Stiles Financial Services Inc Sells 1,404 Shares of Textron Inc. (NYSE:TXT)

Stiles Financial Services Inc lessened its position in Textron Inc. (NYSE:TXT) by 36.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,397 shares of the aerospace company’s stock after selling 1,404 shares during the period. Stiles Financial Services Inc’s holdings in Textron were worth $212,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Boston Partners lifted its position in Textron by 1.4% in the 1st quarter. Boston Partners now owns 7,116,231 shares of the aerospace company’s stock valued at $682,475,000 after acquiring an additional 99,868 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Textron by 6.1% during the second quarter. Dimensional Fund Advisors LP now owns 2,808,600 shares of the aerospace company’s stock valued at $241,152,000 after buying an additional 160,923 shares during the last quarter. Brandes Investment Partners LP increased its holdings in Textron by 20.0% in the 2nd quarter. Brandes Investment Partners LP now owns 1,549,551 shares of the aerospace company’s stock worth $133,096,000 after buying an additional 258,778 shares in the last quarter. AQR Capital Management LLC raised its position in Textron by 18.9% in the 2nd quarter. AQR Capital Management LLC now owns 1,451,293 shares of the aerospace company’s stock worth $124,608,000 after buying an additional 231,173 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Textron by 0.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,398,779 shares of the aerospace company’s stock valued at $120,099,000 after acquiring an additional 6,175 shares during the period. Hedge funds and other institutional investors own 86.03% of the company’s stock.

Wall Street Analysts Forecast Growth

TXT has been the subject of a number of research analyst reports. Citigroup lifted their price target on shares of Textron from $111.00 to $115.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. StockNews.com cut Textron from a “strong-buy” rating to a “buy” rating in a report on Thursday, September 12th. Robert W. Baird cut their price objective on Textron from $109.00 to $100.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Morgan Stanley cut Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 price objective for the company. in a research report on Thursday, August 8th. Finally, TD Cowen cut Textron from a “buy” rating to a “hold” rating and dropped their target price for the stock from $103.00 to $95.00 in a research report on Wednesday, September 25th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $101.56.

Textron Trading Down 0.4 %

Shares of NYSE:TXT opened at $87.56 on Friday. Textron Inc. has a 12-month low of $74.13 and a 12-month high of $97.33. The company has a market cap of $16.24 billion, a PE ratio of 19.24, a price-to-earnings-growth ratio of 1.59 and a beta of 1.24. The stock has a 50 day moving average of $86.56 and a 200 day moving average of $87.39. The company has a current ratio of 1.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.46.

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

Textron Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Friday, December 13th will be issued a dividend of $0.02 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.08 dividend on an annualized basis and a yield of 0.09%. Textron’s dividend payout ratio is presently 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.