Textron Inc. (NYSE:TXT) Short Interest Update

Textron Inc. (NYSE:TXT) was the recipient of a significant growth in short interest in the month of September. As of September 15th, there was short interest totalling 4,310,000 shares, a growth of 17.1% from the August 31st total of 3,680,000 shares. Approximately 2.3% of the company’s shares are short sold. Based on an average daily trading volume, of 941,900 shares, the short-interest ratio is presently 4.6 days.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on TXT. TD Cowen downgraded Textron from a “buy” rating to a “hold” rating and lowered their price target for the company from $103.00 to $95.00 in a report on Wednesday, September 25th. StockNews.com downgraded shares of Textron from a “strong-buy” rating to a “buy” rating in a research note on Thursday, September 12th. Morgan Stanley downgraded Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 target price for the company. in a research note on Thursday, August 8th. Citigroup increased their price target on Textron from $111.00 to $115.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Finally, Bank of America raised their price objective on Textron from $105.00 to $110.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $101.50.

Textron Stock Down 0.5 %

NYSE:TXT traded down $0.46 during mid-day trading on Monday, reaching $87.29. The stock had a trading volume of 280,991 shares, compared to its average volume of 1,075,262. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.79 and a quick ratio of 0.81. The company has a market capitalization of $16.65 billion, a price-to-earnings ratio of 18.75, a price-to-earnings-growth ratio of 1.38 and a beta of 1.23. Textron has a 1-year low of $74.13 and a 1-year high of $97.33. The stock’s 50 day simple moving average is $88.26 and its two-hundred day simple moving average is $89.13.

Textron (NYSE:TXT) last issued its quarterly earnings data on Thursday, July 18th. The aerospace company reported $1.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.48 by $0.06. The business had revenue of $3.53 billion during the quarter, compared to analyst estimates of $3.56 billion. Textron had a return on equity of 16.41% and a net margin of 6.67%. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period in the prior year, the company posted $1.46 EPS. Equities analysts anticipate that Textron will post 6.26 EPS for the current year.

Textron Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be given a $0.02 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.08 dividend on an annualized basis and a yield of 0.09%. Textron’s dividend payout ratio is presently 1.71%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in TXT. Innealta Capital LLC bought a new position in Textron during the 2nd quarter valued at $25,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Textron in the second quarter valued at $30,000. Oakworth Capital Inc. bought a new position in Textron during the second quarter valued at about $31,000. Family Firm Inc. acquired a new position in Textron during the second quarter worth about $40,000. Finally, Truvestments Capital LLC bought a new stake in Textron in the first quarter worth about $48,000. Institutional investors and hedge funds own 86.03% of the company’s stock.

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.