Amalgamated Bank lessened its holdings in Textron Inc. (NYSE:TXT - Free Report) by 28.3% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 36,931 shares of the aerospace company's stock after selling 14,572 shares during the period. Amalgamated Bank's holdings in Textron were worth $3,271,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of TXT. Envestnet Portfolio Solutions Inc. grew its stake in Textron by 263.6% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 13,369 shares of the aerospace company's stock valued at $1,283,000 after purchasing an additional 9,692 shares during the last quarter. Cetera Investment Advisers raised its stake in shares of Textron by 579.5% during the 1st quarter. Cetera Investment Advisers now owns 50,684 shares of the aerospace company's stock worth $4,862,000 after acquiring an additional 43,225 shares in the last quarter. Virtu Financial LLC lifted its position in Textron by 259.2% during the first quarter. Virtu Financial LLC now owns 17,367 shares of the aerospace company's stock valued at $1,666,000 after acquiring an additional 12,532 shares during the last quarter. Atria Investments Inc acquired a new stake in Textron in the first quarter valued at approximately $1,204,000. Finally, CreativeOne Wealth LLC purchased a new position in Textron in the first quarter worth $279,000. 86.03% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of research firms have recently weighed in on TXT. Morgan Stanley cut Textron from an "overweight" rating to an "equal weight" rating and set a $95.00 price objective for the company. in a research report on Thursday, August 8th. Bank of America raised their price target on Textron from $105.00 to $110.00 and gave the stock a "buy" rating in a report on Tuesday, July 23rd. StockNews.com downgraded shares of Textron from a "strong-buy" rating to a "buy" rating in a report on Thursday, September 12th. Robert W. Baird lowered their target price on shares of Textron from $109.00 to $100.00 and set an "outperform" rating for the company in a research note on Friday, October 25th. Finally, JPMorgan Chase & Co. cut their price target on shares of Textron from $100.00 to $95.00 and set a "neutral" rating on the stock in a research note on Monday, October 14th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $101.56.
Check Out Our Latest Stock Report on Textron
Textron Stock Performance
TXT traded down $0.31 during trading on Friday, reaching $87.56. 1,250,547 shares of the company's stock were exchanged, compared to its average volume of 1,202,433. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.83 and a quick ratio of 0.82. Textron Inc. has a 1 year low of $74.13 and a 1 year high of $97.33. The company's fifty day simple moving average is $86.56 and its 200-day simple moving average is $87.28. The stock has a market capitalization of $16.24 billion, a P/E ratio of 19.24, a price-to-earnings-growth ratio of 1.58 and a beta of 1.24.
Textron (NYSE:TXT - Get Free Report) last issued its earnings results 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 return on equity of 16.02% and a net margin of 6.30%. The business had revenue of $3.43 billion for the quarter, compared to analysts' expectations of $3.50 billion. During the same period last year, the business earned $1.49 EPS. The company's revenue for the quarter was up 2.5% on a year-over-year basis. As a group, research analysts predict that Textron Inc. will post 5.52 earnings per share for the current fiscal 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 is Friday, December 13th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.09%. Textron's payout ratio is 1.76%.
Textron Company Profile
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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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