D. E. Shaw & Co. Inc. Sells 365,278 Shares of Textron Inc. (NYSE:TXT)

D. E. Shaw & Co. Inc. lessened its stake in Textron Inc. (NYSE:TXT) by 51.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 349,272 shares of the aerospace company’s stock after selling 365,278 shares during the period. D. E. Shaw & Co. Inc. owned 0.18% of Textron worth $29,988,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in TXT. Altman Advisors Inc. raised its stake in shares of Textron by 0.6% during the 2nd quarter. Altman Advisors Inc. now owns 22,057 shares of the aerospace company’s stock worth $1,894,000 after acquiring an additional 129 shares in the last quarter. True Vision MN LLC increased its position in shares of Textron by 2.5% during the first quarter. True Vision MN LLC now owns 5,352 shares of the aerospace company’s stock worth $513,000 after purchasing an additional 133 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of Textron by 0.8% during the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 18,148 shares of the aerospace company’s stock valued at $1,558,000 after purchasing an additional 146 shares during the last quarter. Czech National Bank boosted its position in shares of Textron by 0.5% in the 1st quarter. Czech National Bank now owns 34,487 shares of the aerospace company’s stock worth $3,308,000 after purchasing an additional 157 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. raised its position in shares of Textron by 4.4% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 4,116 shares of the aerospace company’s stock valued at $353,000 after purchasing an additional 175 shares during the last quarter. 86.03% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on TXT. StockNews.com lowered shares of Textron from a “strong-buy” rating to a “buy” rating in a research note on Thursday, September 12th. Morgan Stanley downgraded Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 target price on the stock. in a research report on Thursday, August 8th. UBS Group lifted their price target on Textron from $84.00 to $87.00 and gave the stock a “sell” rating in a research report on Friday, July 19th. TD Cowen lowered Textron from a “buy” rating to a “hold” rating and cut their price objective for the company from $103.00 to $95.00 in a report on Wednesday. Finally, Citigroup raised their price objective on Textron from $111.00 to $115.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $101.50.

Textron Trading Up 1.4 %

Shares of NYSE:TXT opened at $87.75 on Friday. The company has a current ratio of 1.79, a quick ratio of 0.81 and a debt-to-equity ratio of 0.47. Textron Inc. has a 12-month low of $74.13 and a 12-month high of $97.33. The business has a 50 day moving average of $88.26 and a two-hundred day moving average of $89.15. The company has a market capitalization of $16.44 billion, a PE ratio of 18.75, a PEG ratio of 1.38 and a beta of 1.23.

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

Textron Announces Dividend

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

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.