Grimes & Company Inc. Sells 216 Shares of Textron Inc. (NYSE:TXT)

Grimes & Company Inc. decreased its stake in shares of Textron Inc. (NYSE:TXT) by 0.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 76,319 shares of the aerospace company’s stock after selling 216 shares during the period. Grimes & Company Inc.’s holdings in Textron were worth $6,760,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Park Avenue Securities LLC boosted its position in Textron by 73.8% in the first quarter. Park Avenue Securities LLC now owns 10,679 shares of the aerospace company’s stock worth $1,024,000 after purchasing an additional 4,535 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Textron by 7.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 17,907 shares of the aerospace company’s stock valued at $1,718,000 after acquiring an additional 1,316 shares during the last quarter. Lincoln Capital Corp raised its position in Textron by 1.4% during the 1st quarter. Lincoln Capital Corp now owns 33,953 shares of the aerospace company’s stock valued at $3,257,000 after purchasing an additional 469 shares during the last quarter. Capital Asset Advisory Services LLC bought a new position in Textron during the 1st quarter valued at approximately $286,000. Finally, Hennion & Walsh Asset Management Inc. purchased a new position in shares of Textron during the 1st quarter worth approximately $491,000. Hedge funds and other institutional investors own 86.03% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on TXT shares. StockNews.com cut Textron from a “strong-buy” rating to a “buy” rating in a research report on Thursday, September 12th. Citigroup increased their price target on Textron from $111.00 to $115.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Bank of America increased their price target on Textron from $105.00 to $110.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. UBS Group increased their price target on Textron from $84.00 to $87.00 and gave the stock a “sell” rating in a research note on Friday, July 19th. Finally, TD Cowen lowered Textron from a “buy” rating to a “hold” rating and dropped their price target for the stock from $103.00 to $95.00 in a research report on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Textron has a consensus rating of “Hold” and a consensus target price of $102.75.

Textron Stock Down 6.5 %

NYSE TXT traded down $5.67 on Thursday, hitting $81.20. The stock had a trading volume of 179,265 shares, compared to its average volume of 1,060,636. The business’s fifty day moving average price is $87.94 and its 200 day moving average price is $88.23. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.79 and a quick ratio of 0.81. Textron Inc. has a 52-week low of $74.13 and a 52-week high of $97.33. The stock has a market cap of $15.21 billion, a price-to-earnings ratio of 17.20, a price-to-earnings-growth ratio of 1.43 and a beta of 1.23.

Textron Announces Dividend

The company 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%. Textron’s dividend payout ratio is currently 1.69%.

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.