Textron Inc. (NYSE:TXT) Shares Acquired by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. increased its holdings in shares of Textron Inc. (NYSE:TXT) by 4.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 46,397 shares of the aerospace company’s stock after acquiring an additional 2,124 shares during the period. PNC Financial Services Group Inc.’s holdings in Textron were worth $4,110,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Cetera Investment Advisers lifted its position in shares of Textron by 579.5% in the first quarter. Cetera Investment Advisers now owns 50,684 shares of the aerospace company’s stock valued at $4,862,000 after acquiring an additional 43,225 shares in the last quarter. Virtu Financial LLC grew its stake in shares of Textron by 259.2% in the first quarter. Virtu Financial LLC now owns 17,367 shares of the aerospace company’s stock valued at $1,666,000 after buying an additional 12,532 shares in the last quarter. Easterly Investment Partners LLC grew its stake in shares of Textron by 87.7% in the third quarter. Easterly Investment Partners LLC now owns 41,305 shares of the aerospace company’s stock valued at $3,659,000 after buying an additional 19,304 shares in the last quarter. KBC Group NV acquired a new stake in Textron during the 3rd quarter valued at approximately $1,797,000. Finally, Atria Investments Inc acquired a new stake in Textron during the 1st quarter valued at approximately $1,204,000. Institutional investors and hedge funds own 86.03% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on the company. 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. UBS Group decreased 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. StockNews.com cut Textron from a “strong-buy” rating to a “buy” rating in a research report on Thursday, September 12th. Morgan Stanley cut Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 price objective for the company. in a research report on Thursday, August 8th. Finally, JPMorgan Chase & Co. reduced their price target on Textron from $100.00 to $95.00 and set a “neutral” rating for the company in a research report on Monday, October 14th. 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 company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $101.56.

Textron Trading Up 1.7 %

Shares of TXT opened at $85.38 on Monday. Textron Inc. has a 12-month low of $74.13 and a 12-month high of $97.33. The firm has a market capitalization of $15.84 billion, a price-to-earnings ratio of 18.76, a P/E/G ratio of 1.54 and a beta of 1.24. The stock’s 50-day moving average price is $86.02 and its 200 day moving average price is $87.21. The company has a quick ratio of 0.82, a current ratio of 1.83 and a debt-to-equity ratio of 0.46.

Textron (NYSE:TXT) last announced 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). The business had revenue of $3.43 billion during the quarter, compared to analyst estimates of $3.50 billion. Textron had a return on equity of 16.02% and a net margin of 6.30%. The firm’s revenue was up 2.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.49 earnings per share. As a group, research analysts predict that Textron Inc. will post 5.53 earnings per share for the current year.

Textron Announces Dividend

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