Ferguson Wellman Capital Management Inc. Sells 37,963 Shares of Textron Inc. (NYSE:TXT)

by · The Markets Daily

Ferguson Wellman Capital Management Inc. trimmed its position in shares of Textron Inc. (NYSE:TXT – Free Report) by 8.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 415,827 shares of the aerospace company’s stock after selling 37,963 shares during the period. Ferguson Wellman Capital Management Inc. owned 0.22% of Textron worth $36,834,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Innealta Capital LLC purchased a new stake in Textron in the 2nd quarter worth about $25,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Textron during the 2nd quarter valued at approximately $30,000. Oakworth Capital Inc. bought a new position in Textron in the 2nd quarter worth approximately $31,000. Family Firm Inc. bought a new stake in Textron during the 2nd quarter valued at $40,000. Finally, Truvestments Capital LLC bought a new position in shares of Textron in the first quarter worth $48,000. 86.03% of the stock is owned by hedge funds and other institutional investors.

Textron Trading Down 0.3 %

Shares of TXT stock traded down $0.27 during mid-day trading on Friday, reaching $90.05. The stock had a trading volume of 995,643 shares, compared to its average volume of 1,066,662. The company has a current ratio of 1.79, a quick ratio of 0.81 and a debt-to-equity ratio of 0.47. The stock’s 50-day moving average price is $87.80 and its two-hundred day moving average price is $88.43. The firm has a market capitalization of $16.87 billion, a PE ratio of 19.08, a price-to-earnings-growth ratio of 1.43 and a beta of 1.23. Textron Inc. has a 52-week low of $74.13 and a 52-week high of $97.33.

Textron (NYSE:TXT – Get Free Report) last released its quarterly earnings results on Thursday, July 18th. The aerospace company reported $1.54 EPS for the quarter, beating analysts’ consensus estimates of $1.48 by $0.06. Textron had a return on equity of 16.41% and a net margin of 6.67%. The business had revenue of $3.53 billion during the quarter, compared to analyst estimates of $3.56 billion. During the same quarter in the prior year, the company posted $1.46 EPS. Textron’s quarterly revenue was up 3.0% compared to the same quarter last year. Equities analysts expect that Textron Inc. will post 6.15 earnings per share for the current fiscal year.

Textron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were paid a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.09%. The ex-dividend date of this dividend was Friday, September 13th. Textron’s payout ratio is 1.69%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on TXT shares. Morgan Stanley cut Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 price objective on the stock. in a report on Thursday, August 8th. JPMorgan Chase & Co. decreased their price objective on shares of Textron from $100.00 to $95.00 and set a “neutral” rating on the stock in a research report on Monday, October 14th. TD Cowen lowered Textron from a “buy” rating to a “hold” rating and dropped their price target for the stock from $103.00 to $95.00 in a research note on Wednesday, September 25th. UBS Group raised their price objective on Textron from $84.00 to $87.00 and gave the company a “sell” rating in a report on Friday, July 19th. Finally, Citigroup upped their target price on Textron from $111.00 to $115.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Textron currently has an average rating of “Hold” and a consensus price target of $102.75.

Check Out Our Latest Stock Analysis on TXT

Textron Profile

(Free Report)

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.

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