Boys Arnold & Co. Inc. decreased its position in Textron Inc. (NYSE:TXT) by 5.4% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 19,970 shares of the aerospace company’s stock after selling 1,150 shares during the period. Boys Arnold & Co. Inc.’s holdings in Textron were worth $1,076,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Victory Capital Management Inc. increased its holdings in Textron by 10.3% in the third quarter. Victory Capital Management Inc. now owns 4,112,026 shares of the aerospace company’s stock valued at $221,557,000 after buying an additional 384,277 shares in the last quarter. Crossmark Global Holdings Inc. purchased a new position in Textron in the third quarter valued at $7,877,000. Raymond James Financial Services Advisors Inc. increased its holdings in Textron by 17.0% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 26,282 shares of the aerospace company’s stock valued at $1,416,000 after buying an additional 3,810 shares in the last quarter. Heartland Advisors Inc. purchased a new position in Textron in the third quarter valued at $211,000. Finally, Regentatlantic Capital LLC increased its holdings in Textron by 10.7% in the third quarter. Regentatlantic Capital LLC now owns 95,060 shares of the aerospace company’s stock valued at $5,122,000 after buying an additional 9,155 shares in the last quarter. 81.32% of the stock is owned by institutional investors.
Textron Inc. (TXT) traded up 0.53% during mid-day trading on Tuesday, hitting $52.88. 539,919 shares of the stock were exchanged. The company has a market cap of $14.00 billion, a P/E ratio of 16.17 and a beta of 1.59. Textron Inc. has a one year low of $38.79 and a one year high of $55.80. The company has a 50-day moving average price of $53.48 and a 200-day moving average price of $49.28.
Textron (NYSE:TXT) last posted its earnings results on Thursday, October 19th. The aerospace company reported $0.65 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.03. Textron had a net margin of 4.48% and a return on equity of 12.02%. The firm had revenue of $3.48 billion during the quarter, compared to the consensus estimate of $3.55 billion. During the same period last year, the firm posted $0.61 EPS. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. Analysts forecast that Textron Inc. will post $2.48 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, January 1st. Shareholders of record on Friday, December 15th will be issued a dividend of $0.02 per share. The ex-dividend date is Thursday, December 14th. This represents a $0.08 annualized dividend and a yield of 0.15%. Textron’s dividend payout ratio (DPR) is currently 3.45%.
A number of research analysts have weighed in on the stock. Jefferies Group LLC reaffirmed a “buy” rating and issued a $65.00 price objective on shares of Textron in a report on Friday, October 20th. Credit Suisse Group cut their price objective on shares of Textron from $61.00 to $59.00 and set an “outperform” rating for the company in a report on Friday, October 20th. Wells Fargo & Company lifted their price objective on shares of Textron from $54.00 to $59.00 and gave the company an “outperform” rating in a report on Friday, October 20th. Citigroup Inc. lifted their price objective on shares of Textron from $54.00 to $61.00 and gave the company a “buy” rating in a report on Friday, October 20th. Finally, Cowen and Company reaffirmed a “buy” rating and issued a $60.00 price objective on shares of Textron in a report on Thursday, October 19th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $56.92.
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Textron Inc is a multi-industry company engaged in aircraft, defense, industrial and finance businesses to provide customers with products and services across the world. The Company operates through five segments: Textron Aviation, Bell, Textron Systems, Industrial and Finance. The Textron Aviation segment is engaged in general aviation.
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