M&T Bank Corp Has $1.51 Million Stake in Textron Inc. (NYSE:TXT)

M&T Bank Corp grew its holdings in Textron Inc. (NYSE:TXT) by 2.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 17,101 shares of the aerospace company’s stock after purchasing an additional 382 shares during the quarter. M&T Bank Corp’s holdings in Textron were worth $1,514,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the business. Assenagon Asset Management S.A. lifted its position in Textron by 6.0% during the 2nd quarter. Assenagon Asset Management S.A. now owns 4,822 shares of the aerospace company’s stock worth $414,000 after buying an additional 275 shares in the last quarter. Raymond James & Associates lifted its position in shares of Textron by 4.0% during the second quarter. Raymond James & Associates now owns 210,892 shares of the aerospace company’s stock worth $18,107,000 after purchasing an additional 8,168 shares in the last quarter. Hennion & Walsh Asset Management Inc. grew its stake in shares of Textron by 47.5% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 7,547 shares of the aerospace company’s stock valued at $648,000 after purchasing an additional 2,429 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Textron in the second quarter valued at approximately $30,000. Finally, New York State Teachers Retirement System raised its position in Textron by 4.1% in the 2nd quarter. New York State Teachers Retirement System now owns 208,903 shares of the aerospace company’s stock worth $17,936,000 after purchasing an additional 8,230 shares during the last quarter. Institutional investors own 86.03% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on TXT shares. Robert W. Baird lowered their target price on Textron from $109.00 to $100.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. JPMorgan Chase & Co. dropped 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. UBS Group reduced their target price on shares of Textron from $87.00 to $79.00 and set a “sell” rating on the stock in a research note on Friday, October 25th. StockNews.com downgraded shares of Textron from a “strong-buy” rating to a “buy” rating in a research note on Thursday, September 12th. Finally, TD Cowen lowered shares of Textron from a “buy” rating to a “hold” rating and lowered their target price for the stock from $103.00 to $95.00 in a report on Wednesday, September 25th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $101.56.

Textron Stock Down 0.2 %

Shares of Textron stock opened at $80.92 on Friday. The company has a market capitalization of $15.01 billion, a P/E ratio of 17.78, a price-to-earnings-growth ratio of 1.46 and a beta of 1.25. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.83 and a quick ratio of 0.82. The business has a 50-day moving average of $84.94 and a two-hundred day moving average of $86.74. Textron Inc. has a 1 year low of $76.98 and a 1 year high of $97.33.

Textron (NYSE:TXT) last posted its earnings results on Thursday, October 24th. The aerospace company reported $1.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.09). Textron had a return on equity of 16.02% and a net margin of 6.30%. The business had revenue of $3.43 billion for the quarter, compared to the consensus estimate of $3.50 billion. During the same period in the previous year, the company posted $1.49 earnings per share. Textron’s revenue for the quarter was up 2.5% compared to the same quarter last year. As a group, equities analysts predict that Textron Inc. will post 5.52 EPS for the current year.

Textron Announces Dividend

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

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.