Textron Inc. (NYSE:TXT) Shares Sold by ING Groep NV

ING Groep NV lessened its stake in shares of Textron Inc. (NYSE:TXT) by 2.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,058 shares of the aerospace company’s stock after selling 603 shares during the quarter. ING Groep NV’s holdings in Textron were worth $2,220,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Cetera Investment Advisers lifted its position 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 acquiring an additional 43,225 shares in the last quarter. Virtu Financial LLC raised its stake in Textron by 259.2% during the first quarter. Virtu Financial LLC now owns 17,367 shares of the aerospace company’s stock worth $1,666,000 after acquiring an additional 12,532 shares during the period. Easterly Investment Partners LLC grew its stake in Textron by 87.7% during the 3rd quarter. Easterly Investment Partners LLC now owns 41,305 shares of the aerospace company’s stock worth $3,659,000 after buying an additional 19,304 shares during the last quarter. Atria Investments Inc acquired a new stake in shares of Textron in the first quarter valued at approximately $1,204,000. Finally, Robeco Institutional Asset Management B.V. increased its position in Textron by 13.3% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 495,411 shares of the aerospace company’s stock valued at $43,884,000 after acquiring an additional 57,967 shares during the period. Institutional investors and hedge funds own 86.03% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. StockNews.com cut Textron from a “strong-buy” rating to a “buy” rating in a report on Thursday, September 12th. Citigroup boosted their price target on shares of Textron from $111.00 to $115.00 and gave the company a “buy” rating in a report on Monday, July 22nd. JPMorgan Chase & Co. cut their price objective 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. Bank of America raised their target price on Textron from $105.00 to $110.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Finally, TD Cowen cut shares of Textron from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $103.00 to $95.00 in a research note on Wednesday, September 25th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $101.56.

Textron Stock Down 1.4 %

TXT stock opened at $84.91 on Friday. The business’s 50 day simple moving average is $86.39 and its 200 day simple moving average is $87.31. The company has a current ratio of 1.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $15.75 billion, a PE ratio of 18.66, a PEG ratio of 1.58 and a beta of 1.24. Textron Inc. has a 1-year low of $74.13 and a 1-year high of $97.33.

Textron (NYSE:TXT) last announced 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). The firm had revenue of $3.43 billion for 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 company’s quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.49 earnings per share. As a group, research analysts anticipate that Textron Inc. will post 5.52 EPS for the current year.

Textron Announces Dividend

The business also recently announced 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 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.