State Street Corp Sells 31,541 Shares of Textron Inc. (NYSE:TXT)

State Street Corp trimmed its position in Textron Inc. (NYSE:TXT - Free Report) by 0.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,781,142 shares of the aerospace company's stock after selling 31,541 shares during the period. State Street Corp owned about 4.73% of Textron worth $778,008,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in TXT. Empirical Finance LLC boosted its holdings in shares of Textron by 1.7% in the third quarter. Empirical Finance LLC now owns 7,047 shares of the aerospace company's stock worth $624,000 after buying an additional 115 shares during the last quarter. Davis Investment Partners LLC boosted its stake in shares of Textron by 0.8% during the 3rd quarter. Davis Investment Partners LLC now owns 14,828 shares of the aerospace company's stock worth $1,290,000 after acquiring an additional 118 shares during the last quarter. Apollon Wealth Management LLC grew its position in shares of Textron by 4.9% during the 3rd quarter. Apollon Wealth Management LLC now owns 2,655 shares of the aerospace company's stock valued at $235,000 after acquiring an additional 125 shares during the period. Altman Advisors Inc. increased its stake in shares of 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 purchasing an additional 129 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in Textron by 0.8% in the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 18,148 shares of the aerospace company's stock worth $1,558,000 after purchasing an additional 146 shares during the period. 86.03% of the stock is currently owned by institutional investors.

Textron Price Performance

TXT stock traded down $0.45 during mid-day trading on Friday, hitting $82.66. The company had a trading volume of 1,320,996 shares, compared to its average volume of 983,434. The company has a market capitalization of $15.33 billion, a price-to-earnings ratio of 18.17, a P/E/G ratio of 1.49 and a beta of 1.25. The company has a 50-day moving average price of $85.49 and a 200 day moving average price of $86.97. The company has a quick ratio of 0.82, a current ratio of 1.83 and a debt-to-equity ratio of 0.46. Textron Inc. has a 12-month low of $75.70 and a 12-month high of $97.33.

Textron (NYSE:TXT - Get Free Report) last released its quarterly earnings results on Thursday, October 24th. The aerospace company reported $1.40 earnings per share 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 net margin of 6.30% and a return on equity of 16.02%. The business's quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.49 EPS. On average, research analysts anticipate that Textron Inc. will post 5.52 earnings per share for the current year.

Textron Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders 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 payout ratio is currently 1.76%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on TXT. JPMorgan Chase & Co. reduced their price target on Textron from $100.00 to $95.00 and set a "neutral" rating for the company in a research report on Monday, October 14th. UBS Group reduced their target price 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. TD Cowen lowered shares of 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 report on Wednesday, September 25th. Robert W. Baird decreased their price objective on shares of Textron from $109.00 to $100.00 and set an "outperform" rating on the stock in a research report on Friday, October 25th. Finally, StockNews.com cut shares of Textron from a "strong-buy" rating to a "buy" rating in a research note on Thursday, September 12th. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price 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.