SG Americas Securities LLC Sells 21,515 Shares of Textron Inc. (NYSE:TXT)

SG Americas Securities LLC reduced its position in shares of Textron Inc. (NYSE:TXT) by 87.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,099 shares of the aerospace company’s stock after selling 21,515 shares during the quarter. SG Americas Securities LLC’s holdings in Textron were worth $275,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TXT. Altman Advisors Inc. raised its position in shares of Textron by 0.6% in the second quarter. Altman Advisors Inc. now owns 22,057 shares of the aerospace company’s stock valued at $1,894,000 after purchasing an additional 129 shares during the period. True Vision MN LLC grew its stake in shares of 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 acquiring an additional 133 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of Textron by 0.8% in the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 18,148 shares of the aerospace company’s stock valued at $1,558,000 after acquiring an additional 146 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its stake in shares of Textron by 4.4% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 4,116 shares of the aerospace company’s stock valued at $353,000 after acquiring an additional 175 shares in the last quarter. Finally, Wright Investors Service Inc. grew its stake in shares of Textron by 1.8% in the first quarter. Wright Investors Service Inc. now owns 10,189 shares of the aerospace company’s stock valued at $977,000 after acquiring an additional 184 shares in the last quarter. 86.03% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on TXT. TD Cowen downgraded shares of Textron from a “buy” rating to a “hold” rating and decreased their price target for the company from $103.00 to $95.00 in a research note on Wednesday, September 25th. Morgan Stanley downgraded shares of Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 price target on the stock. in a research note 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 on the stock in a research note on Monday, October 14th. Citigroup increased their price objective 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, StockNews.com downgraded shares of Textron from a “strong-buy” rating to a “buy” rating in a research note on Thursday, September 12th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $102.75.

Textron Stock Down 0.3 %

TXT stock opened at $90.05 on Monday. The stock has a market capitalization of $16.87 billion, a P/E ratio of 19.08, a price-to-earnings-growth ratio of 1.47 and a beta of 1.23. The company has a current ratio of 1.79, a quick ratio of 0.81 and a debt-to-equity ratio of 0.47. Textron Inc. has a 12 month low of $74.13 and a 12 month high of $97.33. The firm has a 50-day moving average price of $87.80 and a 200-day moving average price of $88.39.

Textron (NYSE:TXT) last posted its earnings results on Thursday, July 18th. The aerospace company reported $1.54 EPS for the quarter, topping analysts’ consensus estimates of $1.48 by $0.06. The firm had revenue of $3.53 billion during the quarter, compared to analysts’ expectations of $3.56 billion. Textron had a net margin of 6.67% and a return on equity of 16.41%. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.46 earnings per share. As a group, equities research analysts anticipate that Textron Inc. will post 6.1 EPS for the current fiscal year.

Textron Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were issued 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 1.69%.

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.