Textron Inc. (TXT) Shares Bought by Citizens Financial Group Inc. RI

Citizens Financial Group Inc. RI raised its stake in shares of Textron Inc. (NYSE:TXT) by 100.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 39,200 shares of the aerospace company’s stock after acquiring an additional 19,600 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in Textron were worth $2,112,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Intrust Bank NA boosted its stake in Textron by 0.6% during the 2nd quarter. Intrust Bank NA now owns 5,892 shares of the aerospace company’s stock valued at $277,000 after acquiring an additional 33 shares during the last quarter. Veritable L.P. lifted its position in shares of Textron by 0.3% in the 2nd quarter. Veritable L.P. now owns 12,868 shares of the aerospace company’s stock worth $606,000 after buying an additional 44 shares during the last quarter. Canandaigua National Bank & Trust Co. lifted its position in shares of Textron by 1.6% in the 2nd quarter. Canandaigua National Bank & Trust Co. now owns 4,815 shares of the aerospace company’s stock worth $227,000 after buying an additional 75 shares during the last quarter. CIBC Asset Management Inc lifted its position in shares of Textron by 0.4% in the 2nd quarter. CIBC Asset Management Inc now owns 25,070 shares of the aerospace company’s stock worth $1,181,000 after buying an additional 98 shares during the last quarter. Finally, Conning Inc. lifted its position in shares of Textron by 1.7% in the 2nd quarter. Conning Inc. now owns 5,997 shares of the aerospace company’s stock worth $282,000 after buying an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 82.03% of the company’s stock.

Textron Inc. (NYSE TXT) traded down $1.17 during mid-day trading on Wednesday, hitting $54.01. 1,342,800 shares of the company were exchanged, compared to its average volume of 1,549,328. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.96 and a current ratio of 2.08. Textron Inc. has a 1-year low of $43.66 and a 1-year high of $56.47. The firm has a market cap of $14,535.54, a PE ratio of 21.98, a PEG ratio of 2.53 and a beta of 1.57.

Textron (NYSE:TXT) last released its quarterly earnings data on Thursday, October 19th. The aerospace company reported $0.65 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.62 by $0.03. Textron had a net margin of 4.48% and a return on equity of 12.02%. The business had revenue of $3.48 billion for the quarter, compared to analysts’ expectations of $3.55 billion. During the same quarter last year, the company earned $0.61 EPS. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. analysts expect that Textron Inc. will post 2.47 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 1st. Investors of record on Friday, December 15th will be issued a $0.02 dividend. The ex-dividend date is Thursday, December 14th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.15%. Textron’s dividend payout ratio (DPR) is presently 3.45%.

A number of research analysts have recently issued reports on the stock. ValuEngine downgraded shares of Textron from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. Zacks Investment Research downgraded shares of Textron from a “hold” rating to a “sell” rating in a research report on Tuesday, November 7th. Cowen restated a “buy” rating and issued a $60.00 price target on shares of Textron in a research report on Tuesday, November 28th. Jefferies Group restated a “buy” rating and issued a $65.00 price target on shares of Textron in a research report on Friday, October 20th. Finally, Stephens restated an “equal weight” rating and issued a $63.00 price target (up from $54.00) on shares of Textron in a research report on Friday, October 13th. Four investment analysts have rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $57.82.

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Textron Company Profile

Textron Inc is a multi-industry company engaged in aircraft, defense, industrial and finance businesses to provide customers with products and services across the world. The Company operates through five segments: Textron Aviation, Bell, Textron Systems, Industrial and Finance. The Textron Aviation segment is engaged in general aviation.

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Institutional Ownership by Quarter for Textron (NYSE:TXT)

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