Textron Inc. (NYSE:TXT) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. cut its holdings in Textron Inc. (NYSE:TXTGet Rating) by 0.6% in the 2nd quarter, HoldingsChannel reports. The fund owned 270,766 shares of the aerospace company’s stock after selling 1,591 shares during the period. Principal Financial Group Inc.’s holdings in Textron were worth $16,535,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Clear Street Markets LLC raised its holdings in Textron by 401.1% in the 2nd quarter. Clear Street Markets LLC now owns 451 shares of the aerospace company’s stock valued at $28,000 after acquiring an additional 361 shares during the last quarter. Charter Oak Capital Management LLC acquired a new position in Textron in the 2nd quarter valued at $30,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Textron in the 2nd quarter valued at $31,000. Allworth Financial LP raised its holdings in Textron by 53.0% in the 2nd quarter. Allworth Financial LP now owns 560 shares of the aerospace company’s stock valued at $34,000 after acquiring an additional 194 shares during the last quarter. Finally, Lindbrook Capital LLC acquired a new position in Textron in the 2nd quarter valued at $37,000. 87.80% of the stock is currently owned by institutional investors and hedge funds.

Textron Stock Up 0.1 %

Shares of Textron stock opened at $71.15 on Thursday. The company has a fifty day moving average price of $64.65 and a 200 day moving average price of $63.91. The company has a current ratio of 2.22, a quick ratio of 1.17 and a debt-to-equity ratio of 0.53. Textron Inc. has a twelve month low of $57.11 and a twelve month high of $79.45. The stock has a market cap of $14.85 billion, a price-to-earnings ratio of 18.39, a price-to-earnings-growth ratio of 1.15 and a beta of 1.52.

Textron Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Sunday, January 1st. Investors of record on Friday, December 9th will be given a dividend of $0.02 per share. The ex-dividend date is Thursday, December 8th. This represents a $0.08 dividend on an annualized basis and a yield of 0.11%. Textron’s dividend payout ratio (DPR) is 2.07%.

Analysts Set New Price Targets

TXT has been the subject of several analyst reports. Sanford C. Bernstein began coverage on Textron in a report on Tuesday, September 13th. They issued a “market perform” rating for the company. Cfra boosted their price objective on shares of Textron to $73.00 in a research note on Tuesday, August 9th. Morgan Stanley lowered their price objective on shares of Textron from $90.00 to $84.00 and set an “overweight” rating for the company in a research note on Friday, October 28th. StockNews.com raised shares of Textron from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 6th. Finally, Susquehanna Bancshares lowered their price objective on shares of Textron from $90.00 to $84.00 and set a “positive” rating for the company in a research note on Friday, July 29th. Two analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $79.40.

About Textron

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Textron Inc operates in the aircraft, defense, industrial, and finance businesses. The company's 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.

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Institutional Ownership by Quarter for Textron (NYSE:TXT)

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