Sanctuary Advisors LLC Cuts Stake in Textron Inc. (NYSE:TXT)

Sanctuary Advisors LLC lessened its holdings in Textron Inc. (NYSE:TXT - Free Report) by 79.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,342 shares of the aerospace company's stock after selling 39,182 shares during the quarter. Sanctuary Advisors LLC's holdings in Textron were worth $883,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Brandes Investment Partners LP boosted its position in Textron by 20.0% in the second quarter. Brandes Investment Partners LP now owns 1,549,551 shares of the aerospace company's stock valued at $133,096,000 after buying an additional 258,778 shares in the last quarter. AQR Capital Management LLC increased its position in Textron by 18.9% in the 2nd quarter. AQR Capital Management LLC now owns 1,451,293 shares of the aerospace company's stock valued at $124,608,000 after acquiring an additional 231,173 shares during the period. Fidelity National Financial Inc. bought a new position in shares of Textron during the second quarter valued at $19,748,000. Distillate Capital Partners LLC increased its holdings in Textron by 101,299.4% in the second quarter. Distillate Capital Partners LLC now owns 166,295 shares of the aerospace company's stock valued at $14,278,000 after purchasing an additional 166,131 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in Textron by 6.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,808,600 shares of the aerospace company's stock worth $241,152,000 after buying an additional 160,923 shares during the period. Institutional investors and hedge funds own 86.03% of the company's stock.

Textron Stock Down 1.0 %

Shares of NYSE TXT traded down $0.79 during trading hours on Monday, hitting $76.06. 353,972 shares of the stock were exchanged, compared to its average volume of 1,093,525. The company has a quick ratio of 0.82, a current ratio of 1.83 and a debt-to-equity ratio of 0.46. The firm has a fifty day moving average price of $84.12 and a 200-day moving average price of $86.43. Textron Inc. has a 12 month low of $75.36 and a 12 month high of $97.33. The company has a market cap of $14.11 billion, a PE ratio of 16.72, a PEG ratio of 1.46 and a beta of 1.25.

Textron (NYSE:TXT - Get Free Report) last posted 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 firm had revenue of $3.43 billion for the quarter, compared to analysts' expectations of $3.50 billion. Textron had a return on equity of 16.02% and a net margin of 6.30%. Textron's quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.49 earnings per share. On average, sell-side analysts expect that Textron Inc. will post 5.52 EPS for the current year.

Textron Announces Dividend

The business 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 $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.11%. The ex-dividend date of this dividend is Friday, December 13th. Textron's payout ratio is currently 1.76%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports 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 report on Monday, October 14th. Robert W. Baird reduced their price target on shares of Textron from $109.00 to $100.00 and set an "outperform" rating for the company in a research report on Friday, October 25th. UBS Group reduced their price objective on shares of Textron from $87.00 to $79.00 and set a "sell" rating for the company in a report on Friday, October 25th. StockNews.com downgraded Textron from a "strong-buy" rating to a "buy" rating in a research note on Thursday, September 12th. Finally, TD Cowen raised Textron to a "hold" rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $100.90.

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.