Gulf International Bank UK Ltd Has $1.20 Million Holdings in Textron Inc. (NYSE:TXT)

Gulf International Bank UK Ltd decreased its position in Textron Inc. (NYSE:TXT) by 5.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,530 shares of the aerospace company’s stock after selling 802 shares during the period. Gulf International Bank UK Ltd’s holdings in Textron were worth $1,198,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Norden Group LLC acquired a new position in shares of Textron in the 1st quarter valued at about $220,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in Textron by 8.2% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 26,532 shares of the aerospace company’s stock valued at $2,545,000 after buying an additional 2,004 shares during the period. Empirical Finance LLC boosted its holdings in shares of Textron by 3.2% during the 1st quarter. Empirical Finance LLC now owns 7,612 shares of the aerospace company’s stock worth $730,000 after buying an additional 235 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its position in shares of Textron by 263.6% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 13,369 shares of the aerospace company’s stock worth $1,283,000 after buying an additional 9,692 shares during the period. Finally, Empowered Funds LLC bought a new stake in shares of Textron in the 1st quarter valued at $916,000. Institutional investors own 86.03% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on TXT shares. JPMorgan Chase & Co. cut their target price on shares of Textron from $100.00 to $95.00 and set a “neutral” rating on the stock in a research note on Monday, October 14th. StockNews.com downgraded Textron from a “strong-buy” rating to a “buy” rating in a research note on Thursday, September 12th. Morgan Stanley downgraded Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 price target on the stock. in a research note on Thursday, August 8th. Citigroup raised their price objective on Textron from $111.00 to $115.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Finally, TD Cowen lowered Textron from a “buy” rating to a “hold” rating and lowered their target price for the stock from $103.00 to $95.00 in a research report on Wednesday, September 25th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $101.56.

Textron Stock Down 0.4 %

Shares of NYSE:TXT opened at $87.56 on Friday. The business’s 50 day moving average is $86.56 and its 200 day moving average is $87.39. Textron Inc. has a 12-month low of $74.13 and a 12-month high of $97.33. The stock has a market cap of $16.24 billion, a price-to-earnings ratio of 19.24, a PEG ratio of 1.59 and a beta of 1.24. The company has a quick ratio of 0.82, a current ratio of 1.83 and a debt-to-equity ratio of 0.46.

Textron (NYSE:TXT) last posted 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). Textron had a return on equity of 16.02% and a net margin of 6.30%. The firm had revenue of $3.43 billion for the quarter, compared to analysts’ expectations of $3.50 billion. During the same period in the prior year, the firm earned $1.49 earnings per share. Textron’s revenue was up 2.5% compared to the same quarter last year. On average, sell-side 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 dividend of $0.02 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.08 annualized dividend and a dividend yield of 0.09%. Textron’s dividend payout ratio is currently 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.