Virtu Financial LLC Sells 1,157 Shares of Textron Inc. (NYSE:TXT)

Virtu Financial LLC decreased its holdings in shares of Textron Inc. (NYSE:TXT) by 27.5% during the third quarter, HoldingsChannel reports. The institutional investor owned 3,046 shares of the aerospace company’s stock after selling 1,157 shares during the period. Virtu Financial LLC’s holdings in Textron were worth $270,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Brandes Investment Partners LP grew its position in Textron by 20.0% in the 2nd quarter. Brandes Investment Partners LP now owns 1,549,551 shares of the aerospace company’s stock valued at $133,096,000 after acquiring an additional 258,778 shares during the last quarter. AQR Capital Management LLC grew its holdings in shares of Textron by 18.9% in the second quarter. AQR Capital Management LLC now owns 1,451,293 shares of the aerospace company’s stock worth $124,608,000 after purchasing an additional 231,173 shares during the last quarter. Fidelity National Financial Inc. purchased a new position in Textron in the 2nd quarter worth about $19,748,000. Distillate Capital Partners LLC lifted its holdings in Textron by 101,299.4% during the 2nd quarter. Distillate Capital Partners LLC now owns 166,295 shares of the aerospace company’s stock valued at $14,278,000 after buying an additional 166,131 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Textron by 6.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,808,600 shares of the aerospace company’s stock valued at $241,152,000 after buying an additional 160,923 shares during the period. 86.03% of the stock is currently owned by hedge funds and other institutional investors.

Textron Stock Down 1.6 %

NYSE:TXT opened at $80.07 on Wednesday. The company’s 50-day simple moving average is $84.76 and its 200-day simple moving average is $86.66. 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 fifty-two week low of $76.98 and a fifty-two week high of $97.33. The stock has a market capitalization of $14.85 billion, a P/E ratio of 17.60, a P/E/G 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 return on equity of 16.02% and a net margin of 6.30%. The firm had revenue of $3.43 billion during the quarter, compared to analysts’ expectations of $3.50 billion. During the same period in the prior year, the firm posted $1.49 earnings per share. Textron’s revenue for the quarter was up 2.5% compared to the same quarter last year. On average, equities analysts anticipate that Textron Inc. will post 5.52 earnings per share for the current fiscal year.

Textron Announces Dividend

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

Wall Street Analysts Forecast Growth

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

Textron Company 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.