Textron Inc. (NYSE:TXT) Shares Sold by Martingale Asset Management L P

Martingale Asset Management L P decreased its position in shares of Textron Inc. (NYSE:TXT) by 11.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 273,284 shares of the aerospace company’s stock after selling 34,632 shares during the quarter. Martingale Asset Management L P owned 0.15% of Textron worth $24,207,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in TXT. Innealta Capital LLC purchased a new position in Textron in the 2nd quarter valued at $25,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Textron in the 2nd quarter valued at about $30,000. Oakworth Capital Inc. acquired a new position in Textron in the 2nd quarter valued at about $31,000. Family Firm Inc. acquired a new position in shares of Textron during the second quarter worth about $40,000. Finally, Capital Performance Advisors LLP acquired a new position in shares of Textron during the third quarter worth about $42,000. Institutional investors and hedge funds own 86.03% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on TXT. StockNews.com cut Textron from a “strong-buy” rating to a “buy” rating in a research note on Thursday, September 12th. UBS Group cut their price target on Textron from $87.00 to $79.00 and set a “sell” rating for the company in a research note on Friday, October 25th. Robert W. Baird cut their price target on Textron from $109.00 to $100.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Morgan Stanley cut Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 price target for the company. in a research note on Thursday, August 8th. Finally, JPMorgan Chase & Co. cut their price target on Textron from $100.00 to $95.00 and set a “neutral” rating for the company in a research note on Monday, October 14th. One equities research 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. According to MarketBeat, Textron has an average rating of “Moderate Buy” and a consensus target price of $101.56.

Textron Stock Down 0.1 %

Textron stock opened at $85.08 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.82 and a current ratio of 1.83. The firm has a market capitalization of $15.78 billion, a price-to-earnings ratio of 18.70, a price-to-earnings-growth ratio of 1.53 and a beta of 1.24. Textron Inc. has a fifty-two week low of $74.13 and a fifty-two week high of $97.33. The stock’s fifty day moving average is $85.85 and its two-hundred day moving average is $87.16.

Textron (NYSE:TXT) last issued its quarterly earnings data on Thursday, October 24th. The aerospace company reported $1.40 earnings per share (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 company had revenue of $3.43 billion during the quarter, compared to analysts’ expectations of $3.50 billion. During the same quarter in the prior year, the company earned $1.49 earnings per share. The firm’s revenue was up 2.5% compared to the same quarter last year. Analysts predict that Textron Inc. will post 5.53 EPS for the current fiscal year.

Textron Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 13th will be given a dividend of $0.02 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.08 annualized dividend and a yield of 0.09%. Textron’s dividend payout ratio (DPR) is presently 1.76%.

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.