Pittenger & Anderson Inc. Has $295,000 Position in Textron Inc. (NYSE:TXT)

Pittenger & Anderson Inc. trimmed its position in Textron Inc. (NYSE:TXT) by 54.9% in the third quarter, Holdings Channel.com reports. The institutional investor owned 3,325 shares of the aerospace company’s stock after selling 4,050 shares during the period. Pittenger & Anderson Inc.’s holdings in Textron were worth $295,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Norden Group LLC acquired a new stake in shares of Textron in the first quarter valued at about $220,000. First Trust Direct Indexing L.P. bought a new stake in shares of Textron in the first quarter valued at approximately $200,000. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Textron by 8.2% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 26,532 shares of the aerospace company’s stock worth $2,545,000 after acquiring an additional 2,004 shares during the last quarter. Capstone Investment Advisors LLC grew its position in Textron by 2,597.7% in the 1st quarter. Capstone Investment Advisors LLC now owns 3,480 shares of the aerospace company’s stock worth $334,000 after purchasing an additional 3,351 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S increased its holdings in shares of Textron by 51.7% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 8,840 shares of the aerospace company’s stock worth $848,000 after purchasing an additional 3,011 shares during the period. 86.03% of the stock is owned by institutional investors.

Textron Stock Up 1.6 %

NYSE TXT opened at $83.34 on Wednesday. The stock’s 50 day simple moving average is $86.84 and its 200 day simple moving average is $87.49. 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 cap of $15.46 billion, a PE ratio of 18.32, a price-to-earnings-growth ratio of 1.48 and a beta of 1.24. Textron Inc. has a one year low of $74.13 and a one year high of $97.33.

Textron (NYSE:TXT) last issued its quarterly earnings results on Thursday, October 24th. The aerospace company reported $1.40 earnings per share (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 for the quarter, compared to analyst estimates of $3.50 billion. During the same quarter last year, the company earned $1.49 EPS. The firm’s quarterly revenue was up 2.5% on a year-over-year basis. As a group, sell-side analysts forecast that Textron Inc. will post 5.52 earnings per share for the current fiscal year.

Textron Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Friday, December 13th will be given a dividend of $0.02 per share. The ex-dividend date is Friday, December 13th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.10%. Textron’s payout ratio is currently 1.76%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on TXT shares. Robert W. Baird decreased their target price 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 cut Textron from a “buy” rating to a “hold” rating and lowered their price objective for the company from $103.00 to $95.00 in a research report on Wednesday, September 25th. Morgan Stanley cut Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 target price for the company. in a research report on Thursday, August 8th. JPMorgan Chase & Co. reduced their price objective on shares of Textron from $100.00 to $95.00 and set a “neutral” rating for the company in a report on Monday, October 14th. Finally, Bank of America lifted their price objective on Textron from $105.00 to $110.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Textron has a consensus rating of “Moderate Buy” and a consensus price target 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.