Ferguson Wellman Capital Management Inc. Decreases Stake in Textron Inc. (NYSE:TXT)

Ferguson Wellman Capital Management Inc. trimmed its holdings in shares of Textron Inc. (NYSE:TXT) by 0.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 452,214 shares of the aerospace company’s stock after selling 1,576 shares during the quarter. Ferguson Wellman Capital Management Inc. owned 0.24% of Textron worth $40,057,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Innealta Capital LLC purchased a new stake in Textron during the 2nd quarter worth approximately $25,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in Textron during the 2nd quarter valued at $30,000. Oakworth Capital Inc. acquired a new position in Textron during the 2nd quarter worth $31,000. Family Firm Inc. bought a new stake in shares of Textron in the 2nd quarter worth about $40,000. Finally, Capital Performance Advisors LLP acquired a new stake in shares of Textron in the 3rd quarter valued at about $42,000. Institutional investors and hedge funds own 86.03% of the company’s stock.

Wall Street Analysts Forecast Growth

TXT has been the subject of several recent research reports. Robert W. Baird lowered their target price on shares of Textron from $109.00 to $100.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Bank of America increased their price target on Textron from $105.00 to $110.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. UBS Group reduced their price target on shares of Textron from $87.00 to $79.00 and set a “sell” rating for the company in a report on Friday, October 25th. Citigroup boosted their price objective on Textron from $111.00 to $115.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Finally, TD Cowen lowered Textron from a “buy” rating to a “hold” rating and reduced their price target for the stock from $103.00 to $95.00 in a research report on Wednesday, September 25th. 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. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $101.56.

Textron Trading Up 0.4 %

Shares of NYSE TXT traded up $0.31 during mid-day trading on Thursday, hitting $87.88. 23,371 shares of the company traded hands, compared to its average volume of 1,079,626. The business has a 50 day moving average of $86.43 and a two-hundred day moving average of $87.31. The stock has a market capitalization of $16.30 billion, a price-to-earnings ratio of 19.25, a PEG ratio of 1.57 and a beta of 1.24. Textron Inc. has a 1 year low of $74.13 and a 1 year high of $97.33. 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 released its earnings results 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). The firm had revenue of $3.43 billion during the quarter, compared to analysts’ expectations of $3.50 billion. Textron had a return on equity of 16.02% and a net margin of 6.30%. The business’s revenue was up 2.5% on a year-over-year basis. During the same period last year, the business earned $1.49 earnings per share. On average, sell-side analysts anticipate that Textron Inc. will post 5.52 earnings per share for the current fiscal year.

Textron Dividend Announcement

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

About Textron

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.