Baxter Bros Inc. Sells 2,010 Shares of Textron Inc. (NYSE:TXT)

Baxter Bros Inc. reduced its holdings in Textron Inc. (NYSE:TXT) by 4.7% during the 3rd quarter, Holdings Channel reports. The fund owned 40,785 shares of the aerospace company’s stock after selling 2,010 shares during the quarter. Baxter Bros Inc.’s holdings in Textron were worth $3,613,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Davis Investment Partners LLC boosted its holdings in shares of Textron by 0.8% in the 3rd quarter. Davis Investment Partners LLC now owns 14,828 shares of the aerospace company’s stock worth $1,290,000 after acquiring an additional 118 shares in the last quarter. Altman Advisors Inc. boosted its holdings in shares of Textron by 0.6% in the 2nd quarter. Altman Advisors Inc. now owns 22,057 shares of the aerospace company’s stock worth $1,894,000 after acquiring an additional 129 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in shares of Textron by 0.8% in the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 18,148 shares of the aerospace company’s stock worth $1,558,000 after acquiring an additional 146 shares in the last quarter. Creative Planning boosted its holdings in shares of Textron by 0.4% in the 3rd quarter. Creative Planning now owns 37,304 shares of the aerospace company’s stock worth $3,304,000 after acquiring an additional 165 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. lifted its holdings in Textron by 4.4% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 4,116 shares of the aerospace company’s stock worth $353,000 after buying an additional 175 shares in the last quarter. 86.03% of the stock is owned by institutional investors and hedge funds.

Textron Stock Performance

TXT stock opened at $81.46 on Friday. The business’s fifty day moving average is $87.00 and its 200-day moving average is $87.64. The company has a quick ratio of 0.82, a current ratio of 1.83 and a debt-to-equity ratio of 0.46. The company has a market cap of $15.11 billion, a P/E ratio of 17.90, a price-to-earnings-growth ratio of 1.45 and a beta of 1.24. Textron Inc. has a twelve month low of $74.13 and a twelve month high of $97.33.

Textron (NYSE:TXT) last posted its quarterly earnings results on Thursday, October 24th. The aerospace company reported $1.40 earnings per share for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.09). The company had revenue of $3.43 billion during the quarter, compared to analyst estimates of $3.50 billion. Textron had a net margin of 6.30% and a return on equity of 16.02%. The business’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period last year, the company earned $1.49 EPS. Equities research analysts forecast that Textron Inc. will post 5.52 EPS for the current year.

Textron Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 13th will be given a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.10%. The ex-dividend date is Friday, December 13th. Textron’s dividend payout ratio is currently 1.76%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. StockNews.com downgraded Textron from a “strong-buy” rating to a “buy” rating in a report on Thursday, September 12th. 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, October 25th. JPMorgan Chase & Co. reduced their price objective on 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 upped their price objective on Textron from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Finally, Robert W. Baird reduced their price objective on Textron from $109.00 to $100.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Textron has an average rating of “Moderate Buy” and an average price target of $101.56.

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.