Victory Capital Management Inc. trimmed its holdings in shares of Textron Inc. (NYSE:TXT - Free Report) by 9.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,576,323 shares of the aerospace company's stock after selling 558,955 shares during the quarter. Textron makes up about 0.5% of Victory Capital Management Inc.'s investment portfolio, making the stock its 26th largest holding. Victory Capital Management Inc. owned approximately 3.01% of Textron worth $493,951,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. Wedge Capital Management L L P NC purchased a new stake in Textron during the second quarter valued at $64,319,000. Canada Pension Plan Investment Board raised its stake in Textron by 1,611.9% during the first quarter. Canada Pension Plan Investment Board now owns 433,100 shares of the aerospace company's stock valued at $41,547,000 after purchasing an additional 407,800 shares in the last quarter. Brandes Investment Partners LP raised its stake in Textron by 20.0% during 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 purchasing an additional 258,778 shares in the last quarter. AQR Capital Management LLC raised its stake in Textron by 18.9% during the second quarter. AQR Capital Management LLC now owns 1,451,293 shares of the aerospace company's stock valued at $124,608,000 after purchasing an additional 231,173 shares in the last quarter. Finally, Fidelity National Financial Inc. purchased a new stake in Textron during the second quarter valued at $19,748,000. 86.03% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of research analysts have weighed in on the stock. Bank of America boosted their price objective on shares of Textron from $105.00 to $110.00 and gave the company a "buy" rating in a research report on Tuesday, July 23rd. Citigroup upped their price target on shares of Textron from $111.00 to $115.00 and gave the stock a "buy" rating in a report on Monday, July 22nd. StockNews.com lowered shares of Textron from a "strong-buy" rating to a "buy" rating in a research note on Thursday, September 12th. TD Cowen lowered shares of Textron from a "buy" rating to a "hold" rating and lowered their price objective for the stock from $103.00 to $95.00 in a research note on Wednesday, September 25th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Textron from $100.00 to $95.00 and set a "neutral" rating for the company in a research report on Monday, October 14th. One analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Textron currently has an average rating of "Moderate Buy" and a consensus price target of $101.56.
View Our Latest Stock Report on Textron
Textron Trading Down 1.3 %
TXT stock traded down $1.17 during trading on Tuesday, reaching $86.93. 1,250,955 shares of the stock traded hands, compared to its average volume of 1,084,025. The business's 50 day moving average price is $86.49 and its 200-day moving average price is $87.31. Textron Inc. has a 52-week low of $74.13 and a 52-week high of $97.33. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.83 and a quick ratio of 0.82. The firm has a market capitalization of $16.13 billion, a PE ratio of 19.36, a P/E/G ratio of 1.58 and a beta of 1.24.
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 (EPS) for the quarter, missing the consensus estimate of $1.49 by ($0.09). Textron had a net margin of 6.30% and a return on equity of 16.02%. The firm had revenue of $3.43 billion for the quarter, compared to analyst estimates of $3.50 billion. During the same quarter in the previous year, the company earned $1.49 EPS. The company's quarterly revenue was up 2.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Textron Inc. will post 5.52 earnings per share for the current year.
Textron Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 13th will be issued a dividend of $0.02 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.08 annualized dividend and a dividend yield of 0.09%. Textron's dividend payout ratio is 1.76%.
Textron Company Profile
(
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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