Janus Henderson Group PLC Sells 2,500 Shares of Textron Inc. (NYSE:TXT)

Janus Henderson Group PLC decreased its position in Textron Inc. (NYSE:TXT) by 14.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,557 shares of the aerospace company’s stock after selling 2,500 shares during the quarter. Janus Henderson Group PLC’s holdings in Textron were worth $1,289,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Easterly Investment Partners LLC increased its stake in shares of Textron by 87.7% in the 3rd quarter. Easterly Investment Partners LLC now owns 41,305 shares of the aerospace company’s stock worth $3,659,000 after acquiring an additional 19,304 shares in the last quarter. KBC Group NV purchased a new position in shares of Textron during the third quarter valued at approximately $1,797,000. Robeco Institutional Asset Management B.V. boosted its position in shares of Textron by 13.3% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 495,411 shares of the aerospace company’s stock worth $43,884,000 after purchasing an additional 57,967 shares in the last quarter. Marietta Wealth Management LLC purchased a new stake in shares of Textron in the 2nd quarter worth approximately $2,644,000. Finally, Los Angeles Capital Management LLC increased its position in Textron by 6.6% during the 3rd quarter. Los Angeles Capital Management LLC now owns 279,336 shares of the aerospace company’s stock valued at $24,744,000 after buying an additional 17,346 shares in the last quarter. Hedge funds and other institutional investors own 86.03% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on TXT shares. JPMorgan Chase & Co. dropped their target price on Textron from $100.00 to $95.00 and set a “neutral” rating on the stock in a report on Monday, October 14th. UBS Group cut their price objective on shares of Textron from $87.00 to $79.00 and set a “sell” 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 reduced their price objective for the company from $103.00 to $95.00 in a research note on Wednesday, September 25th. Robert W. Baird dropped their target price on shares of Textron from $109.00 to $100.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Finally, StockNews.com lowered 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 given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $101.56.

Textron Price Performance

Shares of NYSE TXT opened at $80.91 on Friday. Textron Inc. has a 52 week low of $76.98 and a 52 week high of $97.33. The stock has a market capitalization of $15.01 billion, a price-to-earnings ratio of 17.78, a price-to-earnings-growth ratio of 1.48 and a beta of 1.25. The firm has a 50-day simple moving average of $84.94 and a 200-day simple moving average of $86.75. 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 announced its quarterly earnings data on Thursday, October 24th. The aerospace company reported $1.40 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 company had revenue of $3.43 billion for the quarter, compared to analyst estimates of $3.50 billion. During the same period in the prior year, the firm posted $1.49 earnings per share. The business’s quarterly revenue was up 2.5% compared to the same quarter last year. On average, equities analysts predict that Textron Inc. will post 5.52 earnings per share for the current fiscal year.

Textron Dividend Announcement

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

Textron 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.