Citizens Financial Group Inc. RI Reduces Holdings in Textron Inc. (NYSE:TXT)

Citizens Financial Group Inc. RI cut its stake in shares of Textron Inc. (NYSE:TXT) by 2.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 66,057 shares of the aerospace company’s stock after selling 1,499 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in Textron were worth $5,312,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Adage Capital Partners GP L.L.C. lifted its holdings in Textron by 93.7% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,474,191 shares of the aerospace company’s stock worth $115,193,000 after buying an additional 713,169 shares during the period. Swiss National Bank purchased a new stake in Textron in the 3rd quarter worth approximately $50,696,000. JPMorgan Chase & Co. lifted its holdings in Textron by 11.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,745,108 shares of the aerospace company’s stock worth $448,923,000 after buying an additional 596,214 shares during the period. International Assets Investment Management LLC purchased a new stake in Textron in the 4th quarter worth approximately $394,347,000. Finally, Primecap Management Co. CA lifted its holdings in Textron by 9.7% in the 3rd quarter. Primecap Management Co. CA now owns 5,394,200 shares of the aerospace company’s stock worth $421,503,000 after buying an additional 477,720 shares during the period. 86.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TXT has been the subject of a number of research analyst reports. UBS Group raised their target price on Textron from $77.00 to $81.00 and gave the company a “sell” rating in a research note on Friday, January 26th. Citigroup raised their price objective on Textron from $104.00 to $111.00 and gave the company a “buy” rating in a research report on Thursday, April 4th. The Goldman Sachs Group raised their price objective on Textron from $103.00 to $120.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Susquehanna reduced their price objective on Textron from $110.00 to $105.00 and set a “positive” rating for the company in a research report on Friday. Finally, Bank of America raised Textron from a “neutral” rating to a “buy” rating and raised their price objective for the company from $85.00 to $105.00 in a research report on Friday, March 8th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $95.63.

Textron Stock Up 1.9 %

Shares of Textron stock traded up $1.61 on Friday, reaching $86.51. The company’s stock had a trading volume of 2,678,528 shares, compared to its average volume of 1,219,291. The company has a market capitalization of $16.64 billion, a price-to-earnings ratio of 18.49, a P/E/G ratio of 1.33 and a beta of 1.30. The firm’s fifty day simple moving average is $92.10 and its two-hundred day simple moving average is $83.86. Textron Inc. has a 52 week low of $61.27 and a 52 week high of $97.33. The company has a quick ratio of 1.03, a current ratio of 1.66 and a debt-to-equity ratio of 0.41.

Textron (NYSE:TXT) last posted its earnings results on Thursday, April 25th. The aerospace company reported $1.20 EPS for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.08). The business had revenue of $3.14 billion during the quarter, compared to the consensus estimate of $3.29 billion. Textron had a return on equity of 16.30% and a net margin of 6.75%. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same period in the previous year, the business posted $1.05 EPS. Equities analysts anticipate that Textron Inc. will post 6.3 earnings per share for the current year.

Textron Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be issued a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.09%. The ex-dividend date is Friday, June 14th. Textron’s payout ratio is 1.71%.

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.