Glenmede Trust Co. NA Sells 367 Shares of Textron Inc. (NYSE:TXT)

Glenmede Trust Co. NA reduced its position in Textron Inc. (NYSE:TXT) by 2.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,641 shares of the aerospace company’s stock after selling 367 shares during the quarter. Glenmede Trust Co. NA’s holdings in Textron were worth $1,120,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Textron Trading Down 0.2 %

TXT opened at $85.44 on Tuesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.83 and a quick ratio of 0.82. The firm has a market capitalization of $15.85 billion, a price-to-earnings ratio of 18.78, a PEG ratio of 1.54 and a beta of 1.24. The business has a 50 day simple moving average of $85.73 and a two-hundred day simple moving average of $87.11. Textron Inc. has a one year low of $75.70 and a one year high of $97.33.

Textron (NYSE:TXT) last issued its quarterly earnings data on Thursday, October 24th. The aerospace company reported $1.40 EPS for the quarter, missing the consensus estimate of $1.49 by ($0.09). The company had revenue of $3.43 billion during the quarter, compared to analysts’ expectations of $3.50 billion. Textron had a return on equity of 16.02% and a net margin of 6.30%. The business’s quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter last year, the business earned $1.49 earnings per share. Analysts predict that Textron Inc. will post 5.53 EPS for the current year.

Textron Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Friday, December 13th will be paid 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 is Friday, December 13th. Textron’s dividend payout ratio is 1.76%.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Morgan Stanley cut shares of Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 price objective on the stock. in a research report on Thursday, August 8th. Robert W. Baird lowered their price objective 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. TD Cowen lowered shares of Textron from a “buy” rating to a “hold” rating and cut their target price for the stock from $103.00 to $95.00 in a research report on Wednesday, September 25th. UBS Group cut 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. Finally, StockNews.com cut Textron from a “strong-buy” rating to a “buy” rating in a report on Thursday, September 12th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.