Textron Inc. (NYSE:TXT) Shares Sold by Toronto Dominion Bank

Toronto Dominion Bank cut its holdings in shares of Textron Inc. (NYSE:TXT) by 15.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 93,140 shares of the aerospace company’s stock after selling 17,471 shares during the quarter. Toronto Dominion Bank’s holdings in Textron were worth $7,997,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Innealta Capital LLC purchased a new position in shares of Textron during the second quarter worth $25,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Textron during the 2nd quarter valued at about $30,000. Oakworth Capital Inc. acquired a new position in shares of Textron in the 2nd quarter valued at about $31,000. Family Firm Inc. purchased a new stake in shares of Textron in the second quarter worth about $40,000. Finally, Jones Financial Companies Lllp grew its holdings in Textron by 200.0% during the fourth quarter. Jones Financial Companies Lllp now owns 507 shares of the aerospace company’s stock worth $41,000 after acquiring an additional 338 shares during the period. 86.03% of the stock is currently owned by institutional investors and hedge funds.

Textron Stock Up 1.4 %

Shares of NYSE TXT opened at $87.75 on Friday. The firm has a market cap of $16.44 billion, a price-to-earnings ratio of 18.75, a price-to-earnings-growth ratio of 1.38 and a beta of 1.23. The company’s 50-day simple moving average is $88.26 and its 200-day simple moving average is $89.15. The company has a quick ratio of 0.81, a current ratio of 1.79 and a debt-to-equity ratio of 0.47. Textron Inc. has a 52-week low of $74.13 and a 52-week high of $97.33.

Textron (NYSE:TXT) last posted its quarterly earnings data on Thursday, July 18th. The aerospace company reported $1.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.48 by $0.06. Textron had a return on equity of 16.41% and a net margin of 6.67%. The company had revenue of $3.53 billion for the quarter, compared to analysts’ expectations of $3.56 billion. During the same period in the previous year, the firm posted $1.46 EPS. Textron’s revenue was up 3.0% compared to the same quarter last year. Equities analysts predict that Textron Inc. will post 6.26 EPS for the current fiscal year.

Textron Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be paid a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.09%. The ex-dividend date is Friday, September 13th. Textron’s dividend payout ratio is currently 1.71%.

Wall Street Analyst Weigh In

TXT has been the subject of a number of analyst reports. Bank of America boosted their price target on Textron from $105.00 to $110.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Morgan Stanley cut shares of Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 target price for the company. in a research note on Thursday, August 8th. Citigroup raised their price target on shares of Textron from $111.00 to $115.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. UBS Group upped their price objective on shares of Textron from $84.00 to $87.00 and gave the stock a “sell” rating in a research report on Friday, July 19th. Finally, StockNews.com cut Textron from a “strong-buy” rating to a “buy” rating in a research report on Thursday, September 12th. One analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $101.50.

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.