BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Sells 5,029 Shares of Textron Inc. (NYSE:TXT)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp trimmed its position in Textron Inc. (NYSE:TXT) by 13.6% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 31,822 shares of the aerospace company’s stock after selling 5,029 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Textron were worth $2,819,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Cetera Investment Advisers increased its position in Textron by 579.5% in the first quarter. Cetera Investment Advisers now owns 50,684 shares of the aerospace company’s stock worth $4,862,000 after purchasing an additional 43,225 shares during the period. QRG Capital Management Inc. raised its stake in shares of Textron by 3.8% during the second quarter. QRG Capital Management Inc. now owns 106,793 shares of the aerospace company’s stock worth $9,169,000 after buying an additional 3,864 shares during the last quarter. Czech National Bank lifted its holdings in Textron by 5.4% in the second quarter. Czech National Bank now owns 36,340 shares of the aerospace company’s stock valued at $3,120,000 after buying an additional 1,853 shares during the period. Dynamic Advisor Solutions LLC boosted its stake in Textron by 12.6% in the second quarter. Dynamic Advisor Solutions LLC now owns 4,235 shares of the aerospace company’s stock valued at $364,000 after acquiring an additional 474 shares during the last quarter. Finally, Strong Tower Advisory Services grew its holdings in Textron by 27.3% during the 2nd quarter. Strong Tower Advisory Services now owns 17,445 shares of the aerospace company’s stock worth $1,498,000 after acquiring an additional 3,740 shares during the period. 86.03% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Textron Stock Down 0.1 %

Shares of TXT stock opened at $85.06 on Thursday. The company has a market capitalization of $15.78 billion, a price-to-earnings ratio of 18.69, a P/E/G ratio of 1.54 and a beta of 1.25. The company has a quick ratio of 0.82, a current ratio of 1.83 and a debt-to-equity ratio of 0.46. Textron Inc. has a 12-month low of $75.70 and a 12-month high of $97.33. The firm has a fifty day moving average of $85.67 and a 200-day moving average of $87.07.

Textron (NYSE:TXT) last issued its quarterly earnings results on Thursday, October 24th. The aerospace company reported $1.40 EPS for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.09). The firm had revenue of $3.43 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter last year, the firm earned $1.49 earnings per share. As a group, equities research analysts predict that Textron Inc. will post 5.53 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 of this dividend is Friday, December 13th. This represents a $0.08 annualized dividend and a dividend yield of 0.09%. Textron’s dividend payout ratio is currently 1.76%.

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.