Y Intercept Hong Kong Ltd Cuts Position in Textron Inc. (NYSE:TXT)

Y Intercept Hong Kong Ltd lessened its stake in Textron Inc. (NYSE:TXT) by 84.9% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,660 shares of the aerospace company’s stock after selling 14,920 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Textron were worth $236,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Innealta Capital LLC purchased a new position in Textron during the second quarter worth about $25,000. True Wealth Design LLC purchased a new position in Textron in the third quarter valued at approximately $26,000. Family Firm Inc. purchased a new position in shares of Textron in the 2nd quarter valued at $40,000. Capital Performance Advisors LLP acquired a new stake in shares of Textron during the third quarter worth about $42,000. Finally, Truvestments Capital LLC acquired a new position in Textron during the third quarter worth approximately $43,000. Institutional investors and hedge funds own 86.03% of the company’s stock.

Textron Stock Performance

Shares of NYSE TXT opened at $76.11 on Thursday. The business’s 50-day simple moving average is $84.55 and its 200-day simple moving average is $86.58. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.82 and a current ratio of 1.83. Textron Inc. has a 52 week low of $76.03 and a 52 week high of $97.33. The firm has a market cap of $14.12 billion, a price-to-earnings ratio of 16.73, a P/E/G ratio of 1.46 and a beta of 1.25.

Textron (NYSE:TXT) last released its earnings results on Thursday, October 24th. The aerospace company reported $1.40 earnings per share for the quarter, missing the consensus estimate of $1.49 by ($0.09). Textron had a net margin of 6.30% and a return on equity of 16.02%. The company had revenue of $3.43 billion during the quarter, compared to the consensus estimate of $3.50 billion. During the same quarter in the previous year, the business posted $1.49 EPS. The firm’s quarterly revenue was up 2.5% on a year-over-year basis. As a group, equities research analysts expect that Textron Inc. will post 5.52 earnings per share for the current fiscal year.

Textron Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Friday, December 13th will be given a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.11%. The ex-dividend date is Friday, December 13th. Textron’s payout ratio is presently 1.76%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on TXT shares. Robert W. Baird decreased their price target on Textron from $109.00 to $100.00 and set an “outperform” rating for the company in a report on Friday, October 25th. TD Cowen downgraded shares of Textron from a “buy” rating to a “hold” rating and cut their target price for the company from $103.00 to $95.00 in a research note on Wednesday, September 25th. JPMorgan Chase & Co. lowered their price target on Textron from $100.00 to $95.00 and set a “neutral” rating for the company in a report on Monday, October 14th. StockNews.com downgraded Textron from a “strong-buy” rating to a “buy” rating in a report on Thursday, September 12th. Finally, UBS Group decreased their target price on Textron from $87.00 to $79.00 and set a “sell” rating for the company in a research report on Friday, October 25th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $101.56.

Textron 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.