M&T Bank Corp Has $1.51 Million Stock Position in Textron Inc. (NYSE:TXT)

M&T Bank Corp grew its holdings in Textron Inc. (NYSE:TXT) by 2.3% during the third quarter, Holdings Channel.com reports. The firm owned 17,101 shares of the aerospace company’s stock after acquiring an additional 382 shares during the quarter. M&T Bank Corp’s holdings in Textron were worth $1,514,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in TXT. Innealta Capital LLC bought a new position in Textron in the second quarter valued at $25,000. True Wealth Design LLC acquired a new position in shares of Textron during the 3rd quarter worth about $26,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Textron in the 2nd quarter valued at about $30,000. Family Firm Inc. acquired a new stake in shares of Textron in the second quarter valued at about $40,000. Finally, Capital Performance Advisors LLP bought a new stake in Textron during the third quarter worth about $42,000. Institutional investors own 86.03% of the company’s stock.

Textron Trading Down 0.2 %

Shares of TXT stock opened at $80.92 on Friday. Textron Inc. has a 12-month low of $76.98 and a 12-month high of $97.33. The firm has a 50 day moving average price of $84.94 and a two-hundred day moving average price of $86.74. 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 company has a market capitalization 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 (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). Textron had a net margin of 6.30% and a return on equity of 16.02%. The firm had revenue of $3.43 billion during the quarter, compared to the consensus estimate of $3.50 billion. During the same quarter last year, the firm earned $1.49 earnings per share. The business’s revenue for the quarter was up 2.5% compared to the same quarter last year. As a group, analysts predict that Textron Inc. will post 5.52 earnings per share for the current year.

Textron Announces Dividend

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

Analyst Upgrades and Downgrades

Several research analysts have weighed in on TXT shares. UBS Group lowered their price target on Textron from $87.00 to $79.00 and set a “sell” rating on the stock in a research report on Friday, October 25th. JPMorgan Chase & Co. dropped their price target on shares of Textron from $100.00 to $95.00 and set a “neutral” rating on the stock in a research report on Monday, October 14th. TD Cowen lowered shares of Textron from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $103.00 to $95.00 in a research note 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. Finally, Robert W. Baird reduced 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. One equities 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, 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.