Textron Inc. (NYSE:TXT) Shares Sold by State Street Corp

State Street Corp cut its position in shares of Textron Inc. (NYSE:TXT) by 0.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,781,142 shares of the aerospace company’s stock after selling 31,541 shares during the quarter. State Street Corp owned about 4.73% of Textron worth $778,008,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of TXT. Stifel Financial Corp increased its position in Textron by 4.8% during the 3rd quarter. Stifel Financial Corp now owns 148,776 shares of the aerospace company’s stock worth $13,179,000 after purchasing an additional 6,822 shares in the last quarter. Quantinno Capital Management LP increased its position in shares of Textron by 1.3% in the third quarter. Quantinno Capital Management LP now owns 41,278 shares of the aerospace company’s stock worth $3,656,000 after acquiring an additional 539 shares in the last quarter. Quarry LP purchased a new position in shares of Textron in the 3rd quarter valued at $81,000. Redwood Investment Management LLC lifted its holdings in shares of Textron by 4.1% during the 3rd quarter. Redwood Investment Management LLC now owns 16,680 shares of the aerospace company’s stock valued at $1,464,000 after acquiring an additional 655 shares in the last quarter. Finally, Millburn Ridgefield Corp purchased a new stake in Textron during the 3rd quarter worth $92,000. 86.03% of the stock is currently owned by hedge funds and other institutional investors.

Textron Stock Performance

Shares of TXT stock opened at $82.66 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.82 and a current ratio of 1.83. The stock has a market capitalization of $15.33 billion, a price-to-earnings ratio of 18.17, a PEG ratio of 1.53 and a beta of 1.25. Textron Inc. has a one year low of $75.70 and a one year high of $97.33. The company’s 50-day simple moving average is $85.49 and its 200-day simple moving average is $86.97.

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

Textron Announces Dividend

The firm 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 dividend of $0.02 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.08 annualized dividend and a yield of 0.10%. Textron’s payout ratio is 1.76%.

Analysts Set New Price Targets

TXT has been the subject of a number of recent research reports. StockNews.com lowered Textron from a “strong-buy” rating to a “buy” rating in a research note on Thursday, September 12th. Robert W. Baird dropped their price objective on shares of Textron from $109.00 to $100.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. TD Cowen downgraded shares of Textron from a “buy” rating to a “hold” rating and decreased their target price for the company from $103.00 to $95.00 in a research note on Wednesday, September 25th. UBS Group dropped their price target 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. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Textron from $100.00 to $95.00 and set a “neutral” rating for the company in a research report on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average 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.