Ontario Teachers Pension Plan Board Decreases Stake in Textron Inc. (NYSE:TXT)

Ontario Teachers Pension Plan Board lowered its position in shares of Textron Inc. (NYSE:TXT) by 70.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,679 shares of the aerospace company’s stock after selling 18,712 shares during the period. Ontario Teachers Pension Plan Board’s holdings in Textron were worth $680,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Boston Partners boosted its holdings in Textron by 1.4% in the first quarter. Boston Partners now owns 7,116,231 shares of the aerospace company’s stock valued at $682,475,000 after purchasing an additional 99,868 shares during the period. Dimensional Fund Advisors LP grew its position in Textron by 6.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,808,600 shares of the aerospace company’s stock worth $241,152,000 after purchasing an additional 160,923 shares during the last quarter. Brandes Investment Partners LP grew its holdings in shares of Textron by 20.0% during the second quarter. Brandes Investment Partners LP now owns 1,549,551 shares of the aerospace company’s stock worth $133,096,000 after buying an additional 258,778 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of Textron by 18.9% in the second quarter. AQR Capital Management LLC now owns 1,451,293 shares of the aerospace company’s stock valued at $124,608,000 after purchasing an additional 231,173 shares during the period. Finally, Bank of New York Mellon Corp raised its position in Textron by 0.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,398,779 shares of the aerospace company’s stock worth $120,099,000 after buying an additional 6,175 shares during the last quarter. 86.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. UBS Group lowered their price target on shares of Textron from $87.00 to $79.00 and set a “sell” rating on the stock in a research note on Friday, October 25th. StockNews.com downgraded Textron from a “strong-buy” rating to a “buy” rating in a report on Thursday, September 12th. TD Cowen cut shares of Textron from a “buy” rating to a “hold” rating and reduced their price target for the company from $103.00 to $95.00 in a research report on Wednesday, September 25th. Robert W. Baird lowered their target price on Textron from $109.00 to $100.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Finally, Morgan Stanley lowered Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 target price on the stock. in a research report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Textron has an average rating of “Moderate Buy” and a consensus target price of $101.56.

Textron Trading Up 2.6 %

Shares of NYSE:TXT opened at $83.96 on Friday. The company has a market capitalization of $15.58 billion, a P/E ratio of 18.45, a P/E/G ratio of 1.46 and a beta of 1.24. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.83 and a quick ratio of 0.82. Textron Inc. has a 1 year low of $74.13 and a 1 year high of $97.33. The business’s 50 day simple moving average is $86.07 and its 200 day simple moving average is $87.22.

Textron (NYSE:TXT) last released its quarterly earnings results on Thursday, October 24th. The aerospace company reported $1.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.49 by ($0.09). The business had revenue of $3.43 billion for the quarter, compared to the consensus estimate of $3.50 billion. Textron had a net margin of 6.30% and a return on equity of 16.02%. Textron’s revenue was up 2.5% on a year-over-year basis. During the same period in the previous year, the business posted $1.49 EPS. On average, research analysts anticipate that Textron Inc. will post 5.53 EPS for the current fiscal year.

Textron Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 13th will be issued a $0.02 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.10%. Textron’s dividend payout ratio (DPR) is presently 1.76%.

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.