PNC Financial Services Group Inc. Purchases 2,124 Shares of Textron Inc. (NYSE:TXT)

PNC Financial Services Group Inc. lifted its holdings in shares of Textron Inc. (NYSE:TXT) by 4.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 46,397 shares of the aerospace company’s stock after buying an additional 2,124 shares during the period. PNC Financial Services Group Inc.’s holdings in Textron were worth $4,110,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Cetera Investment Advisers lifted its stake in Textron by 579.5% in the 1st quarter. Cetera Investment Advisers now owns 50,684 shares of the aerospace company’s stock valued at $4,862,000 after purchasing an additional 43,225 shares during the last quarter. Virtu Financial LLC increased its holdings in shares of Textron by 259.2% during the first quarter. Virtu Financial LLC now owns 17,367 shares of the aerospace company’s stock worth $1,666,000 after purchasing an additional 12,532 shares during the period. Easterly Investment Partners LLC increased its holdings in shares of Textron by 87.7% during the third quarter. Easterly Investment Partners LLC now owns 41,305 shares of the aerospace company’s stock worth $3,659,000 after purchasing an additional 19,304 shares during the period. KBC Group NV bought a new position in Textron in the third quarter valued at approximately $1,797,000. Finally, Atria Investments Inc bought a new position in Textron in the first quarter valued at approximately $1,204,000. 86.03% of the stock is currently owned by institutional investors and hedge funds.

Textron Stock Performance

Shares of Textron stock opened at $85.38 on Monday. Textron Inc. has a fifty-two week low of $74.13 and a fifty-two week high of $97.33. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.83 and a quick ratio of 0.82. The firm has a market capitalization of $15.84 billion, a P/E ratio of 18.76, a P/E/G ratio of 1.54 and a beta of 1.24. The company’s 50 day moving average price is $86.02 and its two-hundred day moving average price is $87.21.

Textron (NYSE:TXT) last issued its quarterly earnings data on Thursday, October 24th. The aerospace company reported $1.40 earnings per share 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 business had revenue of $3.43 billion during the quarter, compared to the consensus estimate of $3.50 billion. During the same period in the prior year, the firm earned $1.49 EPS. The business’s revenue for the quarter was up 2.5% compared to the same quarter last year. On average, equities analysts forecast that Textron Inc. will post 5.53 earnings per share for the current fiscal year.

Textron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 13th will be paid a $0.02 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.08 annualized dividend and a dividend yield of 0.09%. Textron’s dividend payout ratio is 1.76%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Textron from $100.00 to $95.00 and set a “neutral” rating on the stock in a research note on Monday, October 14th. UBS Group decreased their price objective on shares of Textron from $87.00 to $79.00 and set a “sell” rating on the stock in a research note on Friday, October 25th. 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 research note on Wednesday, September 25th. Morgan Stanley cut shares of Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 price objective on the stock. in a research note on Thursday, August 8th. Finally, Robert W. Baird cut their target price on shares of Textron from $109.00 to $100.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. One equities research 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. Based on data from MarketBeat, Textron currently has a consensus rating of “Moderate Buy” and an average target price of $101.56.

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.