Boys Arnold & Co. Inc. reduced its stake in Textron Inc. (NYSE:TXT) by 5.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 19,970 shares of the aerospace company’s stock after selling 1,150 shares during the quarter. Boys Arnold & Co. Inc.’s holdings in Textron were worth $1,076,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of TXT. Highbridge Capital Management LLC lifted its holdings in shares of Textron by 153.1% in the 1st quarter. Highbridge Capital Management LLC now owns 5,308 shares of the aerospace company’s stock worth $253,000 after acquiring an additional 15,308 shares during the last quarter. Paloma Partners Management Co lifted its holdings in shares of Textron by 141.7% in the 1st quarter. Paloma Partners Management Co now owns 27,712 shares of the aerospace company’s stock worth $1,319,000 after acquiring an additional 16,247 shares during the last quarter. HighTower Advisors LLC lifted its holdings in shares of Textron by 14.8% in the 1st quarter. HighTower Advisors LLC now owns 26,735 shares of the aerospace company’s stock worth $1,274,000 after acquiring an additional 3,448 shares during the last quarter. Janus Capital Management LLC lifted its holdings in shares of Textron by 273.2% in the 1st quarter. Janus Capital Management LLC now owns 137,443 shares of the aerospace company’s stock worth $6,541,000 after acquiring an additional 100,615 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. lifted its holdings in shares of Textron by 2.1% in the 1st quarter. Nomura Asset Management Co. Ltd. now owns 35,125 shares of the aerospace company’s stock worth $1,672,000 after acquiring an additional 706 shares during the last quarter. Hedge funds and other institutional investors own 81.32% of the company’s stock.

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TXT has been the topic of several recent analyst reports. Zacks Investment Research upgraded shares of Textron from a “hold” rating to a “buy” rating and set a $55.00 price objective on the stock in a report on Tuesday, July 18th. Drexel Hamilton upgraded shares of Textron from a “hold” rating to a “buy” rating and set a $58.00 price objective on the stock in a report on Monday, September 11th. ValuEngine upgraded shares of Textron from a “hold” rating to a “buy” rating in a report on Friday, September 8th. Credit Suisse Group restated an “outperform” rating and issued a $55.00 price objective (up from $50.00) on shares of Textron in a report on Thursday, July 20th. Finally, Bank of America Corporation lowered shares of Textron from a “buy” rating to an “underperform” rating and decreased their price objective for the stock from $53.00 to $45.00 in a report on Friday, July 21st. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $56.92.

Textron Inc. (NYSE:TXT) traded up 0.53% during midday trading on Tuesday, reaching $52.88. 539,919 shares of the company’s stock were exchanged. The firm has a market capitalization of $14.00 billion, a P/E ratio of 16.17 and a beta of 1.59. Textron Inc. has a 52 week low of $38.79 and a 52 week high of $55.80. The stock’s 50 day moving average is $53.48 and its 200 day moving average is $49.28.

Textron (NYSE:TXT) last announced its quarterly earnings results on Thursday, October 19th. The aerospace company reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.03. The firm had revenue of $3.48 billion for the quarter, compared to analysts’ expectations of $3.55 billion. Textron had a net margin of 4.48% and a return on equity of 12.02%. Textron’s revenue was up 7.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.61 earnings per share. On average, analysts expect that Textron Inc. will post $2.48 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 1st. Shareholders of record on Friday, December 15th will be given a dividend of $0.02 per share. The ex-dividend date is Thursday, December 14th. This represents a $0.08 dividend on an annualized basis and a yield of 0.15%. Textron’s dividend payout ratio (DPR) is 3.45%.

About Textron

Textron Inc is a multi-industry company engaged in aircraft, defense, industrial and finance businesses to provide customers with products and services across the world. The Company operates through five segments: Textron Aviation, Bell, Textron Systems, Industrial and Finance. The Textron Aviation segment is engaged in general aviation.

Institutional Ownership by Quarter for Textron (NYSE:TXT)

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