Rafferty Asset Management LLC Sells 41,420 Shares of Textron Inc. (NYSE:TXT)

Rafferty Asset Management LLC reduced its position in Textron Inc. (NYSE:TXT) by 22.3% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 144,069 shares of the aerospace company’s stock after selling 41,420 shares during the period. Rafferty Asset Management LLC owned approximately 0.07% of Textron worth $10,057,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of TXT. Commonwealth Equity Services LLC lifted its stake in Textron by 0.4% during the 3rd quarter. Commonwealth Equity Services LLC now owns 34,287 shares of the aerospace company’s stock valued at $2,393,000 after acquiring an additional 144 shares in the last quarter. Panagora Asset Management Inc. lifted its stake in Textron by 1.9% during the 2nd quarter. Panagora Asset Management Inc. now owns 9,889 shares of the aerospace company’s stock valued at $680,000 after acquiring an additional 182 shares in the last quarter. Centre Asset Management LLC lifted its stake in Textron by 0.5% during the 3rd quarter. Centre Asset Management LLC now owns 44,310 shares of the aerospace company’s stock valued at $3,158,000 after acquiring an additional 200 shares in the last quarter. Capital Asset Advisory Services LLC lifted its stake in Textron by 5.3% during the 3rd quarter. Capital Asset Advisory Services LLC now owns 4,109 shares of the aerospace company’s stock valued at $287,000 after acquiring an additional 207 shares in the last quarter. Finally, First Horizon Advisors Inc. lifted its stake in Textron by 6.1% during the 3rd quarter. First Horizon Advisors Inc. now owns 4,690 shares of the aerospace company’s stock valued at $394,000 after acquiring an additional 268 shares in the last quarter. Institutional investors own 85.51% of the company’s stock.

Several equities analysts have weighed in on TXT shares. Susquehanna raised their price objective on Textron from $80.00 to $86.00 and gave the company a “positive” rating in a research note on Friday, October 29th. Susquehanna Bancshares lifted their target price on Textron from $80.00 to $86.00 and gave the stock a “positive” rating in a research note on Friday, October 29th. Zacks Investment Research cut Textron from a “buy” rating to a “hold” rating and set a $81.00 target price on the stock. in a research note on Friday, November 5th. Finally, Morgan Stanley lifted their target price on Textron from $88.00 to $89.00 and gave the stock an “overweight” rating in a research note on Friday, October 29th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $82.60.

Shares of TXT opened at $76.66 on Friday. The business has a 50-day moving average of $75.35 and a 200 day moving average of $72.54. Textron Inc. has a fifty-two week low of $44.36 and a fifty-two week high of $79.45. The firm has a market cap of $16.90 billion, a P/E ratio of 22.55, a price-to-earnings-growth ratio of 0.68 and a beta of 1.75. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.46 and a current ratio of 2.66.

Textron (NYSE:TXT) last announced its quarterly earnings data on Thursday, October 28th. The aerospace company reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.07. Textron had a return on equity of 13.05% and a net margin of 6.09%. The company had revenue of $2.99 billion during the quarter, compared to analyst estimates of $3.17 billion. During the same quarter last year, the firm posted $0.53 EPS. The firm’s revenue for the quarter was up 9.3% on a year-over-year basis. As a group, research analysts predict that Textron Inc. will post 3.33 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Saturday, January 1st. Investors of record on Friday, December 10th were issued a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.10%. The ex-dividend date of this dividend was Thursday, December 9th. Textron’s dividend payout ratio (DPR) is currently 2.35%.

Textron Profile

Textron, Inc is a multi-industry company, which leverages global network of aircraft, defense, industrial, and finance businesses to provide customers innovative solutions and services. The company operates its business through the following segments: Textron Aviation, Bell, Textron Systems, Industrial, and Finance.

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Institutional Ownership by Quarter for Textron (NYSE:TXT)

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