Textron Inc. (NYSE:TXT) Shares Sold by Raymond James & Associates

Raymond James & Associates reduced its position in shares of Textron Inc. (NYSE:TXT) by 2.9% in the 3rd quarter, Holdings Channel.com reports. The firm owned 204,763 shares of the aerospace company’s stock after selling 6,129 shares during the quarter. Raymond James & Associates’ holdings in Textron were worth $18,138,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Davis Investment Partners LLC increased its holdings 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 worth $1,290,000 after buying an additional 118 shares during the last quarter. Altman Advisors Inc. increased its stake in Textron by 0.6% during the second quarter. Altman Advisors Inc. now owns 22,057 shares of the aerospace company’s stock worth $1,894,000 after acquiring an additional 129 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in Textron by 0.8% in the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 18,148 shares of the aerospace company’s stock valued at $1,558,000 after purchasing an additional 146 shares during the period. Creative Planning grew its holdings in shares of Textron by 0.4% during the 3rd quarter. Creative Planning now owns 37,304 shares of the aerospace company’s stock worth $3,304,000 after purchasing an additional 165 shares during the period. Finally, Benjamin F. Edwards & Company Inc. increased its position in shares of Textron by 4.4% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 4,116 shares of the aerospace company’s stock worth $353,000 after purchasing an additional 175 shares during the last quarter. 86.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on TXT shares. Bank of America increased their target price on shares of Textron from $105.00 to $110.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. 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 research report on Thursday, August 8th. UBS Group lowered their price target on Textron from $87.00 to $79.00 and set a “sell” rating for the company in a research report on Friday. TD Cowen downgraded 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 report on Wednesday, September 25th. Finally, JPMorgan Chase & Co. lowered their target price on Textron from $100.00 to $95.00 and set a “neutral” rating for the company in a report on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $101.56.

Textron Trading Up 1.1 %

Shares of Textron stock opened at $82.35 on Friday. The company has a fifty day simple moving average of $87.70 and a 200-day simple moving average of $88.09. Textron Inc. has a 12-month low of $74.13 and a 12-month high of $97.33. The company has a current ratio of 1.79, a quick ratio of 0.81 and a debt-to-equity ratio of 0.47. The stock has a market cap of $15.43 billion, a price-to-earnings ratio of 17.45, a PEG ratio of 1.43 and a beta of 1.23.

Textron (NYSE:TXT) last issued its quarterly earnings data on Thursday, October 24th. The aerospace company reported $1.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.46 by ($0.06). The firm had revenue of $3.43 billion for the quarter, compared to analysts’ expectations of $3.50 billion. Textron had a return on equity of 16.41% and a net margin of 6.67%. The business’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period in the previous year, the business posted $1.49 EPS. On average, equities analysts forecast that Textron Inc. will post 6.1 EPS for the current fiscal year.

Textron Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Friday, December 13th will be issued a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.10%. The ex-dividend date is Friday, December 13th. Textron’s payout ratio is currently 1.69%.

Textron Company 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.