Capital Market Strategies LLC Sells 483 Shares of Textron Inc. (NYSE:TXT)

Capital Market Strategies LLC lowered its stake in Textron Inc. (NYSE:TXT) by 6.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,573 shares of the aerospace company’s stock after selling 483 shares during the quarter. Capital Market Strategies LLC’s holdings in Textron were worth $671,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Innealta Capital LLC acquired a new stake in Textron during the 2nd quarter worth approximately $25,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Textron in the second quarter worth $30,000. Oakworth Capital Inc. bought a new stake in shares of Textron in the second quarter worth $31,000. Family Firm Inc. bought a new stake in shares of Textron in the second quarter worth $40,000. Finally, Jones Financial Companies Lllp grew its stake in shares of Textron by 200.0% in the fourth quarter. Jones Financial Companies Lllp now owns 507 shares of the aerospace company’s stock worth $41,000 after purchasing an additional 338 shares during the last quarter. 86.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. TD Cowen cut shares of Textron from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $103.00 to $95.00 in a research note on Wednesday, September 25th. StockNews.com downgraded shares of Textron from a “strong-buy” rating to a “buy” rating in a research report on Thursday, September 12th. Citigroup increased their price objective on shares of Textron from $111.00 to $115.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Morgan Stanley downgraded 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. Finally, UBS Group upped their target price on Textron from $84.00 to $87.00 and gave the company a “sell” rating in a research report on Friday, July 19th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $101.50.

Textron Trading Down 1.0 %

Shares of Textron stock opened at $86.11 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.81 and a current ratio of 1.79. Textron Inc. has a 52 week low of $74.13 and a 52 week high of $97.33. The stock has a 50 day moving average price of $88.04 and a two-hundred day moving average price of $89.05. The stock has a market capitalization of $16.13 billion, a PE ratio of 18.40, a price-to-earnings-growth ratio of 1.39 and a beta of 1.23.

Textron (NYSE:TXT) last announced its quarterly earnings data on Thursday, July 18th. The aerospace company reported $1.54 EPS for the quarter, beating analysts’ consensus estimates of $1.48 by $0.06. Textron had a return on equity of 16.41% and a net margin of 6.67%. The firm had revenue of $3.53 billion during the quarter, compared to analysts’ expectations of $3.56 billion. During the same quarter last year, the firm posted $1.46 earnings per share. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. As a group, equities analysts anticipate that Textron Inc. will post 6.18 earnings per share for the current fiscal year.

Textron Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were paid a $0.02 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.08 dividend on an annualized basis and a yield of 0.09%. Textron’s dividend payout ratio (DPR) is presently 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.