Thrivent Financial for Lutherans Has $661,000 Stake in Textron Inc. (NYSE:TXT)

Thrivent Financial for Lutherans trimmed its stake in shares of Textron Inc. (NYSE:TXT) by 84.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,694 shares of the aerospace company’s stock after selling 41,549 shares during the period. Thrivent Financial for Lutherans’ holdings in Textron were worth $661,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of TXT. Altman Advisors Inc. raised its stake in shares of 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 buying an additional 129 shares during the last quarter. True Vision MN LLC increased its stake in Textron by 2.5% in the first quarter. True Vision MN LLC now owns 5,352 shares of the aerospace company’s stock valued at $513,000 after purchasing an additional 133 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of Textron by 0.8% during the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 18,148 shares of the aerospace company’s stock worth $1,558,000 after acquiring an additional 146 shares in the last quarter. Czech National Bank increased its position in shares of Textron by 0.5% during the first quarter. Czech National Bank now owns 34,487 shares of the aerospace company’s stock worth $3,308,000 after acquiring an additional 157 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. increased its position in shares of Textron by 4.4% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 4,116 shares of the aerospace company’s stock worth $353,000 after acquiring an additional 175 shares in the last quarter. 86.03% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Morgan Stanley cut shares of Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 target price for the company. in a report on Thursday, August 8th. StockNews.com cut shares of Textron from a “strong-buy” rating to a “buy” rating in a research note on Thursday, September 12th. UBS Group raised their target price on shares of Textron from $84.00 to $87.00 and gave the stock a “sell” rating in a research note on Friday, July 19th. Citigroup raised their target price on shares of Textron from $111.00 to $115.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Finally, TD Cowen cut shares of Textron from a “buy” rating to a “hold” rating and cut their target price for the stock from $103.00 to $95.00 in a research note on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Textron currently has an average rating of “Hold” and an average target price of $101.50.

Textron Stock Down 1.1 %

Shares of NYSE TXT opened at $85.78 on Tuesday. The company has a market capitalization of $16.07 billion, a P/E ratio of 18.33, a price-to-earnings-growth ratio of 1.40 and a beta of 1.23. Textron Inc. has a 52-week low of $74.13 and a 52-week high of $97.33. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.81 and a current ratio of 1.79. The company’s 50 day moving average price is $87.71 and its 200-day moving average price is $88.84.

Textron (NYSE:TXT) last issued its quarterly earnings results on Thursday, July 18th. The aerospace company reported $1.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.48 by $0.06. The firm had revenue of $3.53 billion for the quarter, compared to the consensus estimate of $3.56 billion. Textron had a net margin of 6.67% and a return on equity of 16.41%. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.46 EPS. Equities analysts forecast that Textron Inc. will post 6.18 earnings per share for the current year.

Textron Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were given a $0.02 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.09%. Textron’s dividend payout ratio (DPR) is currently 1.71%.

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.