Cambridge Investment Research Advisors Inc. Sells 1,517 Shares of Textron Inc. (TXT)

Cambridge Investment Research Advisors Inc. trimmed its holdings in shares of Textron Inc. (NYSE:TXT) by 8.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,440 shares of the aerospace company’s stock after selling 1,517 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Textron were worth $1,104,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in TXT. Private Advisor Group LLC lifted its position in shares of Textron by 284.6% during the third quarter. Private Advisor Group LLC now owns 15,636 shares of the aerospace company’s stock worth $1,117,000 after purchasing an additional 11,570 shares in the last quarter. Morse Asset Management Inc lifted its position in shares of Textron by 11.0% during the third quarter. Morse Asset Management Inc now owns 26,745 shares of the aerospace company’s stock worth $1,911,000 after purchasing an additional 2,660 shares in the last quarter. Synovus Financial Corp lifted its position in shares of Textron by 328.4% during the third quarter. Synovus Financial Corp now owns 5,389 shares of the aerospace company’s stock worth $386,000 after purchasing an additional 4,131 shares in the last quarter. Willingdon Wealth Management acquired a new position in shares of Textron during the third quarter worth $157,000. Finally, US Bancorp DE lifted its position in shares of Textron by 3.3% during the third quarter. US Bancorp DE now owns 33,960 shares of the aerospace company’s stock worth $2,427,000 after purchasing an additional 1,090 shares in the last quarter. 84.22% of the stock is currently owned by hedge funds and other institutional investors.

TXT opened at $54.82 on Friday. The firm has a market capitalization of $13.28 billion, a P/E ratio of 22.38, a P/E/G ratio of 1.05 and a beta of 1.66. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.11 and a current ratio of 2.29. Textron Inc. has a 12-month low of $51.49 and a 12-month high of $72.87.

Textron (NYSE:TXT) last posted its quarterly earnings results on Thursday, October 18th. The aerospace company reported $0.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.15). The company had revenue of $3.20 billion during the quarter, compared to analyst estimates of $3.52 billion. Textron had a net margin of 6.11% and a return on equity of 13.72%. The company’s revenue was down 8.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.65 earnings per share. As a group, equities research analysts anticipate that Textron Inc. will post 3.21 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 1st. Shareholders of record on Friday, December 14th will be paid a dividend of $0.02 per share. The ex-dividend date of this dividend is Thursday, December 13th. This represents a $0.08 annualized dividend and a yield of 0.15%. Textron’s payout ratio is 3.27%.

TXT has been the topic of a number of recent research reports. Jefferies Financial Group boosted their target price on shares of Textron to $82.00 and gave the stock a “buy” rating in a research report on Wednesday, September 26th. Zacks Investment Research cut shares of Textron from a “buy” rating to a “hold” rating in a report on Monday, October 22nd. Wells Fargo & Co cut their price target on shares of Textron from $72.00 to $70.00 and set an “outperform” rating on the stock in a report on Friday, October 19th. Morgan Stanley cut their price target on shares of Textron from $71.00 to $64.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 14th. Finally, ValuEngine cut shares of Textron from a “buy” rating to a “hold” rating in a report on Thursday, October 18th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company. Textron currently has a consensus rating of “Buy” and an average price target of $74.00.

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Textron 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.

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Institutional Ownership by Quarter for Textron (NYSE:TXT)

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