-to-earnings-growth ratio of 1.46 and a beta of 1.24.
Textron (NYSE:TXT - Get Free Report) last issued 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). The business had revenue of $3.43 billion for the quarter, compared to analysts' expectations of $3.50 billion. Textron had a net margin of 6.30% and a return on equity of 16.02%. The business's revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.49 EPS. As a group, sell-side analysts anticipate that Textron Inc. will post 5.53 earnings per share for the current year.
Textron Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 13th will be paid a $0.02 dividend. 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 dividend payout ratio (DPR) is 1.76%.
About Textron
(
Free Report)
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.
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