Natixis Advisors LLC decreased its position in shares of Textron Inc. (NYSE:TXT - Free Report) by 5.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 250,016 shares of the aerospace company's stock after selling 13,729 shares during the quarter. Natixis Advisors LLC owned 0.13% of Textron worth $22,146,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Empirical Finance LLC grew its position in Textron by 1.7% during the third quarter. Empirical Finance LLC now owns 7,047 shares of the aerospace company's stock valued at $624,000 after buying an additional 115 shares during the period. Davis Investment Partners LLC grew its position 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 valued at $1,290,000 after acquiring an additional 118 shares during the period. 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. raised its holdings in 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 during the period. 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 owned by hedge funds and other institutional investors.
A number of analysts have recently commented on TXT shares. TD Cowen cut Textron from a "buy" rating to a "hold" rating and cut their price objective for the company from $103.00 to $95.00 in a research report on Wednesday, September 25th. Robert W. Baird reduced their price objective on shares of Textron from $109.00 to $100.00 and set an "outperform" rating for the company in a research report on Friday, October 25th. Bank of America increased their price objective on shares of Textron from $105.00 to $110.00 and gave the company a "buy" rating in a report on Tuesday, July 23rd. Morgan Stanley downgraded shares of Textron from an "overweight" rating to an "equal weight" rating and set a $95.00 price target for the company. in a research report on Thursday, August 8th. Finally, StockNews.com lowered shares of Textron from a "strong-buy" rating to a "buy" rating in a research note on Thursday, September 12th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $101.56.
Check Out Our Latest Report on Textron
TXT opened at $83.34 on Tuesday. Textron Inc. has a twelve month low of $74.13 and a twelve month high of $97.33. The firm has a market capitalization of $15.46 billion, a PE ratio of 18.32, a PEG ratio of 1.53 and a beta of 1.24. The company has a current ratio of 1.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.46. The firm's 50-day moving average price is $86.32 and its 200 day moving average price is $87.31.
Textron (NYSE:TXT - Get Free Report) last issued its 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). Textron had a return on equity of 16.02% and a net margin of 6.30%. The company had revenue of $3.43 billion for the quarter, compared to analyst estimates of $3.50 billion. During the same quarter in the prior year, the firm earned $1.49 earnings per share. The company's revenue for the quarter was up 2.5% on a year-over-year basis. As a group, sell-side analysts expect that Textron Inc. will post 5.52 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders 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 0.10%. Textron's dividend payout ratio is presently 1.76%.
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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