Mutual of America Capital Management LLC Decreases Stake in Textron Inc. (NYSE:TXT)

Mutual of America Capital Management LLC cut its stake in Textron Inc. (NYSE:TXT) by 4.1% during the 3rd quarter, HoldingsChannel reports. The firm owned 23,041 shares of the aerospace company’s stock after selling 981 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Textron were worth $2,041,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TXT. Boston Partners grew its stake in Textron by 1.4% during the 1st quarter. Boston Partners now owns 7,116,231 shares of the aerospace company’s stock valued at $682,475,000 after purchasing an additional 99,868 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Textron by 6.1% in the second quarter. Dimensional Fund Advisors LP now owns 2,808,600 shares of the aerospace company’s stock valued at $241,152,000 after buying an additional 160,923 shares during the last quarter. Brandes Investment Partners LP raised its stake in Textron by 20.0% during the second quarter. Brandes Investment Partners LP now owns 1,549,551 shares of the aerospace company’s stock valued at $133,096,000 after buying an additional 258,778 shares in the last quarter. AQR Capital Management LLC lifted its holdings in Textron by 18.9% during the 2nd quarter. AQR Capital Management LLC now owns 1,451,293 shares of the aerospace company’s stock worth $124,608,000 after buying an additional 231,173 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of Textron by 0.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,398,779 shares of the aerospace company’s stock worth $120,099,000 after acquiring an additional 6,175 shares in the last quarter. Hedge funds and other institutional investors own 86.03% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Robert W. Baird lowered their target price on shares of Textron from $109.00 to $100.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. UBS Group lowered their target price on Textron from $87.00 to $79.00 and set a “sell” rating for the company in a report on Friday, October 25th. Morgan Stanley downgraded Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 price objective for the company. in a research note on Thursday, August 8th. JPMorgan Chase & Co. decreased 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. Finally, StockNews.com downgraded Textron from a “strong-buy” rating to a “buy” rating in a research note on Thursday, September 12th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Textron presently has an average rating of “Moderate Buy” and a consensus price target of $101.56.

Textron Price Performance

NYSE TXT opened at $85.38 on Monday. The stock has a market capitalization of $15.84 billion, a P/E ratio of 18.76, a P/E/G ratio of 1.54 and a beta of 1.24. Textron Inc. has a 1 year low of $74.13 and a 1 year high of $97.33. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.82 and a current ratio of 1.83. The business’s fifty day moving average is $86.02 and its two-hundred day moving average is $87.21.

Textron (NYSE:TXT) last released its earnings results on Thursday, October 24th. The aerospace company reported $1.40 EPS for the quarter, missing the consensus estimate of $1.49 by ($0.09). The company had revenue of $3.43 billion for the quarter, compared to analyst estimates of $3.50 billion. Textron had a net margin of 6.30% and a return on equity of 16.02%. Textron’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.49 earnings per share. On average, research analysts forecast that Textron Inc. will post 5.53 earnings per share for the current fiscal year.

Textron Dividend Announcement

The firm also recently announced 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. This represents a $0.08 annualized dividend and a dividend yield of 0.09%. The ex-dividend date is Friday, December 13th. Textron’s payout ratio is 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.