Textron Inc. (NYSE:TXT) Shares Sold by Pittenger & Anderson Inc.

Pittenger & Anderson Inc. lessened its holdings in shares of Textron Inc. (NYSE:TXT) by 54.9% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,325 shares of the aerospace company’s stock after selling 4,050 shares during the period. Pittenger & Anderson Inc.’s holdings in Textron were worth $295,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Innealta Capital LLC acquired a new position in shares of Textron during the second quarter valued at $25,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in Textron in the 2nd quarter worth approximately $30,000. Oakworth Capital Inc. bought a new stake in Textron during the 2nd quarter valued at $31,000. Family Firm Inc. bought a new position in shares of Textron in the second quarter worth $40,000. Finally, Truvestments Capital LLC acquired a new position in shares of Textron during the first quarter valued at $48,000. Institutional investors own 86.03% of the company’s stock.

Wall Street Analyst Weigh In

TXT has been the topic of a number of research analyst reports. TD Cowen lowered shares of Textron from a “buy” rating to a “hold” rating and lowered their price objective for the company from $103.00 to $95.00 in a research note on Wednesday, September 25th. Bank of America increased their target price on shares of Textron from $105.00 to $110.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Robert W. Baird dropped their price target on Textron from $109.00 to $100.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. StockNews.com lowered Textron from a “strong-buy” rating to a “buy” rating in a research report on Thursday, September 12th. Finally, Morgan Stanley lowered 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. 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’s stock. According to MarketBeat, Textron presently has an average rating of “Moderate Buy” and a consensus target price of $101.56.

Textron Stock Performance

TXT stock opened at $83.34 on Wednesday. The firm has a 50 day simple moving average of $86.84 and a 200 day simple moving average of $87.49. The stock has a market cap of $15.46 billion, a P/E ratio of 18.32, a P/E/G ratio of 1.48 and a beta of 1.24. Textron Inc. has a 52 week low of $74.13 and a 52 week high of $97.33. 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 (NYSE:TXT) last issued its earnings results on Thursday, October 24th. The aerospace company reported $1.40 earnings per share for the quarter, missing the consensus estimate of $1.49 by ($0.09). The firm had revenue of $3.43 billion during the quarter, compared to analyst estimates of $3.50 billion. Textron had a return on equity of 16.02% and a net margin of 6.30%. The business’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.49 earnings per share. Research analysts anticipate that Textron Inc. will post 5.52 earnings per share for the current fiscal year.

Textron Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Friday, December 13th will be paid a dividend of $0.02 per share. The ex-dividend date is Friday, December 13th. This represents a $0.08 annualized dividend and a dividend yield of 0.10%. Textron’s dividend payout ratio (DPR) is 1.76%.

About Textron

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.