Fmr LLC Sells 144,162 Shares of Textron Inc. (NYSE:TXT)

Fmr LLC reduced its stake in Textron Inc. (NYSE:TXT) by 6.3% during the third quarter, according to its most recent filing with the SEC. The fund owned 2,140,572 shares of the aerospace company’s stock after selling 144,162 shares during the quarter. Fmr LLC owned 1.15% of Textron worth $189,612,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Bank of Montreal Can lifted its position in shares of Textron by 0.4% during the 3rd quarter. Bank of Montreal Can now owns 190,615 shares of the aerospace company’s stock valued at $16,726,000 after buying an additional 772 shares during the last quarter. Hancock Whitney Corp purchased a new stake in Textron during the third quarter valued at about $214,000. Truvestments Capital LLC bought a new position in Textron during the third quarter worth about $43,000. DRW Securities LLC bought a new position in Textron during the third quarter worth about $523,000. Finally, Independent Advisor Alliance increased its stake in shares of Textron by 4.2% in the third quarter. Independent Advisor Alliance now owns 33,000 shares of the aerospace company’s stock worth $2,923,000 after purchasing an additional 1,339 shares in the last quarter. Institutional investors own 86.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on TXT. JPMorgan Chase & Co. dropped their target price on Textron from $100.00 to $95.00 and set a “neutral” rating on the stock in a research report on Monday, October 14th. Morgan Stanley downgraded 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. Robert W. Baird decreased 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 lowered shares of 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. Finally, StockNews.com lowered shares of Textron from a “strong-buy” rating to a “buy” rating in a report on Thursday, September 12th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $101.56.

Textron Price Performance

Shares of Textron stock opened at $85.44 on Tuesday. The company has a market cap of $15.85 billion, a PE ratio of 18.78, a P/E/G ratio of 1.54 and a beta of 1.24. The business has a 50 day moving average of $85.73 and a 200 day moving average of $87.11. Textron Inc. has a 52 week low of $75.70 and a 52 week high of $97.33. The company has a quick ratio of 0.82, a current ratio of 1.83 and a debt-to-equity ratio of 0.46.

Textron (NYSE:TXT) last posted its earnings results on Thursday, October 24th. The aerospace company reported $1.40 EPS 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 during the quarter, compared to analysts’ expectations of $3.50 billion. During the same period in the prior year, the business posted $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, equities research analysts forecast that Textron Inc. will post 5.53 earnings per share for the current year.

Textron Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders 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 dividend on an annualized basis and a dividend yield of 0.09%. Textron’s dividend payout ratio (DPR) is 1.76%.

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.