Capital Market Strategies LLC Has $448,000 Position in Textron Inc. (NYSE:TXT)

Capital Market Strategies LLC cut its holdings in Textron Inc. (NYSE:TXT) by 22.6% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 5,863 shares of the aerospace company’s stock after selling 1,710 shares during the quarter. Capital Market Strategies LLC’s holdings in Textron were worth $448,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Empirical Finance LLC raised its holdings in shares of Textron by 1.7% in the third quarter. Empirical Finance LLC now owns 7,047 shares of the aerospace company’s stock valued at $624,000 after purchasing an additional 115 shares during the last quarter. Davis Investment Partners LLC increased its holdings in Textron by 0.8% during the third quarter. Davis Investment Partners LLC now owns 14,828 shares of the aerospace company’s stock worth $1,290,000 after buying an additional 118 shares during the last quarter. Apollon Wealth Management LLC increased its stake in shares of Textron by 4.9% during the 3rd quarter. Apollon Wealth Management LLC now owns 2,655 shares of the aerospace company’s stock worth $235,000 after purchasing an additional 125 shares during the last quarter. Altman Advisors Inc. raised its stake in Textron by 0.6% in the second quarter. Altman Advisors Inc. now owns 22,057 shares of the aerospace company’s stock valued at $1,894,000 after buying an additional 129 shares during the period. Finally, Creative Planning raised its stake in Textron by 0.4% in the 3rd quarter. Creative Planning now owns 37,304 shares of the aerospace company’s stock valued at $3,304,000 after acquiring an additional 165 shares during the period. 86.03% of the stock is owned by institutional investors.

Textron Trading Up 0.4 %

TXT traded up $0.27 during trading on Monday, hitting $76.00. The company’s stock had a trading volume of 501,243 shares, compared to its average volume of 941,242. The firm has a market capitalization of $14.10 billion, a P/E ratio of 16.70, a PEG ratio of 1.46 and a beta of 1.27. Textron Inc. has a twelve month low of $75.09 and a twelve month high of $97.33. The stock’s fifty day moving average price is $82.01 and its 200-day moving average price is $85.78. 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 (NYSE:TXT) last issued 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 $1.49 by ($0.09). Textron had a return on equity of 16.02% and a net margin of 6.30%. The company had revenue of $3.43 billion for the quarter, compared to the consensus estimate of $3.50 billion. During the same period in the prior year, the company earned $1.49 earnings per share. The firm’s revenue was up 2.5% compared to the same quarter last year. Analysts anticipate that Textron Inc. will post 5.52 EPS for the current year.

Textron Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 1st. Investors of record on Friday, December 13th were paid a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.11%. The ex-dividend date of this dividend was Friday, December 13th. Textron’s dividend payout ratio (DPR) is currently 1.76%.

Wall Street Analysts Forecast Growth

TXT has been the subject of several research reports. Robert W. Baird cut their price objective on shares of Textron from $109.00 to $100.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. UBS Group decreased their target price on shares of Textron from $87.00 to $79.00 and set a “sell” rating on the stock in a report on Friday, October 25th. TD Cowen upgraded Textron to a “hold” rating in a research report on Thursday, December 19th. JPMorgan Chase & Co. cut their target price on shares of Textron from $100.00 to $95.00 and set a “neutral” rating on the stock in a research report on Monday, October 14th. Finally, Barclays lowered their target price on Textron from $104.00 to $95.00 and set an “overweight” rating for the company in a research report on Monday, December 23rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $100.00.

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.