Textron Inc. (NYSE:TXT) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lowered its stake in Textron Inc. (NYSE:TXT) by 4.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,352 shares of the aerospace company’s stock after selling 342 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Textron were worth $651,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Innealta Capital LLC acquired a new stake in shares of Textron in the second quarter valued at about $25,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Textron in the second quarter valued at about $30,000. Oakworth Capital Inc. purchased a new position in Textron in the second quarter valued at about $31,000. Family Firm Inc. purchased a new position in Textron in the second quarter valued at about $40,000. Finally, Capital Performance Advisors LLP purchased a new position in Textron in the third quarter valued at about $42,000. Institutional investors and hedge funds own 86.03% of the company’s stock.

Analyst Ratings Changes

TXT has been the subject of a number of analyst reports. Morgan Stanley downgraded Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 price target for the company. in a report on Thursday, August 8th. Robert W. Baird reduced their price target on Textron from $109.00 to $100.00 and set an “outperform” rating for the company in a report on Friday, October 25th. StockNews.com downgraded Textron from a “strong-buy” rating to a “buy” rating in a report on Thursday, September 12th. TD Cowen downgraded Textron from a “buy” rating to a “hold” rating and reduced their target price for the stock from $103.00 to $95.00 in a report on Wednesday, September 25th. Finally, UBS Group reduced their target price on Textron from $87.00 to $79.00 and set a “sell” rating on the stock in a report on Friday, October 25th. One analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $101.56.

Textron Stock Down 0.1 %

TXT opened at $85.06 on Thursday. Textron Inc. has a 12 month low of $75.70 and a 12 month 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 stock has a market cap of $15.78 billion, a P/E ratio of 18.72, a P/E/G ratio of 1.54 and a beta of 1.25. The stock’s 50 day moving average price is $85.67 and its 200 day moving average price is $87.07.

Textron (NYSE:TXT) last posted its earnings results on Thursday, October 24th. The aerospace company reported $1.40 EPS for the quarter, missing the consensus estimate of $1.49 by ($0.09). Textron had a net margin of 6.30% and a return on equity of 16.02%. The business had revenue of $3.43 billion during the quarter, compared to analyst estimates of $3.50 billion. During the same quarter in the prior year, the business earned $1.49 earnings per share. The firm’s revenue was up 2.5% compared to the same quarter last year. As a group, research analysts predict that Textron Inc. will post 5.53 earnings per share for the current year.

Textron Dividend Announcement

The company also recently declared 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. This represents a $0.08 annualized dividend and a dividend yield of 0.09%. The ex-dividend date is Friday, December 13th. Textron’s dividend payout ratio (DPR) is presently 1.76%.

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.