TCW Group Inc. Cuts Stock Holdings in Textron Inc. (NYSE:TXT)

TCW Group Inc. trimmed its position in shares of Textron Inc. (NYSE:TXT - Free Report) by 16.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 466,359 shares of the aerospace company's stock after selling 91,576 shares during the period. TCW Group Inc. owned about 0.25% of Textron worth $41,310,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Empirical Finance LLC grew its position in Textron by 1.7% during the 3rd quarter. Empirical Finance LLC now owns 7,047 shares of the aerospace company's stock worth $624,000 after acquiring an additional 115 shares during the last quarter. Davis Investment Partners LLC boosted its position in 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 buying an additional 118 shares during the period. Apollon Wealth Management LLC grew its holdings in Textron by 4.9% in the 3rd quarter. Apollon Wealth Management LLC now owns 2,655 shares of the aerospace company's stock worth $235,000 after acquiring an additional 125 shares during the last quarter. Altman Advisors Inc. grew its holdings in Textron by 0.6% in the 2nd quarter. Altman Advisors Inc. now owns 22,057 shares of the aerospace company's stock worth $1,894,000 after acquiring an additional 129 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of Textron by 0.8% in 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 acquiring an additional 146 shares during the period. Institutional investors own 86.03% of the company's stock.

Textron Stock Up 0.1 %

Shares of NYSE:TXT traded up $0.06 during midday trading on Wednesday, reaching $82.13. The company's stock had a trading volume of 1,108,085 shares, compared to its average volume of 1,081,635. 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 50 day moving average of $85.26 and a 200-day moving average of $86.87. The firm has a market capitalization of $15.24 billion, a P/E ratio of 18.04, a PEG ratio of 1.49 and a beta of 1.25. Textron Inc. has a 12-month low of $76.89 and a 12-month high of $97.33.

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 for the quarter, missing analysts' consensus estimates of $1.49 by ($0.09). Textron had a return on equity of 16.02% and a net margin of 6.30%. The business had revenue of $3.43 billion during the quarter, compared to analysts' expectations of $3.50 billion. During the same quarter last year, the company posted $1.49 EPS. Textron's revenue for the quarter was up 2.5% compared to the same quarter last year. On average, research analysts anticipate that Textron Inc. will post 5.52 earnings per share for the current year.

Textron Dividend Announcement

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 paid 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 dividend yield of 0.10%. Textron's dividend payout ratio is currently 1.76%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on TXT. Robert W. Baird cut their target price on Textron from $109.00 to $100.00 and set an "outperform" rating on the stock in a research note on Friday, October 25th. JPMorgan Chase & Co. cut their price objective on Textron from $100.00 to $95.00 and set a "neutral" rating on the stock in a research report on Monday, October 14th. StockNews.com downgraded Textron from a "strong-buy" rating to a "buy" rating in a report on Thursday, September 12th. UBS Group cut their price target on shares of Textron from $87.00 to $79.00 and set a "sell" rating on the stock in a report on Friday, October 25th. Finally, TD Cowen downgraded shares of Textron from a "buy" rating to a "hold" rating and reduced their price objective for the company from $103.00 to $95.00 in a research report on Wednesday, September 25th. 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's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $101.56.

Textron Company 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.