First Western Trust Bank reduced its stake in Textron Inc. (NYSE:TXT – Free Report) by 12.3% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 3,691 shares of the aerospace company’s stock after selling 520 shares during the quarter. First Western Trust Bank’s holdings in Textron were worth $250,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in TXT. FMR LLC boosted its holdings in Textron by 93.4% in the 1st quarter. FMR LLC now owns 3,057,710 shares of the aerospace company’s stock valued at $215,966,000 after purchasing an additional 1,476,395 shares during the period. LSV Asset Management lifted its stake in shares of Textron by 51.4% in the second quarter. LSV Asset Management now owns 3,041,211 shares of the aerospace company’s stock valued at $205,677,000 after buying an additional 1,032,353 shares during the period. JPMorgan Chase & Co. grew its position in Textron by 27.7% during the first quarter. JPMorgan Chase & Co. now owns 4,596,887 shares of the aerospace company’s stock worth $324,678,000 after buying an additional 997,119 shares in the last quarter. Man Group plc bought a new position in Textron during the fourth quarter valued at about $64,467,000. Finally, Great Lakes Advisors LLC lifted its position in shares of Textron by 276.1% in the 1st quarter. Great Lakes Advisors LLC now owns 1,122,704 shares of the aerospace company’s stock worth $79,297,000 after acquiring an additional 824,209 shares during the period. Institutional investors own 85.92% of the company’s stock.
Analyst Ratings Changes
Several analysts recently commented on TXT shares. Bank of America boosted their price target on Textron from $76.00 to $85.00 and gave the company a “neutral” rating in a research note on Tuesday, August 15th. Susquehanna reiterated a “positive” rating on shares of Textron in a research report on Friday, October 27th. StockNews.com raised Textron from a “buy” rating to a “strong-buy” rating in a report on Friday, October 27th. UBS Group initiated coverage on shares of Textron in a research report on Tuesday, October 10th. They set a “sell” rating and a $73.00 target price on the stock. Finally, Citigroup upped their price objective on Textron from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Friday, July 28th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Textron has an average rating of “Moderate Buy” and an average target price of $84.71.
Textron Price Performance
NYSE:TXT opened at $77.73 on Tuesday. The stock’s 50-day simple moving average is $77.08 and its 200 day simple moving average is $72.32. Textron Inc. has a 52-week low of $61.27 and a 52-week high of $81.39. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.92 and a current ratio of 1.88. The company has a market cap of $15.24 billion, a P/E ratio of 16.81, a P/E/G ratio of 1.18 and a beta of 1.40.
Textron (NYSE:TXT – Get Free Report) last posted its quarterly earnings results on Thursday, October 26th. The aerospace company reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.22. Textron had a net margin of 7.07% and a return on equity of 14.70%. The firm had revenue of $3.34 billion for the quarter, compared to analyst estimates of $3.48 billion. During the same period in the prior year, the firm posted $1.06 earnings per share. The company’s quarterly revenue was up 8.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Textron Inc. will post 5.54 EPS for the current fiscal year.
Textron Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Monday, January 1st. Stockholders of record on Friday, December 15th will be paid a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.10%. The ex-dividend date is Thursday, December 14th. Textron’s dividend payout ratio is presently 1.72%.
Insider Buying and Selling
In other news, Director R Kerry Clark sold 9,353 shares of the company’s stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $75.10, for a total value of $702,410.30. Following the transaction, the director now owns 4,517 shares of the company’s stock, valued at $339,226.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.70% of the stock is currently owned by insiders.
Textron Company 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.
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