FDO Partners LLC Sells 20,092 Shares of Textron Inc. (TXT)

FDO Partners LLC lowered its holdings in Textron Inc. (NYSE:TXT) by 41.4% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 28,390 shares of the aerospace company’s stock after selling 20,092 shares during the period. FDO Partners LLC’s holdings in Textron were worth $1,530,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in Textron by 1.6% in the 2nd quarter. Vanguard Group Inc. now owns 24,931,208 shares of the aerospace company’s stock valued at $1,174,260,000 after purchasing an additional 393,214 shares during the period. Capital Research Global Investors boosted its holdings in Textron by 2.1% in the 2nd quarter. Capital Research Global Investors now owns 18,615,303 shares of the aerospace company’s stock valued at $876,781,000 after purchasing an additional 378,902 shares during the period. BlackRock Inc. boosted its holdings in Textron by 3.8% in the 2nd quarter. BlackRock Inc. now owns 17,799,799 shares of the aerospace company’s stock valued at $838,370,000 after purchasing an additional 655,034 shares during the period. American Century Companies Inc. boosted its holdings in Textron by 4.9% in the 2nd quarter. American Century Companies Inc. now owns 5,457,637 shares of the aerospace company’s stock valued at $257,055,000 after purchasing an additional 252,903 shares during the period. Finally, Neuberger Berman Group LLC boosted its holdings in Textron by 28.4% in the 2nd quarter. Neuberger Berman Group LLC now owns 4,323,775 shares of the aerospace company’s stock valued at $203,650,000 after purchasing an additional 957,464 shares during the period. 82.04% of the stock is owned by hedge funds and other institutional investors.

A number of analysts have issued reports on TXT shares. Jefferies Group reissued a “buy” rating and issued a $60.00 price objective on shares of Textron in a report on Tuesday, September 26th. Zacks Investment Research upgraded shares of Textron from a “hold” rating to a “buy” rating and set a $59.00 target price for the company in a research report on Thursday, September 21st. Drexel Hamilton upgraded shares of Textron from a “hold” rating to a “buy” rating and set a $58.00 target price for the company in a research report on Monday, September 11th. ValuEngine upgraded shares of Textron from a “hold” rating to a “buy” rating in a research report on Friday, September 8th. Finally, Citigroup boosted their target price on shares of Textron from $54.00 to $61.00 and gave the company a “buy” rating in a research report on Friday, October 20th. Four investment analysts have rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $56.92.

Shares of Textron Inc. (NYSE:TXT) traded down $0.82 during trading hours on Friday, hitting $54.89. 1,451,405 shares of the stock traded hands, compared to its average volume of 1,126,497. The firm has a market cap of $14,459.12, a PE ratio of 21.87, a PEG ratio of 2.52 and a beta of 1.57. The company has a quick ratio of 0.96, a current ratio of 2.08 and a debt-to-equity ratio of 0.67. Textron Inc. has a one year low of $43.66 and a one year high of $55.83.

Textron (NYSE:TXT) last issued its earnings results on Thursday, October 19th. The aerospace company reported $0.65 EPS for the quarter, beating the consensus estimate of $0.62 by $0.03. The company had revenue of $3.48 billion during the quarter, compared to analysts’ expectations of $3.55 billion. Textron had a net margin of 4.48% and a return on equity of 12.02%. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.61 EPS. sell-side analysts forecast that Textron Inc. will post 2.47 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 1st. Investors of record on Friday, December 15th will be given a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.15%. The ex-dividend date of this dividend is Thursday, December 14th. Textron’s dividend payout ratio is 3.45%.

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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.

Institutional Ownership by Quarter for Textron (NYSE:TXT)

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