Textron Inc. (NYSE:TXT) Shares Sold by Caprock Group LLC

Caprock Group LLC trimmed its position in Textron Inc. (NYSE:TXT) by 3.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,780 shares of the aerospace company’s stock after selling 269 shares during the period. Caprock Group LLC’s holdings in Textron were worth $601,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Innealta Capital LLC acquired a new position in shares of Textron in the second quarter valued at about $25,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Textron during the 2nd quarter worth approximately $30,000. Oakworth Capital Inc. purchased a new stake in shares of Textron in the 2nd quarter valued at $31,000. Family Firm Inc. acquired a new stake in shares of Textron in the second quarter worth $40,000. Finally, Capital Performance Advisors LLP purchased a new position in shares of Textron during the third quarter worth $42,000. Hedge funds and other institutional investors own 86.03% of the company’s stock.

Textron Price Performance

Textron stock opened at $85.37 on Friday. The stock has a market capitalization of $15.84 billion, a P/E ratio of 18.76, a P/E/G ratio of 1.46 and a beta of 1.24. The company’s fifty day moving average price is $86.02 and its 200 day moving average price is $87.21. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.82 and a current ratio of 1.83. Textron Inc. has a 1 year low of $74.13 and a 1 year high of $97.33.

Textron (NYSE:TXT) last announced its earnings results on Thursday, October 24th. The aerospace company reported $1.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.49 by ($0.09). Textron had a net margin of 6.30% and a return on equity of 16.02%. The company had revenue of $3.43 billion during the quarter, compared to analyst estimates of $3.50 billion. During the same quarter last year, the business earned $1.49 EPS. The firm’s revenue for the quarter was up 2.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Textron Inc. will post 5.53 earnings per share for the current fiscal year.

Textron Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Friday, December 13th will be given a $0.02 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.08 annualized dividend and a dividend yield of 0.09%. Textron’s dividend payout ratio (DPR) is presently 1.76%.

Analyst Ratings Changes

TXT has been the topic of several recent research reports. TD Cowen lowered shares of Textron from a “buy” rating to a “hold” rating and lowered their price target for the company from $103.00 to $95.00 in a report on Wednesday, September 25th. Robert W. Baird lowered their target price on Textron from $109.00 to $100.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Morgan Stanley cut Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 price target for the company. in a research report on Thursday, August 8th. UBS Group lowered their price objective on Textron from $87.00 to $79.00 and set a “sell” rating on the stock in a research report on Friday, October 25th. Finally, StockNews.com lowered shares of Textron from a “strong-buy” rating to a “buy” rating in a report on Thursday, September 12th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Textron has a consensus rating of “Moderate Buy” and a consensus price target of $101.56.

Textron Company 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.