Dana Investment Advisors Inc. Has $5.01 Million Stock Position in Textron Inc. (NYSE:TXT)

Dana Investment Advisors Inc. lessened its holdings in Textron Inc. (NYSE:TXT) by 2.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 58,313 shares of the aerospace company’s stock after selling 1,511 shares during the period. Dana Investment Advisors Inc.’s holdings in Textron were worth $5,007,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of TXT. Innealta Capital LLC bought a new position in Textron during the second quarter valued at about $25,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Textron in the 2nd quarter valued at approximately $30,000. Oakworth Capital Inc. acquired a new stake in Textron in the 2nd quarter worth approximately $31,000. Family Firm Inc. bought a new stake in Textron during the second quarter worth approximately $40,000. Finally, Truvestments Capital LLC acquired a new position in Textron during the first quarter valued at approximately $48,000. Institutional investors and hedge funds own 86.03% of the company’s stock.

Textron Stock Down 1.3 %

TXT opened at $87.45 on Wednesday. The company has a market capitalization of $16.38 billion, a P/E ratio of 18.69, a P/E/G ratio of 1.39 and a beta of 1.23. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.79 and a quick ratio of 0.81. The firm’s fifty day moving average price is $88.10 and its two-hundred day moving average price is $89.07. Textron Inc. has a fifty-two week low of $74.13 and a fifty-two week high of $97.33.

Textron (NYSE:TXT) last issued its earnings results on Thursday, July 18th. The aerospace company reported $1.54 earnings per share for the quarter, beating the consensus estimate of $1.48 by $0.06. Textron had a net margin of 6.67% and a return on equity of 16.41%. The business had revenue of $3.53 billion for the quarter, compared to analyst estimates of $3.56 billion. During the same period in the previous year, the business earned $1.46 EPS. The firm’s revenue was up 3.0% on a year-over-year basis. On average, analysts anticipate that Textron Inc. will post 6.18 EPS for the current year.

Textron Announces Dividend

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

Analyst Ratings Changes

A number of research firms have issued reports on TXT. TD Cowen cut shares of Textron from a “buy” rating to a “hold” rating and decreased their price target for the company from $103.00 to $95.00 in a report on Wednesday, September 25th. UBS Group increased their target price on Textron from $84.00 to $87.00 and gave the company a “sell” rating in a research note on Friday, July 19th. Citigroup raised their target price on Textron from $111.00 to $115.00 and gave the company a “buy” rating in a report on Monday, July 22nd. StockNews.com lowered Textron from a “strong-buy” rating to a “buy” rating in a report on Thursday, September 12th. Finally, Morgan Stanley downgraded shares of Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 price target for the company. in a report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus 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.