Bridgewater Associates LP Reduces Stock Position in Textron Inc. (NYSE:TXT)

Bridgewater Associates LP lowered its stake in shares of Textron Inc. (NYSE:TXT) by 3.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 136,655 shares of the aerospace company’s stock after selling 5,170 shares during the period. Bridgewater Associates LP’s holdings in Textron were worth $12,105,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in TXT. Lazard Asset Management LLC raised its position in shares of Textron by 57.2% in the first quarter. Lazard Asset Management LLC now owns 695 shares of the aerospace company’s stock worth $66,000 after buying an additional 253 shares in the last quarter. Bayesian Capital Management LP purchased a new stake in shares of Textron in the first quarter worth $297,000. B. Riley Wealth Advisors Inc. raised its position in shares of Textron by 17.0% in the first quarter. B. Riley Wealth Advisors Inc. now owns 4,402 shares of the aerospace company’s stock worth $422,000 after buying an additional 640 shares in the last quarter. Tidal Investments LLC raised its position in shares of Textron by 57.0% in the first quarter. Tidal Investments LLC now owns 10,868 shares of the aerospace company’s stock worth $1,043,000 after buying an additional 3,946 shares in the last quarter. Finally, Hancock Whitney Corp purchased a new stake in shares of Textron in the first quarter worth $227,000. Hedge funds and other institutional investors own 86.03% of the company’s stock.

Textron Stock Down 0.1 %

Shares of NYSE:TXT opened at $85.08 on Friday. The stock’s 50-day moving average price is $85.85 and its 200-day moving average price is $87.16. Textron Inc. has a 12-month low of $74.13 and a 12-month high of $97.33. The stock has a market capitalization of $15.78 billion, a P/E ratio of 18.70, a price-to-earnings-growth ratio of 1.53 and a beta of 1.24. The company has a current ratio of 1.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.46.

Textron (NYSE:TXT) last posted its earnings results on Thursday, October 24th. The aerospace company reported $1.40 earnings per share for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.09). The firm 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 business’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.49 earnings per share. On average, equities analysts anticipate that Textron Inc. will post 5.53 earnings per share for the current year.

Textron Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Friday, December 13th will be issued a dividend of $0.02 per share. The ex-dividend date is Friday, December 13th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.09%. Textron’s dividend payout ratio is currently 1.76%.

Wall Street Analyst Weigh In

A number of research firms recently commented on TXT. StockNews.com cut Textron from a “strong-buy” rating to a “buy” rating in a research note on Thursday, September 12th. JPMorgan Chase & Co. reduced their target price on Textron from $100.00 to $95.00 and set a “neutral” rating on the stock in a research note on Monday, October 14th. UBS Group reduced their target price on Textron from $87.00 to $79.00 and set a “sell” rating on the stock in a research note on Friday, October 25th. TD Cowen cut Textron from a “buy” rating to a “hold” rating and reduced their target price for the company from $103.00 to $95.00 in a research note on Wednesday, September 25th. Finally, Robert W. Baird reduced their target price on Textron from $109.00 to $100.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. One analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Textron has an average rating of “Moderate Buy” and a consensus price target of $101.56.

Textron Company 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.