Textron Inc. (NYSE:TXT) Shares Sold by Ontario Teachers Pension Plan Board

Ontario Teachers Pension Plan Board reduced its holdings in Textron Inc. (NYSE:TXT) by 70.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,679 shares of the aerospace company’s stock after selling 18,712 shares during the period. Ontario Teachers Pension Plan Board’s holdings in Textron were worth $680,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Innealta Capital LLC purchased a new position in Textron in the 2nd quarter worth approximately $25,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Textron in the second quarter valued at $30,000. Oakworth Capital Inc. purchased a new position in shares of Textron in the 2nd quarter valued at about $31,000. Family Firm Inc. acquired a new position in Textron during the 2nd quarter worth approximately $40,000. Finally, Capital Performance Advisors LLP purchased a new position in shares of Textron in the 3rd quarter valued at about $42,000. Hedge funds and other institutional investors own 86.03% of the company’s stock.

Textron Price Performance

Shares of TXT stock opened at $83.96 on Friday. The company has a quick ratio of 0.82, a current ratio of 1.83 and a debt-to-equity ratio of 0.46. The firm has a market cap of $15.58 billion, a price-to-earnings ratio of 18.45, a PEG ratio of 1.46 and a beta of 1.24. The stock has a 50-day moving average price of $86.07 and a 200 day moving average price of $87.22. Textron Inc. has a 12 month low of $74.13 and a 12 month high of $97.33.

Textron (NYSE:TXT) last announced its earnings results on Thursday, October 24th. The aerospace company reported $1.40 earnings per share for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.09). The company had revenue of $3.43 billion during the quarter, compared to analyst estimates of $3.50 billion. Textron had a return on equity of 16.02% and a net margin of 6.30%. Textron’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.49 earnings per share. Research analysts expect that Textron Inc. will post 5.53 EPS for the current year.

Textron Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 13th will be issued a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.10%. The ex-dividend date is Friday, December 13th. Textron’s payout ratio is presently 1.76%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on TXT. Robert W. Baird reduced their target price on Textron from $109.00 to $100.00 and set an “outperform” rating for the company in a report on Friday, October 25th. UBS Group dropped their target price on shares of Textron from $87.00 to $79.00 and set a “sell” rating for the company in a report on Friday, October 25th. Morgan Stanley downgraded Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 price target for the company. in a research report on Thursday, August 8th. StockNews.com cut shares of Textron from a “strong-buy” rating to a “buy” rating in a research note on Thursday, September 12th. Finally, JPMorgan Chase & Co. cut their price target on shares of Textron from $100.00 to $95.00 and set a “neutral” rating on the stock in a research note on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $101.56.

About Textron

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.