Barington Capital Group L.P. Trims Stock Holdings in Textron Inc. (NYSE:TXT)

Barington Capital Group L.P. reduced its stake in shares of Textron Inc. (NYSE:TXT) by 41.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 56,225 shares of the aerospace company’s stock after selling 40,093 shares during the quarter. Textron comprises 5.3% of Barington Capital Group L.P.’s portfolio, making the stock its 8th biggest position. Barington Capital Group L.P.’s holdings in Textron were worth $4,980,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Cetera Investment Advisers raised its stake in Textron by 579.5% during the 1st quarter. Cetera Investment Advisers now owns 50,684 shares of the aerospace company’s stock worth $4,862,000 after buying an additional 43,225 shares during the period. Easterly Investment Partners LLC raised its position in shares of Textron by 87.7% during the third quarter. Easterly Investment Partners LLC now owns 41,305 shares of the aerospace company’s stock worth $3,659,000 after purchasing an additional 19,304 shares during the period. KBC Group NV bought a new position in shares of Textron during the 3rd quarter valued at about $1,797,000. Atria Investments Inc acquired a new position in shares of Textron in the 1st quarter valued at approximately $1,204,000. Finally, Robeco Institutional Asset Management B.V. increased its stake in Textron by 13.3% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 495,411 shares of the aerospace company’s stock worth $43,884,000 after purchasing an additional 57,967 shares in the last quarter. 86.03% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. 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. Robert W. Baird cut their price objective on shares of Textron from $109.00 to $100.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. UBS Group lowered their target price on Textron from $87.00 to $79.00 and set a “sell” rating for the company in a report on Friday, October 25th. StockNews.com downgraded Textron from a “strong-buy” rating to a “buy” rating in a research note on Thursday, September 12th. Finally, TD Cowen cut Textron from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $103.00 to $95.00 in a research report on Wednesday, September 25th. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Textron has a consensus rating of “Moderate Buy” and an average target price of $101.56.

Textron Trading Up 0.6 %

Shares of Textron stock opened at $85.63 on Monday. Textron Inc. has a 12-month low of $74.61 and a 12-month high of $97.33. 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 business’s 50 day moving average is $85.73 and its 200-day moving average is $87.12. The stock has a market cap of $15.89 billion, a P/E ratio of 18.82, a P/E/G ratio of 1.54 and a beta of 1.24.

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

Textron Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Friday, December 13th will be given a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.09%. The ex-dividend date is Friday, December 13th. Textron’s dividend payout ratio (DPR) is presently 1.76%.

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.