Capital Market Strategies LLC Sells 1,710 Shares of Textron Inc. (NYSE:TXT)

Capital Market Strategies LLC trimmed its holdings in shares of Textron Inc. (NYSE:TXT) by 22.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,863 shares of the aerospace company’s stock after selling 1,710 shares during the quarter. Capital Market Strategies LLC’s holdings in Textron were worth $448,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. True Wealth Design LLC bought a new stake in shares of Textron during the 3rd quarter worth about $26,000. Capital Performance Advisors LLP acquired a new position in Textron during the third quarter valued at approximately $42,000. Truvestments Capital LLC bought a new position in shares of Textron in the third quarter valued at approximately $43,000. Venturi Wealth Management LLC lifted its stake in shares of Textron by 69.5% in the third quarter. Venturi Wealth Management LLC now owns 566 shares of the aerospace company’s stock worth $50,000 after buying an additional 232 shares during the last quarter. Finally, Quarry LP acquired a new position in Textron in the 3rd quarter valued at $81,000. 86.03% of the stock is currently owned by institutional investors.

Textron Price Performance

Shares of TXT traded up $0.27 during mid-day trading on Monday, reaching $76.00. The company had a trading volume of 501,243 shares, compared to its average volume of 941,242. The company’s 50-day moving average is $82.01 and its 200-day moving average is $85.78. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.83 and a quick ratio of 0.82. The company has a market capitalization of $14.10 billion, a P/E ratio of 16.70, a P/E/G ratio of 1.46 and a beta of 1.27. Textron Inc. has a twelve month low of $75.09 and a twelve month high of $97.33.

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 analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $3.50 billion. During the same period in the previous year, the business posted $1.49 earnings per share. The firm’s revenue was up 2.5% compared to the same quarter last year. On average, equities analysts anticipate that Textron Inc. will post 5.52 EPS for the current year.

Textron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 1st. Shareholders of record on Friday, December 13th were paid a dividend of $0.02 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.08 annualized dividend and a yield of 0.11%. Textron’s dividend payout ratio is 1.76%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on TXT shares. TD Cowen raised shares of Textron to a “hold” rating in a research report on Thursday, December 19th. UBS Group decreased their target price on Textron from $87.00 to $79.00 and set a “sell” rating for the company in a research note on Friday, October 25th. Vertical Research raised Textron from a “hold” rating to a “buy” rating and set a $91.00 price target on the stock in a research report on Monday. JPMorgan Chase & Co. reduced their price objective on Textron from $100.00 to $95.00 and set a “neutral” rating for the company in a research report on Monday, October 14th. Finally, Barclays cut their target price on shares of Textron from $104.00 to $95.00 and set an “overweight” rating for the company in a research note on Monday, December 23rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Textron has a consensus rating of “Moderate Buy” and an average price target of $100.00.

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.