MetLife Investment Management LLC Cuts Holdings in Textron Inc. (NYSE:TXT)

MetLife Investment Management LLC lowered its stake in Textron Inc. (NYSE:TXT) by 4.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,706 shares of the aerospace company’s stock after selling 2,147 shares during the period. MetLife Investment Management LLC’s holdings in Textron were worth $4,314,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in TXT. Lazard Asset Management LLC lifted its stake in Textron by 57.2% in the first quarter. Lazard Asset Management LLC now owns 695 shares of the aerospace company’s stock worth $66,000 after acquiring an additional 253 shares during the last quarter. B. Riley Wealth Advisors Inc. grew its stake in shares of Textron by 17.0% during the first quarter. B. Riley Wealth Advisors Inc. now owns 4,402 shares of the aerospace company’s stock worth $422,000 after purchasing an additional 640 shares in the last quarter. Tidal Investments LLC increased its holdings in Textron by 57.0% in the first quarter. Tidal Investments LLC now owns 10,868 shares of the aerospace company’s stock valued at $1,043,000 after buying an additional 3,946 shares during the last quarter. Atria Investments Inc acquired a new stake in Textron in the first quarter valued at $1,204,000. Finally, Cetera Investment Advisers lifted its holdings in Textron by 579.5% during the 1st quarter. Cetera Investment Advisers now owns 50,684 shares of the aerospace company’s stock worth $4,862,000 after buying an additional 43,225 shares during the last quarter. 86.03% of the stock is owned by institutional investors and hedge funds.

Textron Stock Up 0.6 %

Shares of NYSE:TXT opened at $85.63 on Monday. Textron Inc. has a 1-year low of $74.61 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 stock has a market cap of $15.89 billion, a P/E ratio of 18.82, a P/E/G ratio of 1.54 and a beta of 1.24. The firm has a fifty day moving average price of $85.73 and a 200 day moving average price of $87.12.

Textron (NYSE:TXT) last released its quarterly earnings results 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). The company had revenue of $3.43 billion for 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 quarterly revenue was up 2.5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.49 EPS. Sell-side analysts predict that Textron Inc. will post 5.53 EPS for the current year.

Textron Dividend Announcement

The business 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 annualized dividend 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%.

Analysts Set New Price Targets

A number of research analysts have recently commented on TXT shares. TD Cowen downgraded Textron from a “buy” rating to a “hold” rating and dropped their price objective for the company from $103.00 to $95.00 in a report on Wednesday, September 25th. StockNews.com cut shares of Textron from a “strong-buy” rating to a “buy” rating in a report on Thursday, September 12th. UBS Group reduced their price objective on shares of Textron from $87.00 to $79.00 and set a “sell” rating for the company in a research report on Friday, October 25th. JPMorgan Chase & Co. dropped their target price on shares of Textron from $100.00 to $95.00 and set a “neutral” rating on the stock in a research report on Monday, October 14th. Finally, 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 research report on Thursday, August 8th. 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 stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $101.56.

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.