Capital Market Strategies LLC Sells 483 Shares of Textron Inc. (NYSE:TXT)

Capital Market Strategies LLC decreased its stake in Textron Inc. (NYSE:TXT) by 6.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,573 shares of the aerospace company’s stock after selling 483 shares during the period. Capital Market Strategies LLC’s holdings in Textron were worth $671,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of TXT. Boston Partners increased its stake in shares of Textron by 1.4% during the 1st quarter. Boston Partners now owns 7,116,231 shares of the aerospace company’s stock worth $682,475,000 after purchasing an additional 99,868 shares during the last quarter. LSV Asset Management increased its position in Textron by 6.9% during the first quarter. LSV Asset Management now owns 4,053,050 shares of the aerospace company’s stock worth $388,809,000 after buying an additional 260,003 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Textron by 6.1% in the second quarter. Dimensional Fund Advisors LP now owns 2,808,600 shares of the aerospace company’s stock valued at $241,152,000 after buying an additional 160,923 shares during the period. Brandes Investment Partners LP raised its stake in Textron by 20.0% in the second quarter. Brandes Investment Partners LP now owns 1,549,551 shares of the aerospace company’s stock valued at $133,096,000 after buying an additional 258,778 shares during the period. Finally, AQR Capital Management LLC lifted its position in shares of Textron by 18.9% in the second quarter. AQR Capital Management LLC now owns 1,451,293 shares of the aerospace company’s stock valued at $124,608,000 after buying an additional 231,173 shares during the last quarter. Institutional investors and hedge funds own 86.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on TXT shares. StockNews.com downgraded Textron from a “strong-buy” rating to a “buy” rating in a report on Thursday, September 12th. Morgan Stanley cut shares of Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 target price for the company. in a research note on Thursday, August 8th. Bank of America upped their price target on shares of Textron from $105.00 to $110.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Citigroup raised their price objective on shares of Textron from $111.00 to $115.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Finally, TD Cowen cut Textron from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $103.00 to $95.00 in a report on Wednesday, September 25th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $101.50.

Textron Stock Down 1.0 %

Shares of TXT opened at $86.11 on Friday. The company has a current ratio of 1.79, a quick ratio of 0.81 and a debt-to-equity ratio of 0.47. Textron Inc. has a 12 month low of $74.13 and a 12 month high of $97.33. The firm’s 50 day moving average is $88.04 and its 200-day moving average is $89.05. The stock has a market capitalization of $16.13 billion, a PE ratio of 18.40, a P/E/G ratio of 1.39 and a beta of 1.23.

Textron (NYSE:TXT) last posted its quarterly earnings data on Thursday, July 18th. The aerospace company reported $1.54 EPS for the quarter, topping analysts’ consensus estimates of $1.48 by $0.06. The firm had revenue of $3.53 billion for the quarter, compared to analyst estimates of $3.56 billion. Textron had a return on equity of 16.41% and a net margin of 6.67%. The company’s revenue was up 3.0% on a year-over-year basis. During the same quarter last year, the company earned $1.46 EPS. Equities research analysts forecast that Textron Inc. will post 6.18 EPS for the current year.

Textron Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were paid a dividend of $0.02 per share. The ex-dividend date was Friday, September 13th. This represents a $0.08 dividend on an annualized basis and a yield of 0.09%. Textron’s payout ratio is 1.71%.

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.