Short Interest in Textron Inc. (NYSE:TXT) Increases By 17.1%

Textron Inc. (NYSE:TXT) was the target of a large increase in short interest during the month of September. As of September 15th, there was short interest totalling 4,310,000 shares, an increase of 17.1% from the August 31st total of 3,680,000 shares. Approximately 2.3% of the shares of the company are short sold. Based on an average daily trading volume, of 941,900 shares, the short-interest ratio is presently 4.6 days.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Cambridge Investment Research Advisors Inc. boosted its position in shares of Textron by 1.7% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 15,866 shares of the aerospace company’s stock valued at $1,276,000 after purchasing an additional 260 shares in the last quarter. Steward Partners Investment Advisory LLC increased its stake in shares of Textron by 219.5% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 35,301 shares of the aerospace company’s stock worth $2,839,000 after purchasing an additional 24,253 shares in the last quarter. TFO Wealth Partners LLC lifted its holdings in Textron by 50,330.8% during the fourth quarter. TFO Wealth Partners LLC now owns 6,556 shares of the aerospace company’s stock valued at $527,000 after purchasing an additional 6,543 shares in the last quarter. Bank of Nova Scotia increased its stake in Textron by 154.6% in the 4th quarter. Bank of Nova Scotia now owns 47,126 shares of the aerospace company’s stock worth $3,790,000 after buying an additional 28,619 shares in the last quarter. Finally, FinTrust Capital Advisors LLC purchased a new stake in shares of Textron during the fourth quarter worth about $1,187,000. Hedge funds and other institutional investors own 86.03% of the company’s stock.

Textron Trading Up 0.1 %

NYSE TXT traded up $0.12 on Monday, reaching $87.87. The company had a trading volume of 236,913 shares, compared to its average volume of 1,075,027. The firm has a market cap of $16.76 billion, a price-to-earnings ratio of 18.75, a P/E/G ratio of 1.38 and a beta of 1.23. The business has a 50 day moving average of $88.26 and a two-hundred day moving average of $89.13. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.79 and a quick ratio of 0.81. Textron has a fifty-two week low of $74.13 and a fifty-two week high of $97.33.

Textron (NYSE:TXT) last issued its quarterly earnings data on Thursday, July 18th. The aerospace company reported $1.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.48 by $0.06. The business had revenue of $3.53 billion during the quarter, compared to the consensus estimate of $3.56 billion. Textron had a net margin of 6.67% and a return on equity of 16.41%. The firm’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.46 EPS. Analysts forecast that Textron will post 6.26 EPS for the current year.

Textron Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be paid a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.09%. The ex-dividend date of this dividend is Friday, September 13th. Textron’s dividend payout ratio (DPR) is currently 1.71%.

Analyst Ratings Changes

Several research analysts have recently issued reports on TXT shares. TD Cowen cut shares of Textron from a “buy” rating to a “hold” rating and decreased their price objective for the company from $103.00 to $95.00 in a report on Wednesday, September 25th. UBS Group increased their target price on shares of Textron from $84.00 to $87.00 and gave the stock a “sell” rating in a research report on Friday, July 19th. Morgan Stanley lowered Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 target price on the stock. in a report on Thursday, August 8th. Citigroup raised their target price on shares of Textron from $111.00 to $115.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Finally, Bank of America increased their price objective on Textron from $105.00 to $110.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. One 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 company. Based on data from MarketBeat.com, Textron has a consensus rating of “Hold” and an average target price of $101.50.

About Textron

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.