Y Intercept Hong Kong Ltd reduced its position in shares of Textron Inc. (NYSE:TXT - Free Report) by 84.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,660 shares of the aerospace company's stock after selling 14,920 shares during the period. Y Intercept Hong Kong Ltd's holdings in Textron were worth $236,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. MML Investors Services LLC grew its holdings in shares of Textron by 18.4% during the third quarter. MML Investors Services LLC now owns 26,505 shares of the aerospace company's stock worth $2,348,000 after purchasing an additional 4,110 shares in the last quarter. National Bank of Canada FI grew its stake in Textron by 161.8% in the 3rd quarter. National Bank of Canada FI now owns 145,174 shares of the aerospace company's stock worth $12,860,000 after buying an additional 89,724 shares in the last quarter. iA Global Asset Management Inc. increased its holdings in shares of Textron by 17.5% in the 3rd quarter. iA Global Asset Management Inc. now owns 3,577 shares of the aerospace company's stock worth $317,000 after buying an additional 534 shares during the last quarter. EP Wealth Advisors LLC bought a new stake in shares of Textron during the 3rd quarter worth $1,479,000. Finally, Kovitz Investment Group Partners LLC grew its position in Textron by 10.2% in the third quarter. Kovitz Investment Group Partners LLC now owns 64,358 shares of the aerospace company's stock worth $5,361,000 after acquiring an additional 5,983 shares in the last quarter. Institutional investors own 86.03% of the company's stock.
Textron Trading Down 0.4 %
Textron stock traded down $0.29 during mid-day trading on Thursday, reaching $75.82. 1,630,644 shares of the company traded hands, compared to its average volume of 1,086,256. 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 52-week low of $75.76 and a 52-week high of $97.33. The firm has a market capitalization of $14.07 billion, a price-to-earnings ratio of 16.66, a P/E/G ratio of 1.46 and a beta of 1.25. The firm's 50 day moving average price is $84.34 and its 200 day moving average price is $86.51.
Textron (NYSE:TXT - Get Free Report) last announced its quarterly 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 net margin of 6.30% and a return on equity of 16.02%. The company had revenue of $3.43 billion for the quarter, compared to analysts' expectations of $3.50 billion. During the same quarter in the prior year, the firm earned $1.49 EPS. Textron's quarterly revenue was up 2.5% compared to the same quarter last year. On average, analysts anticipate that Textron Inc. will post 5.52 earnings per share for the current fiscal year.
Textron Dividend Announcement
The company 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. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.11%. The ex-dividend date is Friday, December 13th. Textron's payout ratio is presently 1.76%.
Wall Street Analysts Forecast Growth
A number of equities research analysts have weighed in on the company. Robert W. Baird lowered their price target on Textron from $109.00 to $100.00 and set an "outperform" rating on the stock in a research report on Friday, October 25th. TD Cowen cut shares of Textron from a "buy" rating to a "hold" rating and reduced their price target for the company from $103.00 to $95.00 in a research report on Wednesday, September 25th. JPMorgan Chase & Co. cut their price objective on shares of Textron from $100.00 to $95.00 and set a "neutral" rating for the company in a research note on Monday, October 14th. StockNews.com cut shares of Textron from a "strong-buy" rating to a "buy" rating in a research report on Thursday, September 12th. Finally, UBS Group reduced their price objective on Textron from $87.00 to $79.00 and set a "sell" rating on the stock in a research note on Friday, October 25th. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $101.56.
Get Our Latest Stock Analysis on Textron
Textron 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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