BlackRock Inc. Has $1.16 Billion Stock Holdings in Textron Inc. (NYSE:TXT)

BlackRock Inc. lessened its holdings in Textron Inc. (NYSE:TXT) by 3.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 16,605,922 shares of the aerospace company’s stock after selling 639,015 shares during the quarter. BlackRock Inc. owned 7.53% of Textron worth $1,159,258,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. National Pension Service boosted its holdings in shares of Textron by 13.6% during the 2nd quarter. National Pension Service now owns 68,821 shares of the aerospace company’s stock valued at $4,733,000 after acquiring an additional 8,219 shares in the last quarter. New York State Teachers Retirement System boosted its holdings in shares of Textron by 4.7% during the 3rd quarter. New York State Teachers Retirement System now owns 273,965 shares of the aerospace company’s stock valued at $19,125,000 after acquiring an additional 12,272 shares in the last quarter. Boston Partners boosted its holdings in shares of Textron by 1.5% during the 2nd quarter. Boston Partners now owns 6,951,344 shares of the aerospace company’s stock valued at $478,027,000 after acquiring an additional 100,492 shares in the last quarter. Bridgefront Capital LLC acquired a new stake in shares of Textron during the 2nd quarter valued at $645,000. Finally, Geode Capital Management LLC boosted its holdings in shares of Textron by 0.3% during the 2nd quarter. Geode Capital Management LLC now owns 4,330,421 shares of the aerospace company’s stock valued at $297,035,000 after acquiring an additional 12,818 shares in the last quarter. 85.51% of the stock is currently owned by institutional investors.

Several research analysts recently issued reports on the company. Morgan Stanley raised their target price on Textron from $88.00 to $89.00 and gave the stock an “overweight” rating in a research report on Friday, October 29th. Susquehanna raised their target price on Textron from $80.00 to $86.00 and gave the stock a “positive” rating in a research report on Friday, October 29th. Zacks Investment Research lowered Textron from a “buy” rating to a “hold” rating and set a $81.00 target price for the company. in a research report on Friday, November 5th. Finally, Susquehanna Bancshares raised their target price on Textron from $80.00 to $86.00 and gave the stock a “positive” rating in a research report on Friday, October 29th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Textron presently has an average rating of “Buy” and an average target price of $82.60.

Shares of Textron stock opened at $76.66 on Friday. Textron Inc. has a one year low of $44.36 and a one year high of $79.45. The firm has a market capitalization of $16.90 billion, a price-to-earnings ratio of 22.55, a PEG ratio of 0.68 and a beta of 1.75. The business has a 50-day simple moving average of $75.35 and a 200 day simple moving average of $72.54. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.66 and a quick ratio of 1.46.

Textron (NYSE:TXT) last issued its earnings results on Thursday, October 28th. The aerospace company reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.07. Textron had a return on equity of 13.05% and a net margin of 6.09%. The business had revenue of $2.99 billion during the quarter, compared to analyst estimates of $3.17 billion. During the same period in the previous year, the company posted $0.53 EPS. The firm’s revenue was up 9.3% compared to the same quarter last year. On average, sell-side analysts expect that Textron Inc. will post 3.33 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Saturday, January 1st. Investors of record on Friday, December 10th were given a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.10%. The ex-dividend date was Thursday, December 9th. Textron’s payout ratio is 2.35%.

About Textron

Textron, Inc is a multi-industry company, which leverages global network of aircraft, defense, industrial, and finance businesses to provide customers innovative solutions and services. The company operates its business through the following segments: Textron Aviation, Bell, Textron Systems, Industrial, and Finance.

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Institutional Ownership by Quarter for Textron (NYSE:TXT)

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