Clarius Group LLC Sells 131 Shares of Textron Inc. (NYSE:TXT)

Clarius Group LLC reduced its stake in Textron Inc. (NYSE:TXT) by 4.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,568 shares of the aerospace company’s stock after selling 131 shares during the quarter. Clarius Group LLC’s holdings in Textron were worth $228,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Wedge Capital Management L L P NC bought a new stake in Textron in the second quarter worth $64,319,000. Ferguson Wellman Capital Management Inc. bought a new position in Textron in the 1st quarter worth about $45,932,000. Canada Pension Plan Investment Board grew its position in Textron by 1,611.9% during the 1st quarter. Canada Pension Plan Investment Board now owns 433,100 shares of the aerospace company’s stock valued at $41,547,000 after purchasing an additional 407,800 shares during the last quarter. LSV Asset Management grew its position in Textron by 6.9% during the 1st quarter. LSV Asset Management now owns 4,053,050 shares of the aerospace company’s stock valued at $388,809,000 after purchasing an additional 260,003 shares during the last quarter. Finally, Brandes Investment Partners LP raised its holdings in Textron by 20.0% in the second quarter. Brandes Investment Partners LP now owns 1,549,551 shares of the aerospace company’s stock worth $133,096,000 after buying an additional 258,778 shares during the last quarter. Hedge funds and other institutional investors own 86.03% of the company’s stock.

Wall Street Analyst Weigh In

TXT has been the topic of a number of recent analyst reports. UBS Group increased their price target on shares of Textron from $84.00 to $87.00 and gave the company a “sell” rating in a report on Friday, July 19th. Bank of America lifted their target price on Textron from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. TD Cowen downgraded Textron from a “buy” rating to a “hold” rating and lowered their price target for the company from $103.00 to $95.00 in a report on Wednesday, September 25th. StockNews.com downgraded Textron from a “strong-buy” rating to a “buy” rating in a report on Thursday, September 12th. Finally, Morgan Stanley lowered Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 target price for the company. in a research report on Thursday, August 8th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Textron presently has a consensus rating of “Hold” and a consensus target price of $101.50.

Textron Stock Up 1.9 %

TXT stock opened at $87.96 on Friday. The company has a market cap of $16.48 billion, a price-to-earnings ratio of 18.64, a P/E/G ratio of 1.40 and a beta of 1.23. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.81 and a current ratio of 1.79. The business’s 50-day moving average is $87.37 and its two-hundred day moving average is $88.63. Textron Inc. has a fifty-two week low of $74.13 and a fifty-two week high of $97.33.

Textron (NYSE:TXT) last issued its quarterly earnings data on Thursday, July 18th. The aerospace company reported $1.54 earnings per share for the quarter, topping the consensus estimate of $1.48 by $0.06. The firm had revenue of $3.53 billion for the quarter, compared to analysts’ expectations of $3.56 billion. Textron had a net margin of 6.67% and a return on equity of 16.41%. The business’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.46 EPS. As a group, analysts forecast that Textron Inc. will post 6.15 earnings per share for the current year.

Textron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were given 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 was Friday, September 13th. Textron’s payout ratio is 1.69%.

Textron Company 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.