Textron Inc. (NYSE:TXT) Shares Sold by Truist Financial Corp

Truist Financial Corp decreased its position in shares of Textron Inc. (NYSE:TXTGet Rating) by 40.6% during the third quarter, Holdings Channel.com reports. The firm owned 14,712 shares of the aerospace company’s stock after selling 10,047 shares during the period. Truist Financial Corp’s holdings in Textron were worth $856,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in TXT. AQR Capital Management LLC grew its stake in shares of Textron by 65.6% during the 2nd quarter. AQR Capital Management LLC now owns 2,310,435 shares of the aerospace company’s stock worth $135,645,000 after purchasing an additional 915,068 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Textron by 36.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 3,318,093 shares of the aerospace company’s stock valued at $202,636,000 after buying an additional 890,654 shares in the last quarter. Mariner LLC lifted its position in shares of Textron by 2,973.5% during the 1st quarter. Mariner LLC now owns 471,666 shares of the aerospace company’s stock valued at $35,083,000 after buying an additional 456,320 shares in the last quarter. FMR LLC lifted its position in shares of Textron by 28.5% during the 2nd quarter. FMR LLC now owns 1,738,042 shares of the aerospace company’s stock valued at $106,143,000 after buying an additional 385,477 shares in the last quarter. Finally, Bank of Montreal Can lifted its position in shares of Textron by 88.7% during the 2nd quarter. Bank of Montreal Can now owns 380,708 shares of the aerospace company’s stock valued at $25,639,000 after buying an additional 178,939 shares in the last quarter. Institutional investors and hedge funds own 84.69% of the company’s stock.

Textron Trading Up 2.2 %

Shares of TXT stock opened at $67.85 on Friday. The stock’s fifty day moving average is $70.56 and its two-hundred day moving average is $66.17. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.17 and a current ratio of 2.22. The firm has a market capitalization of $14.17 billion, a P/E ratio of 17.53, a PEG ratio of 1.04 and a beta of 1.48. Textron Inc. has a fifty-two week low of $57.11 and a fifty-two week high of $76.11.

Textron (NYSE:TXTGet Rating) last posted its quarterly earnings results on Thursday, October 27th. The aerospace company reported $1.06 EPS for the quarter, topping the consensus estimate of $0.94 by $0.12. Textron had a return on equity of 12.40% and a net margin of 6.71%. The business had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.21 billion. Research analysts expect that Textron Inc. will post 3.95 earnings per share for the current fiscal year.

Textron Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, January 1st. Stockholders of record on Friday, December 9th were issued a dividend of $0.02 per share. The ex-dividend date of this dividend was Thursday, December 8th. This represents a $0.08 annualized dividend and a dividend yield of 0.12%. Textron’s dividend payout ratio is presently 2.07%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on TXT. StockNews.com upgraded Textron from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 6th. Morgan Stanley decreased their target price on Textron from $90.00 to $84.00 and set an “overweight” rating on the stock in a research report on Friday, October 28th. Finally, The Goldman Sachs Group raised their price objective on Textron from $84.00 to $93.00 and gave the company a “buy” rating in a report on Thursday, December 15th. Two research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Textron currently has a consensus rating of “Moderate Buy” and a consensus price target of $81.67.

Textron Profile

(Get Rating)

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.

Featured Stories

Want to see what other hedge funds are holding TXT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Textron Inc. (NYSE:TXTGet Rating).

Institutional Ownership by Quarter for Textron (NYSE:TXT)

Receive News & Ratings for Textron Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Textron and related companies with MarketBeat.com's FREE daily email newsletter.