First Trust Advisors LP Decreases Position in Textron Inc. (NYSE:TXT)

First Trust Advisors LP cut its position in Textron Inc. (NYSE:TXT) by 13.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 368,760 shares of the aerospace company’s stock after selling 59,739 shares during the period. First Trust Advisors LP owned approximately 0.16% of Textron worth $18,054,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Janus Henderson Group PLC raised its holdings in Textron by 44.5% in the second quarter. Janus Henderson Group PLC now owns 545,839 shares of the aerospace company’s stock worth $28,950,000 after buying an additional 168,171 shares during the last quarter. Gamco Investors INC. ET AL raised its holdings in shares of Textron by 3.7% during the second quarter. Gamco Investors INC. ET AL now owns 2,560,352 shares of the aerospace company’s stock valued at $135,801,000 after purchasing an additional 92,426 shares during the last quarter. Oakbrook Investments LLC purchased a new position in shares of Textron during the second quarter valued at approximately $615,000. Carroll Financial Associates Inc. purchased a new position in shares of Textron during the second quarter valued at approximately $196,000. Finally, Aviva PLC raised its holdings in shares of Textron by 8.8% during the second quarter. Aviva PLC now owns 5,300 shares of the aerospace company’s stock valued at $281,000 after purchasing an additional 430 shares during the last quarter. 82.83% of the stock is owned by institutional investors and hedge funds.

Textron stock opened at $47.06 on Friday. The company has a market cap of $10.56 billion, a price-to-earnings ratio of 14.09, a PEG ratio of 1.36 and a beta of 1.73. The firm’s fifty day moving average is $47.53 and its 200 day moving average is $48.80. The company has a quick ratio of 0.97, a current ratio of 2.15 and a debt-to-equity ratio of 0.66. Textron Inc. has a 52-week low of $42.30 and a 52-week high of $58.00.

Textron (NYSE:TXT) last posted its quarterly earnings results on Thursday, October 17th. The aerospace company reported $0.95 EPS for the quarter, topping the Zacks’ consensus estimate of $0.85 by $0.10. The firm had revenue of $3.26 billion for the quarter, compared to analysts’ expectations of $3.31 billion. Textron had a net margin of 6.46% and a return on equity of 16.88%. The business’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.61 earnings per share. On average, equities research analysts anticipate that Textron Inc. will post 3.73 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Friday, December 13th will be issued a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.17%. The ex-dividend date is Thursday, December 12th. Textron’s payout ratio is presently 2.40%.

Several research analysts have recently weighed in on TXT shares. Credit Suisse Group decreased their price objective on shares of Textron from $52.00 to $50.00 and set a “neutral” rating for the company in a report on Friday, October 18th. Bank of America lowered shares of Textron from a “buy” rating to a “neutral” rating in a research report on Tuesday, October 22nd. Vertical Research lowered shares of Textron from a “buy” rating to a “hold” rating and cut their target price for the company from $56.00 to $54.00 in a research report on Friday, September 27th. Cowen restated a “buy” rating and set a $60.00 target price on shares of Textron in a research report on Thursday, October 17th. Finally, Zacks Investment Research lowered shares of Textron from a “hold” rating to a “strong sell” rating and set a $50.00 price target for the company. in a research report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $54.25.

About Textron

Textron Inc operates in the aircraft, defense, industrial, and finance businesses worldwide. The company's Textron Aviation segment manufactures and sells business jets, turboprop and piston engine aircraft, and military trainer and defense aircraft; and commercial parts, as well as provides maintenance, inspection, and repair services.

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Institutional Ownership by Quarter for Textron (NYSE:TXT)

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