Principal Financial Group Inc. Sells 4,508 Shares of Textron Inc. (NYSE:TXT)

Principal Financial Group Inc. cut its position in shares of Textron Inc. (NYSE:TXT) by 2.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 217,965 shares of the aerospace company’s stock after selling 4,508 shares during the quarter. Principal Financial Group Inc.’s holdings in Textron were worth $19,307,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Harvest Portfolios Group Inc. boosted its stake in shares of Textron by 28.9% in the 3rd quarter. Harvest Portfolios Group Inc. now owns 12,344 shares of the aerospace company’s stock worth $1,093,000 after buying an additional 2,768 shares during the last quarter. Radnor Capital Management LLC purchased a new position in Textron in the third quarter worth $1,302,000. Asset Management One Co. Ltd. boosted its position in Textron by 0.4% in the third quarter. Asset Management One Co. Ltd. now owns 80,268 shares of the aerospace company’s stock worth $7,110,000 after purchasing an additional 332 shares during the last quarter. QRG Capital Management Inc. grew its stake in Textron by 5.0% in the 3rd quarter. QRG Capital Management Inc. now owns 112,093 shares of the aerospace company’s stock valued at $9,929,000 after purchasing an additional 5,300 shares during the period. Finally, National Pension Service increased its position in shares of Textron by 2.6% during the 3rd quarter. National Pension Service now owns 368,481 shares of the aerospace company’s stock valued at $32,640,000 after purchasing an additional 9,491 shares during the last quarter. 86.03% of the stock is owned by institutional investors.

Textron Price Performance

Textron stock opened at $86.10 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.83 and a quick ratio of 0.82. Textron Inc. has a one year low of $74.13 and a one year high of $97.33. The firm has a market capitalization of $15.97 billion, a P/E ratio of 18.92, a PEG ratio of 1.57 and a beta of 1.24. The business has a fifty day moving average price of $86.41 and a 200-day moving average price of $87.30.

Textron (NYSE:TXT) last posted its earnings results on Thursday, October 24th. The aerospace company reported $1.40 earnings per share for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.09). Textron had a net margin of 6.30% and a return on equity of 16.02%. The company had revenue of $3.43 billion for the quarter, compared to analysts’ expectations of $3.50 billion. During the same period in the previous year, the firm earned $1.49 EPS. The firm’s quarterly revenue was up 2.5% compared to the same quarter last year. As a group, equities research analysts forecast that Textron Inc. will post 5.52 EPS for the current year.

Textron Dividend Announcement

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 paid a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.09%. The ex-dividend date is Friday, December 13th. Textron’s dividend payout ratio is presently 1.76%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Bank of America boosted their price target on shares of Textron from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Citigroup increased their target price on shares of Textron from $111.00 to $115.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Morgan Stanley lowered shares of Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 price target for the company. in a research note on Thursday, August 8th. UBS Group dropped their price objective on Textron from $87.00 to $79.00 and set a “sell” rating on the stock in a research note on Friday, October 25th. Finally, StockNews.com downgraded Textron from a “strong-buy” rating to a “buy” rating in a research report on Thursday, September 12th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $101.56.

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.