Y Intercept Hong Kong Ltd Sells 14,920 Shares of Textron Inc. (NYSE:TXT)

Y Intercept Hong Kong Ltd lessened its holdings in Textron Inc. (NYSE:TXT) by 84.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,660 shares of the aerospace company’s stock after selling 14,920 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Textron were worth $236,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in TXT. MML Investors Services LLC grew its position in Textron by 18.4% during the third quarter. MML Investors Services LLC now owns 26,505 shares of the aerospace company’s stock valued at $2,348,000 after buying an additional 4,110 shares during the period. National Bank of Canada FI grew its position in shares of Textron by 161.8% during the 3rd quarter. National Bank of Canada FI now owns 145,174 shares of the aerospace company’s stock valued at $12,860,000 after acquiring an additional 89,724 shares during the period. iA Global Asset Management Inc. increased its stake in shares of Textron by 17.5% during the 3rd quarter. iA Global Asset Management Inc. now owns 3,577 shares of the aerospace company’s stock worth $317,000 after purchasing an additional 534 shares during the last quarter. EP Wealth Advisors LLC bought a new stake in shares of Textron in the 3rd quarter worth approximately $1,479,000. Finally, Kovitz Investment Group Partners LLC lifted its stake in Textron by 10.2% in the third quarter. Kovitz Investment Group Partners LLC now owns 64,358 shares of the aerospace company’s stock valued at $5,361,000 after purchasing an additional 5,983 shares during the last quarter. 86.03% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. JPMorgan Chase & Co. decreased their target price on Textron from $100.00 to $95.00 and set a “neutral” rating for the company in a research report on Monday, October 14th. TD Cowen downgraded shares of Textron from a “buy” rating to a “hold” rating and dropped their price objective for the company from $103.00 to $95.00 in a report on Wednesday, September 25th. StockNews.com lowered shares of Textron from a “strong-buy” rating to a “buy” rating in a research report on Thursday, September 12th. UBS Group lowered their price target on shares of Textron from $87.00 to $79.00 and set a “sell” rating on the stock in a research report on Friday, October 25th. Finally, Robert W. Baird cut their price objective on shares of Textron from $109.00 to $100.00 and set an “outperform” rating for the company in a report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Textron has a consensus rating of “Moderate Buy” and a consensus target price of $101.56.

Textron Stock Performance

NYSE TXT opened at $76.11 on Thursday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.83 and a quick ratio of 0.82. The stock has a market capitalization of $14.12 billion, a PE ratio of 16.73, a P/E/G ratio of 1.46 and a beta of 1.25. The company’s 50 day simple moving average is $84.55 and its two-hundred day simple moving average is $86.58. Textron Inc. has a 1 year low of $76.03 and a 1 year high of $97.33.

Textron (NYSE:TXT) last released its quarterly earnings data on Thursday, October 24th. The aerospace company reported $1.40 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 business had revenue of $3.43 billion for the quarter, compared to the consensus estimate of $3.50 billion. During the same quarter last year, the business earned $1.49 EPS. Textron’s revenue for the quarter was up 2.5% compared to the same quarter last year. Analysts predict that Textron Inc. will post 5.52 earnings per share for the current fiscal year.

Textron Dividend Announcement

The business also recently declared 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. This represents a $0.08 annualized dividend and a dividend yield of 0.11%. The ex-dividend date of this dividend is Friday, December 13th. Textron’s payout ratio is 1.76%.

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.