Textron Inc. (NYSE:TXT) Shares Sold by Studio Investment Management LLC

Studio Investment Management LLC lessened its stake in Textron Inc. (NYSE:TXT) by 4.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,395 shares of the aerospace company’s stock after selling 677 shares during the period. Studio Investment Management LLC’s holdings in Textron were worth $1,187,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Empirical Finance LLC grew its position in Textron by 1.7% during the 3rd quarter. Empirical Finance LLC now owns 7,047 shares of the aerospace company’s stock worth $624,000 after purchasing an additional 115 shares during the last quarter. Davis Investment Partners LLC lifted its position in Textron by 0.8% during the 3rd quarter. Davis Investment Partners LLC now owns 14,828 shares of the aerospace company’s stock worth $1,290,000 after acquiring an additional 118 shares during the period. Apollon Wealth Management LLC grew its stake in shares of Textron by 4.9% in the 3rd quarter. Apollon Wealth Management LLC now owns 2,655 shares of the aerospace company’s stock valued at $235,000 after purchasing an additional 125 shares during the last quarter. Altman Advisors Inc. increased its holdings in shares of Textron by 0.6% in the second quarter. Altman Advisors Inc. now owns 22,057 shares of the aerospace company’s stock valued at $1,894,000 after purchasing an additional 129 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of Textron by 0.8% during the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 18,148 shares of the aerospace company’s stock worth $1,558,000 after purchasing an additional 146 shares during the period. Hedge funds and other institutional investors own 86.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on TXT shares. Robert W. Baird cut their price objective on shares of Textron from $109.00 to $100.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Morgan Stanley cut shares of Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 price target for the company. in a report on Thursday, August 8th. TD Cowen lowered Textron from a “buy” rating to a “hold” rating and lowered their price objective for the company from $103.00 to $95.00 in a report on Wednesday, September 25th. UBS Group cut 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. Finally, JPMorgan Chase & Co. decreased their price target on Textron from $100.00 to $95.00 and set a “neutral” rating on the stock in a research note on Monday, October 14th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Textron currently has a consensus rating of “Moderate Buy” and a consensus price target of $101.56.

Textron Trading Up 2.6 %

Shares of TXT opened at $83.96 on Friday. Textron Inc. has a 1-year low of $74.13 and a 1-year high of $97.33. 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 firm has a 50 day simple moving average of $86.07 and a 200-day simple moving average of $87.22. The stock has a market cap of $15.58 billion, a price-to-earnings ratio of 18.45, a price-to-earnings-growth ratio of 1.46 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 (EPS) for the quarter, missing the consensus estimate of $1.49 by ($0.09). The company had revenue of $3.43 billion during the quarter, compared to analysts’ expectations of $3.50 billion. Textron had a net margin of 6.30% and a return on equity of 16.02%. The firm’s revenue was up 2.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.49 earnings per share. Equities analysts forecast that Textron Inc. will post 5.53 EPS for the current fiscal year.

Textron Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Friday, December 13th will be given a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.10%. The ex-dividend date of this dividend is Friday, December 13th. Textron’s dividend payout ratio 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.