Swiss National Bank Sells 3,600 Shares of Textron Inc. (NYSE:TXT)

Swiss National Bank lessened its holdings in shares of Textron Inc. (NYSE:TXT) by 0.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 565,989 shares of the aerospace company’s stock after selling 3,600 shares during the period. Swiss National Bank owned 0.31% of Textron worth $50,135,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TXT. Innealta Capital LLC bought a new stake in Textron during the second quarter worth about $25,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Textron in the 2nd quarter worth approximately $30,000. Oakworth Capital Inc. purchased a new stake in shares of Textron in the 2nd quarter worth approximately $31,000. Family Firm Inc. bought a new position in Textron during the 2nd quarter valued at approximately $40,000. Finally, Capital Performance Advisors LLP purchased a new position in Textron during the third quarter valued at $42,000. 86.03% of the stock is owned by hedge funds and other institutional investors.

Textron Trading Up 0.7 %

Shares of NYSE:TXT opened at $81.86 on Thursday. The stock’s 50-day simple moving average is $86.13 and its two-hundred day simple moving average is $87.25. The stock has a market capitalization of $15.19 billion, a price-to-earnings ratio of 17.99, a PEG ratio of 1.53 and a beta of 1.24. Textron Inc. has a 52-week low of $74.13 and a 52-week high of $97.33. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.82 and a current ratio of 1.83.

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 business had revenue of $3.43 billion during the quarter, compared to analysts’ expectations of $3.50 billion. During the same period in the previous year, the business posted $1.49 EPS. The business’s quarterly revenue was up 2.5% compared to the same quarter last year. Analysts expect that Textron Inc. will post 5.52 EPS for the current year.

Textron Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Friday, December 13th will be paid a $0.02 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.08 annualized dividend and a dividend yield of 0.10%. Textron’s dividend payout ratio (DPR) is 1.76%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Robert W. Baird reduced their price target on Textron from $109.00 to $100.00 and set an “outperform” rating for the company in a report on Friday, October 25th. TD Cowen downgraded shares of Textron from a “buy” rating to a “hold” rating and dropped their target price for the stock from $103.00 to $95.00 in a research note on Wednesday, September 25th. StockNews.com downgraded shares of Textron from a “strong-buy” rating to a “buy” rating in a research report on Thursday, September 12th. JPMorgan Chase & Co. cut their target price on Textron from $100.00 to $95.00 and set a “neutral” rating on the stock in a research note on Monday, October 14th. Finally, UBS Group reduced their price objective on Textron from $87.00 to $79.00 and set a “sell” rating for the company in a report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Textron has a consensus rating of “Moderate Buy” and a consensus target price of $101.56.

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.