Lincoln Capital Corp Sells 405 Shares of Textron Inc. (NYSE:TXT)

Lincoln Capital Corp reduced its stake in shares of Textron Inc. (NYSE:TXT) by 1.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,649 shares of the aerospace company’s stock after selling 405 shares during the quarter. Textron accounts for 1.3% of Lincoln Capital Corp’s portfolio, making the stock its 25th largest position. Lincoln Capital Corp’s holdings in Textron were worth $3,158,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC grew its position in Textron by 7.9% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 17,907 shares of the aerospace company’s stock worth $1,718,000 after acquiring an additional 1,316 shares during the last quarter. Capital Asset Advisory Services LLC bought a new stake in shares of Textron during the first quarter worth $286,000. Hennion & Walsh Asset Management Inc. bought a new stake in shares of Textron during the first quarter worth $491,000. Little House Capital LLC acquired a new stake in shares of Textron in the first quarter valued at $735,000. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of Textron by 6.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 151,116 shares of the aerospace company’s stock valued at $14,497,000 after buying an additional 8,611 shares during the last quarter. Institutional investors and hedge funds own 86.03% of the company’s stock.

Textron Stock Up 1.1 %

Shares of Textron stock opened at $82.35 on Friday. The business has a fifty day simple moving average of $87.70 and a 200 day simple moving average of $88.09. The stock has a market cap of $15.43 billion, a PE ratio of 17.45, a price-to-earnings-growth ratio of 1.43 and a beta of 1.23. The company has a quick ratio of 0.81, a current ratio of 1.79 and a debt-to-equity ratio of 0.47. Textron Inc. has a 12 month low of $74.13 and a 12 month high of $97.33.

Textron (NYSE:TXT) last posted 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 $1.46 by ($0.06). The company had revenue of $3.43 billion for the quarter, compared to analyst estimates of $3.50 billion. Textron had a return on equity of 16.41% and a net margin of 6.67%. Textron’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.49 earnings per share. Research analysts predict that Textron Inc. will post 6.1 EPS for the current year.

Textron Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Friday, December 13th will be issued a $0.02 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.08 annualized dividend and a yield of 0.10%. Textron’s dividend payout ratio (DPR) is presently 1.69%.

Analyst Upgrades and Downgrades

TXT has been the topic of a number of research analyst reports. JPMorgan Chase & Co. decreased their price objective on shares of Textron from $100.00 to $95.00 and set a “neutral” rating on the stock in a report on Monday, October 14th. Bank of America raised their price target on shares of Textron from $105.00 to $110.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. UBS Group reduced their price objective on Textron from $87.00 to $79.00 and set a “sell” rating on the stock in a report on Friday. Morgan Stanley lowered Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 price objective on the stock. in a research report on Thursday, August 8th. Finally, StockNews.com downgraded Textron from a “strong-buy” rating to a “buy” rating in a research report on Thursday, September 12th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average 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.