Covestor Ltd Sells 1,502 Shares of Textron Inc. (NYSE:TXT)

Covestor Ltd lessened its holdings in shares of Textron Inc. (NYSE:TXT) by 67.6% during the 3rd quarter, HoldingsChannel reports. The firm owned 719 shares of the aerospace company’s stock after selling 1,502 shares during the period. Covestor Ltd’s holdings in Textron were worth $64,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Atria Investments Inc lifted its holdings in shares of Textron by 2.5% during the 3rd quarter. Atria Investments Inc now owns 12,282 shares of the aerospace company’s stock valued at $1,088,000 after purchasing an additional 299 shares in the last quarter. Easterly Investment Partners LLC lifted its stake in Textron by 87.7% in the 3rd quarter. Easterly Investment Partners LLC now owns 41,305 shares of the aerospace company’s stock valued at $3,659,000 after acquiring an additional 19,304 shares in the last quarter. Capital Performance Advisors LLP bought a new stake in Textron in the 3rd quarter valued at approximately $42,000. Harvest Portfolios Group Inc. lifted its stake in Textron by 28.9% in the 3rd quarter. Harvest Portfolios Group Inc. now owns 12,344 shares of the aerospace company’s stock valued at $1,093,000 after acquiring an additional 2,768 shares in the last quarter. Finally, Radnor Capital Management LLC bought a new stake in Textron in the 3rd quarter valued at approximately $1,302,000. Institutional investors own 86.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on TXT. TD Cowen cut Textron from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $103.00 to $95.00 in a research note on Wednesday, September 25th. JPMorgan Chase & Co. decreased their price objective on shares of Textron from $100.00 to $95.00 and set a “neutral” rating for the company in a research report on Monday, October 14th. StockNews.com cut shares of Textron from a “strong-buy” rating to a “buy” rating in a report on Thursday, September 12th. Citigroup lifted their price target on Textron from $111.00 to $115.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Finally, Robert W. Baird reduced their target price on Textron from $109.00 to $100.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $101.56.

Textron Price Performance

Shares of NYSE TXT opened at $86.10 on Friday. The company has a current ratio of 1.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.46. The business’s 50 day moving average is $86.41 and its 200-day moving average is $87.30. Textron Inc. has a 1-year low of $74.13 and a 1-year high of $97.33. The firm has a market cap of $15.97 billion, a P/E ratio of 18.92, a price-to-earnings-growth ratio of 1.57 and a beta of 1.24.

Textron (NYSE:TXT) last issued its quarterly earnings data on Thursday, October 24th. The aerospace company reported $1.40 earnings per share for the quarter, missing the consensus estimate of $1.49 by ($0.09). Textron had a return on equity of 16.02% and a net margin of 6.30%. The business had revenue of $3.43 billion during the quarter, compared to analyst estimates of $3.50 billion. During the same quarter last year, the firm earned $1.49 EPS. Textron’s revenue for the quarter was up 2.5% compared to the same quarter last year. Equities research analysts predict that Textron Inc. will post 5.52 earnings per share for the current year.

Textron Dividend Announcement

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

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.