Citizens Financial Group Inc. RI Lowers Stock Position in Textron Inc. (NYSE:TXT)

Citizens Financial Group Inc. RI lessened its position in shares of Textron Inc. (NYSE:TXT) by 1.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 64,263 shares of the aerospace company’s stock after selling 1,064 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in Textron were worth $5,693,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of TXT. Blair William & Co. IL lifted its position in shares of Textron by 6.5% during the 1st quarter. Blair William & Co. IL now owns 5,364 shares of the aerospace company’s stock valued at $515,000 after buying an additional 326 shares in the last quarter. O Shaughnessy Asset Management LLC grew its position in shares of Textron by 7.7% in the first quarter. O Shaughnessy Asset Management LLC now owns 17,231 shares of the aerospace company’s stock valued at $1,653,000 after purchasing an additional 1,229 shares during the period. Lake Street Advisors Group LLC purchased a new stake in shares of Textron during the first quarter worth about $204,000. CANADA LIFE ASSURANCE Co raised its position in shares of Textron by 48.0% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 81,948 shares of the aerospace company’s stock worth $7,864,000 after purchasing an additional 26,572 shares during the last quarter. Finally, Pitcairn Co. lifted its stake in Textron by 6.7% in the 1st quarter. Pitcairn Co. now owns 3,372 shares of the aerospace company’s stock valued at $323,000 after buying an additional 212 shares in the last quarter. 86.03% of the stock is owned by hedge funds and other institutional investors.

Textron Stock Performance

NYSE TXT opened at $83.96 on Friday. The stock has a fifty day simple moving average of $86.07 and a 200-day simple moving average of $87.22. The company has a current ratio of 1.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.46. The stock has a market cap of $15.58 billion, a PE ratio of 18.45, a P/E/G ratio of 1.46 and a beta of 1.24. Textron Inc. has a twelve month low of $74.13 and a twelve 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 the consensus estimate of $1.49 by ($0.09). The company had revenue of $3.43 billion for the quarter, compared to analysts’ expectations of $3.50 billion. Textron had a return on equity of 16.02% and a net margin of 6.30%. The company’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same period last year, the business earned $1.49 EPS. Equities analysts anticipate that Textron Inc. will post 5.53 earnings per share for the current year.

Textron Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Friday, December 13th will be paid a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.10%. The ex-dividend date of this dividend is Friday, December 13th. Textron’s dividend payout ratio (DPR) is 1.76%.

Analyst Upgrades and Downgrades

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

Textron Profile

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.