Textron Inc. (TXT) Position Trimmed by TD Asset Management Inc.

TD Asset Management Inc. decreased its position in shares of Textron Inc. (NYSE:TXT) by 2.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 580,472 shares of the aerospace company’s stock after selling 12,361 shares during the quarter. TD Asset Management Inc.’s holdings in Textron were worth $41,486,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Centaurus Financial Inc. bought a new stake in Textron during the second quarter worth about $105,000. First Hawaiian Bank bought a new stake in Textron during the third quarter worth about $140,000. BlueMountain Capital Management LLC bought a new stake in Textron during the second quarter worth about $139,000. Willingdon Wealth Management bought a new stake in Textron during the third quarter worth about $157,000. Finally, Harvest Fund Management Co. Ltd acquired a new position in Textron during the third quarter worth about $191,000. 84.96% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE TXT opened at $56.73 on Friday. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.29 and a quick ratio of 1.11. The stock has a market cap of $13.56 billion, a price-to-earnings ratio of 23.16, a price-to-earnings-growth ratio of 1.33 and a beta of 1.66. Textron Inc. has a 12 month low of $51.49 and a 12 month high of $72.87.

Textron (NYSE:TXT) last released its quarterly earnings data on Thursday, October 18th. The aerospace company reported $0.61 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.76 by ($0.15). Textron had a net margin of 6.11% and a return on equity of 13.72%. The firm had revenue of $3.20 billion during the quarter, compared to analyst estimates of $3.52 billion. During the same period in the prior year, the company earned $0.65 EPS. The business’s quarterly revenue was down 8.2% compared to the same quarter last year. On average, sell-side analysts predict that Textron Inc. will post 3.2 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 1st. Stockholders of record on Friday, December 14th will be paid a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.14%. The ex-dividend date is Thursday, December 13th. Textron’s dividend payout ratio is currently 3.27%.

TXT has been the subject of several research analyst reports. Morgan Stanley boosted their target price on Textron from $64.00 to $65.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 12th. Zacks Investment Research raised Textron from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a research note on Tuesday, July 17th. Cowen reissued a “$66.44” rating and set a $73.00 target price on shares of Textron in a research note on Wednesday, July 18th. Citigroup boosted their target price on Textron to $76.00 and gave the stock a “buy” rating in a research note on Thursday, July 19th. Finally, JPMorgan Chase & Co. boosted their target price on Textron from $74.00 to $77.00 and gave the stock a “$66.52” rating in a research note on Monday, July 23rd. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company has an average rating of “Buy” and an average price target of $74.64.

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Textron Company Profile

Textron Inc operates in the aircraft, defense, industrial, and finance businesses worldwide. The company's Textron Aviation segment manufactures and sells business jets, turboprop and piston engine aircraft, and military trainer and defense aircraft; and commercial parts, as well as provides maintenance, inspection, and repair services.

Further Reading: Consumer behavior in bull markets

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Institutional Ownership by Quarter for Textron (NYSE:TXT)

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