UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its holdings in Textron Inc. (NYSE:TXT - Free Report) by 4.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 817,576 shares of the aerospace company's stock after selling 38,972 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.44% of Textron worth $72,421,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in the business. Cetera Investment Advisers increased its holdings 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 valued at $4,862,000 after purchasing an additional 43,225 shares in the last quarter. Easterly Investment Partners LLC boosted its stake in shares of Textron by 87.7% during the 3rd quarter. Easterly Investment Partners LLC now owns 41,305 shares of the aerospace company's stock worth $3,659,000 after acquiring an additional 19,304 shares in the last quarter. KBC Group NV purchased a new position in Textron during the third quarter worth approximately $1,797,000. Atria Investments Inc purchased a new stake in shares of Textron in the first quarter valued at approximately $1,204,000. Finally, Robeco Institutional Asset Management B.V. raised its stake in shares of Textron by 13.3% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 495,411 shares of the aerospace company's stock worth $43,884,000 after buying an additional 57,967 shares during the period. Hedge funds and other institutional investors own 86.03% of the company's stock.
Analyst Upgrades and Downgrades
TXT has been the subject of several recent analyst reports. UBS Group cut their price target 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. StockNews.com lowered shares of Textron from a "strong-buy" rating to a "buy" rating in a research note on Thursday, September 12th. JPMorgan Chase & Co. reduced their target price on Textron from $100.00 to $95.00 and set a "neutral" rating for the company in a report on Monday, October 14th. Robert W. Baird dropped their price target on Textron from $109.00 to $100.00 and set an "outperform" rating for the company in a research report on Friday, October 25th. Finally, TD Cowen cut shares of Textron from a "buy" rating to a "hold" rating and reduced their target price for the company from $103.00 to $95.00 in a research report on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $101.56.
Read Our Latest Analysis on TXT
Textron Stock Down 0.3 %
Shares of Textron stock traded down $0.28 during trading hours on Tuesday, reaching $85.18. 633,377 shares of the company were exchanged, compared to its average volume of 1,080,703. The firm has a market cap of $15.80 billion, a PE ratio of 18.71, a PEG ratio of 1.54 and a beta of 1.25. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.82 and a current ratio of 1.83. Textron Inc. has a 1 year low of $75.70 and a 1 year high of $97.33. The stock's fifty day moving average is $85.70 and its 200 day moving average is $87.10.
Textron (NYSE:TXT - Get Free Report) last issued its earnings results on Thursday, October 24th. The aerospace company reported $1.40 EPS 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 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 firm posted $1.49 EPS. The business's revenue for the quarter was up 2.5% on a year-over-year basis. As a group, equities research analysts forecast that Textron Inc. will post 5.53 earnings per share for the current year.
Textron Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.09%. Textron's payout ratio is 1.76%.
About Textron
(
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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