Textron Inc. (NYSE:TXT) Shares Sold by Raymond James & Associates

Raymond James & Associates cut its position in Textron Inc. (NYSE:TXT) by 2.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 204,763 shares of the aerospace company’s stock after selling 6,129 shares during the period. Raymond James & Associates owned approximately 0.11% of Textron worth $18,138,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC raised its position in Textron by 7.9% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 17,907 shares of the aerospace company’s stock worth $1,718,000 after buying an additional 1,316 shares during the last quarter. Capital Asset Advisory Services LLC purchased a new position in shares of Textron during the first quarter worth $286,000. Hennion & Walsh Asset Management Inc. acquired a new position in Textron during the first quarter valued at $491,000. Little House Capital LLC acquired a new stake in Textron during the 1st quarter worth about $735,000. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of Textron by 6.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 151,116 shares of the aerospace company’s stock valued at $14,497,000 after buying an additional 8,611 shares during the last quarter. 86.03% of the stock is currently owned by hedge funds and other institutional investors.

Textron Stock Up 1.1 %

TXT opened at $82.35 on Friday. Textron Inc. has a twelve month low of $74.13 and a twelve month high of $97.33. The company has a 50-day moving average price of $87.70 and a 200 day moving average price of $88.09. The company has a quick ratio of 0.81, a current ratio of 1.79 and a debt-to-equity ratio of 0.47. The company has a market cap of $15.43 billion, a PE ratio of 17.45, a price-to-earnings-growth ratio of 1.43 and a beta of 1.23.

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 analysts’ consensus estimates of $1.46 by ($0.06). Textron had a return on equity of 16.41% and a net margin of 6.67%. The firm had revenue of $3.43 billion during the quarter, compared to analyst estimates of $3.50 billion. During the same period in the prior year, the firm earned $1.49 earnings per share. The business’s revenue was up 2.5% on a year-over-year basis. Sell-side analysts expect that Textron Inc. will post 6.1 earnings per share for the current fiscal year.

Textron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 13th will be paid a dividend of $0.02 per share. The ex-dividend date is Friday, December 13th. This represents a $0.08 annualized dividend and a yield of 0.10%. Textron’s dividend payout ratio is presently 1.69%.

Analyst Ratings Changes

Several research firms recently commented on TXT. JPMorgan Chase & Co. dropped their target price on Textron from $100.00 to $95.00 and set a “neutral” rating on the stock in a report on Monday, October 14th. Bank of America lifted their target price on shares of Textron from $105.00 to $110.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Robert W. Baird lowered their price target on shares of Textron from $109.00 to $100.00 and set an “outperform” rating on the stock in a report on Friday. StockNews.com cut shares of Textron from a “strong-buy” rating to a “buy” rating in a report on Thursday, September 12th. Finally, Citigroup increased 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. One analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $101.56.

Textron Company 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.