Synovus Financial Corp decreased its position in shares of Textron Inc. (NYSE:TXT – Free Report) by 5.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,698 shares of the aerospace company’s stock after selling 472 shares during the period. Synovus Financial Corp’s holdings in Textron were worth $682,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of TXT. Neo Ivy Capital Management bought a new position in Textron during the third quarter worth about $122,000. M&T Bank Corp increased its holdings in shares of Textron by 2.3% during the third quarter. M&T Bank Corp now owns 17,101 shares of the aerospace company’s stock worth $1,514,000 after purchasing an additional 382 shares during the period. Groupama Asset Managment bought a new position in shares of Textron during the third quarter worth approximately $742,000. Nomura Asset Management Co. Ltd. boosted its stake in shares of Textron by 1.6% in the third quarter. Nomura Asset Management Co. Ltd. now owns 55,845 shares of the aerospace company’s stock valued at $4,947,000 after buying an additional 871 shares during the period. Finally, MML Investors Services LLC grew its position in Textron by 18.4% during the third quarter. MML Investors Services LLC now owns 26,505 shares of the aerospace company’s stock worth $2,348,000 after buying an additional 4,110 shares in the last quarter. Institutional investors and hedge funds own 86.03% of the company’s stock.
Analysts Set New Price Targets
Several equities analysts have weighed in on TXT shares. StockNews.com cut Textron from a “strong-buy” rating to a “buy” rating in a report on Thursday, September 12th. TD Cowen cut shares of Textron from a “buy” rating to a “hold” rating and cut their price objective for the stock from $103.00 to $95.00 in a research report on Wednesday, September 25th. UBS Group decreased their target price on shares of Textron from $87.00 to $79.00 and set a “sell” rating on the stock in a report on Friday, October 25th. JPMorgan Chase & Co. cut their price target on shares of Textron from $100.00 to $95.00 and set a “neutral” rating for the company in a report on Monday, October 14th. Finally, Robert W. Baird reduced their price target on shares of Textron from $109.00 to $100.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $101.56.
Textron Trading Down 1.6 %
Shares of Textron stock opened at $80.07 on Wednesday. The firm’s 50 day moving average is $84.76 and its 200 day moving average is $86.66. The firm has a market capitalization of $14.85 billion, a PE ratio of 17.60, a price-to-earnings-growth ratio of 1.46 and a beta of 1.25. Textron Inc. has a 1 year low of $76.98 and a 1 year high of $97.33. The company has a current ratio of 1.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.46.
Textron (NYSE:TXT – Get Free Report) last posted its earnings results on Thursday, October 24th. The aerospace company reported $1.40 earnings per share for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.09). Textron had a return on equity of 16.02% and a net margin of 6.30%. 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 firm posted $1.49 EPS. The business’s quarterly revenue was up 2.5% compared to the same quarter last year. Equities research analysts forecast that Textron Inc. will post 5.52 earnings per share for the current fiscal year.
Textron Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Friday, December 13th will be given a $0.02 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.08 annualized dividend and a yield of 0.10%. Textron’s dividend payout ratio 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.
Further Reading
- Five stocks we like better than Textron
- What Does a Gap Up Mean in Stocks? How to Play the Gap
- AppLovin Insiders Sell Shares: Stock Price Indicated Higher
- Insider Selling Explained: Can it Inform Your Investing Choices?
- Broadcom’s Stellar Outlook Sparks Hopes for a Semi Sector Rally
- What is Insider Trading? What You Can Learn from Insider Trading
- Salesforce’s Clear Path to $400 and Beyond
Want to see what other hedge funds are holding TXT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Textron Inc. (NYSE:TXT – Free Report).
Receive News & Ratings for Textron Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Textron and related companies with MarketBeat.com's FREE daily email newsletter.