Lincoln Capital Corp Sells 1,690 Shares of Textron Inc. (NYSE:TXT)

Lincoln Capital Corp reduced its holdings in shares of Textron Inc. (NYSE:TXT) by 2.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 56,049 shares of the aerospace company’s stock after selling 1,690 shares during the quarter. Textron makes up approximately 2.3% of Lincoln Capital Corp’s holdings, making the stock its 16th biggest position. Lincoln Capital Corp’s holdings in Textron were worth $2,744,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Parallel Advisors LLC grew its stake in shares of Textron by 73.1% during the 2nd quarter. Parallel Advisors LLC now owns 509 shares of the aerospace company’s stock worth $27,000 after acquiring an additional 215 shares in the last quarter. NEXT Financial Group Inc bought a new position in shares of Textron during the 2nd quarter worth approximately $32,000. HM Payson & Co. bought a new position in shares of Textron during the 2nd quarter worth approximately $34,000. Trust Co. of Vermont bought a new position in shares of Textron during the 2nd quarter worth approximately $42,000. Finally, CSat Investment Advisory L.P. grew its stake in shares of Textron by 87.3% during the 2nd quarter. CSat Investment Advisory L.P. now owns 884 shares of the aerospace company’s stock worth $47,000 after acquiring an additional 412 shares in the last quarter. 82.98% of the stock is owned by institutional investors.

Shares of NYSE:TXT traded down $0.52 during midday trading on Friday, hitting $46.61. The stock had a trading volume of 1,263,878 shares, compared to its average volume of 1,609,286. Textron Inc. has a 12 month low of $42.30 and a 12 month high of $58.00. The company has a quick ratio of 0.97, a current ratio of 2.15 and a debt-to-equity ratio of 0.66. The business’s 50-day simple moving average is $48.05 and its 200-day simple moving average is $49.02. The company has a market cap of $10.80 billion, a P/E ratio of 13.96, a PEG ratio of 1.39 and a beta of 1.73.

Textron (NYSE:TXT) last released its earnings results on Thursday, October 17th. The aerospace company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.10. Textron had a net margin of 6.46% and a return on equity of 16.88%. The business had revenue of $3.26 billion during the quarter, compared to analysts’ expectations of $3.31 billion. During the same period last year, the business earned $0.61 earnings per share. The firm’s revenue was up 1.8% on a year-over-year basis. As a group, equities analysts predict that Textron Inc. will post 3.73 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Friday, December 13th will be given a dividend of $0.02 per share. The ex-dividend date is Thursday, December 12th. This represents a $0.08 dividend on an annualized basis and a yield of 0.17%. Textron’s dividend payout ratio (DPR) is 2.40%.

TXT has been the subject of several analyst reports. Morgan Stanley raised their target price on shares of Textron from $49.00 to $51.00 and gave the company an “equal weight” rating in a research note on Thursday, October 10th. Credit Suisse Group decreased their target price on shares of Textron from $52.00 to $50.00 and set a “neutral” rating for the company in a research note on Friday, October 18th. Robert W. Baird decreased their target price on shares of Textron from $64.00 to $58.00 and set an “outperform” rating for the company in a research note on Friday, October 18th. Vertical Research cut shares of Textron from a “buy” rating to a “hold” rating and decreased their target price for the company from $56.00 to $54.00 in a research note on Friday, September 27th. Finally, Cowen reissued a “buy” rating and issued a $60.00 target price on shares of Textron in a research note on Thursday, October 17th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $54.25.

About Textron

Textron Inc operates in the aircraft, defense, industrial, and finance businesses worldwide. The company's Textron Aviation segment manufactures and sells business jets, turboprop and piston engine aircraft, and military trainer and defense aircraft; and commercial parts, as well as provides maintenance, inspection, and repair services.

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Institutional Ownership by Quarter for Textron (NYSE:TXT)

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