Mutual of America Capital Management LLC lessened its holdings in Textron Inc. (NYSE:TXT) by 6.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 30,113 shares of the aerospace company’s stock after selling 2,179 shares during the period. Mutual of America Capital Management LLC’s holdings in Textron were worth $1,622,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also made changes to their positions in the company. Parkside Financial Bank & Trust lifted its stake in shares of Textron by 0.8% in the 2nd quarter. Parkside Financial Bank & Trust now owns 3,226 shares of the aerospace company’s stock valued at $152,000 after purchasing an additional 26 shares during the last quarter. Intrust Bank NA lifted its stake in shares of Textron by 0.6% in the 2nd quarter. Intrust Bank NA now owns 5,892 shares of the aerospace company’s stock valued at $277,000 after purchasing an additional 33 shares during the last quarter. Veritable L.P. lifted its stake in shares of Textron by 0.3% in the 2nd quarter. Veritable L.P. now owns 12,868 shares of the aerospace company’s stock valued at $606,000 after purchasing an additional 44 shares during the last quarter. Canandaigua National Bank & Trust Co. lifted its stake in shares of Textron by 1.6% in the 2nd quarter. Canandaigua National Bank & Trust Co. now owns 4,815 shares of the aerospace company’s stock valued at $227,000 after purchasing an additional 75 shares during the last quarter. Finally, CIBC Asset Management Inc lifted its stake in shares of Textron by 0.4% in the 2nd quarter. CIBC Asset Management Inc now owns 25,070 shares of the aerospace company’s stock valued at $1,181,000 after purchasing an additional 98 shares during the last quarter. 81.32% of the stock is currently owned by institutional investors and hedge funds.
Textron (NYSE:TXT) last issued its earnings results on Thursday, October 19th. The aerospace company reported $0.65 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.03. The firm had revenue of $3.48 billion for the quarter, compared to analysts’ expectations of $3.55 billion. Textron had a return on equity of 12.02% and a net margin of 4.48%. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.61 earnings per share.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 1st. Shareholders of record on Friday, December 15th will be paid a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.15%. The ex-dividend date is Thursday, December 14th. Textron’s dividend payout ratio is presently 3.45%.
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TXT has been the topic of several research analyst reports. Zacks Investment Research upgraded Textron from a “hold” rating to a “buy” rating and set a $55.00 price objective on the stock in a report on Tuesday, July 18th. Drexel Hamilton upgraded Textron from a “hold” rating to a “buy” rating and set a $58.00 price objective on the stock in a report on Monday, September 11th. ValuEngine upgraded Textron from a “hold” rating to a “buy” rating in a report on Friday, September 8th. Credit Suisse Group reiterated an “outperform” rating and issued a $55.00 price objective (up previously from $50.00) on shares of Textron in a report on Thursday, July 20th. Finally, Bank of America Corporation downgraded Textron from a “buy” rating to an “underperform” rating and cut their price objective for the company from $53.00 to $45.00 in a report on Friday, July 21st. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $56.92.
Textron Company Profile
Textron Inc is a multi-industry company engaged in aircraft, defense, industrial and finance businesses to provide customers with products and services across the world. The Company operates through five segments: Textron Aviation, Bell, Textron Systems, Industrial and Finance. The Textron Aviation segment is engaged in general aviation.
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