Toronto Dominion Bank Reduces Stock Holdings in Textron Inc. (NYSE:TXT)

Toronto Dominion Bank lessened its stake in Textron Inc. (NYSE:TXT) by 0.2% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 92,998 shares of the aerospace company’s stock after selling 142 shares during the quarter. Toronto Dominion Bank owned about 0.05% of Textron worth $8,238,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of TXT. Assenagon Asset Management S.A. grew its stake in shares of Textron by 6.0% during the second quarter. Assenagon Asset Management S.A. now owns 4,822 shares of the aerospace company’s stock valued at $414,000 after acquiring an additional 275 shares in the last quarter. Raymond James & Associates grew its stake in Textron by 4.0% during the 2nd quarter. Raymond James & Associates now owns 210,892 shares of the aerospace company’s stock valued at $18,107,000 after purchasing an additional 8,168 shares in the last quarter. Hennion & Walsh Asset Management Inc. increased its holdings in Textron by 47.5% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 7,547 shares of the aerospace company’s stock worth $648,000 after purchasing an additional 2,429 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Textron in the 2nd quarter valued at approximately $30,000. Finally, New York State Teachers Retirement System boosted its stake in shares of Textron by 4.1% during the 2nd quarter. New York State Teachers Retirement System now owns 208,903 shares of the aerospace company’s stock valued at $17,936,000 after buying an additional 8,230 shares during the last quarter. Institutional investors and hedge funds own 86.03% of the company’s stock.

Textron Stock Down 0.2 %

TXT stock opened at $80.92 on Friday. The company has a quick ratio of 0.82, a current ratio of 1.83 and a debt-to-equity ratio of 0.46. The firm’s 50-day simple moving average is $84.94 and its 200 day simple moving average is $86.74. The stock has a market cap of $15.01 billion, a PE ratio of 17.78, a price-to-earnings-growth ratio of 1.46 and a beta of 1.25. Textron Inc. has a fifty-two week low of $76.98 and a fifty-two week high of $97.33.

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

Textron Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. JPMorgan Chase & Co. decreased their price target on Textron from $100.00 to $95.00 and set a “neutral” rating for the company in a research note on Monday, October 14th. Robert W. Baird dropped their price target on Textron from $109.00 to $100.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. TD Cowen downgraded shares of Textron from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $103.00 to $95.00 in a report on Wednesday, September 25th. UBS Group reduced their price target on shares of Textron from $87.00 to $79.00 and set a “sell” rating on the stock in a research report on Friday, October 25th. Finally, StockNews.com lowered shares of Textron from a “strong-buy” rating to a “buy” rating in a report on Thursday, September 12th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company 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.