Textron Inc. $TXT Holdings Cut by D.A. Davidson & CO.

Key Points

• D.A. Davidson cut its Textron stake by 76.5% in the third quarter, selling 13,721 shares and ending the period with 4,221 shares valued at about $322,000.
• Textron reported quarterly EPS of $1.76, beating the $1.43 consensus, while revenue of $3.75 billion slightly missed estimates but rose 4.1% year over year.
• Analysts maintain a consensus Hold rating with a $101.09 price target; institutional investors collectively own 86.03% of the stock.

D.A. Davidson & CO. cut its position in shares of Textron Inc. (NYSE:TXT - Free Report) by 76.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,221 shares of the aerospace company's stock after selling 13,721 shares during the period. D.A. Davidson & CO.'s holdings in Textron were worth $322,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of TXT. Pinnacle Wealth Planning Services Inc. raised its position in Textron by 126.5% in the third quarter. Pinnacle Wealth Planning Services Inc. now owns 3,268 shares of the aerospace company's stock valued at $249,000 after purchasing an additional 1,825 shares during the period. Oppenheimer & Co. Inc. increased its position in shares of Textron by 1.6% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 23,315 shares of the aerospace company's stock worth $1,777,000 after purchasing an additional 376 shares during the last quarter. Park Avenue Securities LLC raised its holdings in Textron by 5.6% in the 3rd quarter. Park Avenue Securities LLC now owns 5,070 shares of the aerospace company's stock valued at $386,000 after buying an additional 267 shares during the period. Viewpoint Investment Partners Corp purchased a new stake in Textron in the 3rd quarter valued at about $282,000. Finally, V Square Quantitative Management LLC raised its holdings in Textron by 39.3% in the 3rd quarter. V Square Quantitative Management LLC now owns 4,707 shares of the aerospace company's stock valued at $359,000 after buying an additional 1,329 shares during the period. 86.03% of the stock is owned by hedge funds and other institutional investors.

Textron Stock Down 1.8%

Shares of NYSE TXT opened at $83.66 on Friday. The stock has a market cap of $14.17 billion, a P/E ratio of 15.07, a PEG ratio of 1.12 and a beta of 0.88. The company has a current ratio of 1.80, a quick ratio of 0.82 and a debt-to-equity ratio of 0.42. Textron Inc. has a 12-month low of $71.87 and a 12-month high of $101.57. The business's fifty day simple moving average is $78.96 and its 200-day simple moving average is $88.14.

Textron (NYSE:TXT - Get Free Report) last released its earnings results on Thursday, October 29th. The aerospace company reported $1.76 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.43 by $0.33. Textron had a return on equity of 14.34% and a net margin of 6.30%. The firm had revenue of $3.75 billion during the quarter, compared to analyst estimates of $3.77 billion. During the same period last year, the business posted $1.55 earnings per share. Textron's revenue was up 4.1% compared to the same quarter last year. As a group, equities analysts predict that Textron Inc. will post 6.63 EPS for the current fiscal year.

Textron Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 1st. Investors of record on Friday, December 11th will be paid a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date is Friday, December 11th. Textron's dividend payout ratio is presently 1.44%.

Wall Street Analyst Weigh In

TXT has been the subject of several research analyst reports. UBS Group increased their target price on shares of Textron from $86.00 to $94.00 and gave the stock a "neutral" rating in a research note on Friday, October 30th. Weiss Ratings downgraded shares of Textron from a "hold (c+)" rating to a "hold (c)" rating in a research note on Tuesday, October 27th. TD Cowen reduced their price target on shares of Textron from $105.00 to $100.00 and set a "buy" rating on the stock in a research note on Friday, October 9th. Morgan Stanley upped their price objective on shares of Textron from $86.00 to $95.00 and gave the stock an "equal weight" rating in a report on Monday, November 2nd. Finally, Citigroup increased their price objective on shares of Textron from $86.00 to $97.00 and gave the stock a "neutral" rating in a research report on Monday, November 2nd. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and eight have assigned a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $101.09.

Textron Profile

Textron Inc is a diversified industrial and aerospace company whose businesses design, manufacture and support products for commercial, government and consumer markets. Its operations include aviation, defense and industrial products, with customers in the United States and internationally.

Through Textron Aviation, the company produces Cessna and Beechcraft aircraft, including business jets, turboprops and piston-engine aircraft, and provides related maintenance and support services. Its Bell business makes military and commercial helicopters and tiltrotor aircraft, while Textron Systems develops defense and aerospace products such as unmanned aircraft and other mission systems.

Textron's industrial businesses make products that include specialty vehicles, golf cars, outdoor power equipment and components.

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