Tidal Investments LLC Trims Holdings in Textron Inc. (NYSE:TXT)

Tidal Investments LLC trimmed its holdings in shares of Textron Inc. (NYSE:TXT - Free Report) by 69.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,711 shares of the aerospace company's stock after selling 8,557 shares during the quarter. Tidal Investments LLC's holdings in Textron were worth $329,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of TXT. Innealta Capital LLC purchased a new stake in Textron during the second quarter valued at about $25,000. True Wealth Design LLC purchased a new position in shares of Textron during the 3rd quarter valued at about $26,000. Capital Performance Advisors LLP bought a new stake in Textron in the 3rd quarter worth approximately $42,000. Truvestments Capital LLC purchased a new stake in Textron in the third quarter worth approximately $43,000. Finally, Venturi Wealth Management LLC grew its position in Textron by 69.5% during the third quarter. Venturi Wealth Management LLC now owns 566 shares of the aerospace company's stock valued at $50,000 after acquiring an additional 232 shares during the last quarter. Hedge funds and other institutional investors own 86.03% of the company's stock.

Textron Trading Up 1.0 %

Shares of TXT traded up $0.80 during mid-day trading on Wednesday, hitting $77.24. 435,522 shares of the company's stock traded hands, compared to its average volume of 1,094,676. The business's 50-day moving average price is $83.46 and its 200-day moving average price is $86.24. Textron Inc. has a 1 year low of $75.36 and a 1 year high of $97.33. The firm has a market capitalization of $14.33 billion, a P/E ratio of 16.98, a PEG ratio of 1.46 and a beta of 1.25. 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 (NYSE:TXT - Get Free Report) last issued 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 company had revenue of $3.43 billion during the quarter, compared to the consensus estimate of $3.50 billion. Textron had a return on equity of 16.02% and a net margin of 6.30%. The firm's revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter last year, the company posted $1.49 earnings per share. As a group, sell-side analysts forecast that Textron Inc. will post 5.52 EPS for the current fiscal year.

Textron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Friday, December 13th will be issued a $0.02 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.08 annualized dividend and a yield of 0.10%. Textron's dividend payout ratio (DPR) is presently 1.76%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on TXT shares. JPMorgan Chase & Co. lowered their price objective on shares of Textron from $100.00 to $95.00 and set a "neutral" rating for the company in a report on Monday, October 14th. Barclays lowered their price target on shares of Textron from $104.00 to $95.00 and set an "overweight" rating for the company in a research note on Monday. Robert W. Baird reduced their price objective on Textron from $109.00 to $100.00 and set an "outperform" rating on the stock in a research note on Friday, October 25th. StockNews.com lowered Textron from a "strong-buy" rating to a "buy" rating in a research note on Thursday, September 12th. Finally, UBS Group dropped their target price on Textron from $87.00 to $79.00 and set a "sell" rating for the company in a report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $100.90.

Textron 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.