Tidal Investments LLC Has $329,000 Position in Textron Inc. (NYSE:TXT)

Tidal Investments LLC trimmed its stake in Textron Inc. (NYSE:TXT) by 69.8% in the third quarter, HoldingsChannel reports. The firm owned 3,711 shares of the aerospace company’s stock after selling 8,557 shares during the period. Tidal Investments LLC’s holdings in Textron were worth $329,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Bank of New York Mellon Corp raised its stake in Textron by 0.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,398,779 shares of the aerospace company’s stock worth $120,099,000 after buying an additional 6,175 shares during the period. Cambridge Investment Research Advisors Inc. increased its holdings in shares of Textron by 3.6% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 17,477 shares of the aerospace company’s stock valued at $1,501,000 after acquiring an additional 608 shares in the last quarter. Patriot Financial Group Insurance Agency LLC raised its position in shares of Textron by 7.6% during the second quarter. Patriot Financial Group Insurance Agency LLC now owns 3,089 shares of the aerospace company’s stock worth $265,000 after purchasing an additional 217 shares during the period. Burney Co. lifted its holdings in shares of Textron by 14.7% in the 2nd quarter. Burney Co. now owns 12,325 shares of the aerospace company’s stock worth $1,058,000 after purchasing an additional 1,581 shares in the last quarter. Finally, Innealta Capital LLC acquired a new stake in Textron in the 2nd quarter valued at $25,000. Institutional investors and hedge funds own 86.03% of the company’s stock.

Textron Trading Up 1.0 %

Shares of Textron stock opened at $77.24 on Wednesday. The firm has a market cap of $14.33 billion, a PE ratio of 16.98, a P/E/G ratio of 1.46 and a beta of 1.25. Textron Inc. has a 1 year low of $75.36 and a 1 year high of $97.33. 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 stock has a fifty day moving average price of $83.67 and a 200-day moving average price of $86.31.

Textron (NYSE:TXT) last announced 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). Textron had a return on equity of 16.02% and a net margin of 6.30%. The company had revenue of $3.43 billion during the quarter, compared to the consensus estimate of $3.50 billion. During the same period in the prior year, the firm posted $1.49 EPS. The business’s revenue was up 2.5% on a year-over-year basis. Equities research analysts anticipate that Textron Inc. will post 5.52 EPS for the current year.

Textron Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Investors 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 yield of 0.10%. Textron’s payout ratio is 1.76%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on TXT. 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 report on Friday, October 25th. TD Cowen raised shares of Textron to a “hold” rating in a research report on Thursday, December 19th. StockNews.com downgraded Textron from a “strong-buy” rating to a “buy” rating in a research note on Thursday, September 12th. UBS Group lowered their price objective on Textron from $87.00 to $79.00 and set a “sell” rating for the company in a research note on Friday, October 25th. Finally, JPMorgan Chase & Co. decreased their price target on Textron from $100.00 to $95.00 and set a “neutral” rating for the company in a report on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $100.90.

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.