Wedmont Private Capital Has $483,000 Stake in Textron Inc. (NYSE:TXT)

Wedmont Private Capital lifted its holdings in shares of Textron Inc. (NYSE:TXTFree Report) by 3.7% during the fourth quarter, HoldingsChannel reports. The firm owned 6,129 shares of the aerospace company’s stock after acquiring an additional 218 shares during the quarter. Wedmont Private Capital’s holdings in Textron were worth $483,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. First Hawaiian Bank acquired a new stake in Textron in the 4th quarter valued at approximately $456,000. Channel Wealth LLC bought a new position in Textron in the fourth quarter valued at approximately $257,000. Capital Market Strategies LLC grew its stake in Textron by 7.7% in the fourth quarter. Capital Market Strategies LLC now owns 6,305 shares of the aerospace company’s stock valued at $507,000 after purchasing an additional 450 shares in the last quarter. Diversified Trust Co bought a new position in Textron in the fourth quarter valued at approximately $485,000. Finally, Fulton Bank N.A. increased its holdings in shares of Textron by 3.4% during the 4th quarter. Fulton Bank N.A. now owns 9,177 shares of the aerospace company’s stock worth $738,000 after acquiring an additional 303 shares during the last quarter. Institutional investors and hedge funds own 85.92% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on TXT. The Goldman Sachs Group reissued a “buy” rating and set a $98.00 target price on shares of Textron in a report on Tuesday, January 2nd. Citigroup upped their price objective on Textron from $102.00 to $104.00 and gave the company a “buy” rating in a report on Thursday, January 25th. StockNews.com raised Textron from a “buy” rating to a “strong-buy” rating in a report on Thursday, January 25th. Bank of America upgraded Textron from a “neutral” rating to a “buy” rating and upped their target price for the company from $85.00 to $105.00 in a research report on Friday, March 8th. Finally, UBS Group upped their target price on Textron from $77.00 to $81.00 and gave the company a “sell” rating in a research report on Friday, January 26th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $90.00.

View Our Latest Report on TXT

Textron Trading Up 0.2 %

Shares of TXT stock opened at $93.10 on Tuesday. The stock has a market cap of $17.91 billion, a price-to-earnings ratio of 20.37, a PEG ratio of 1.46 and a beta of 1.29. The stock has a 50-day moving average of $85.45 and a 200-day moving average of $80.35. The company has a current ratio of 1.92, a quick ratio of 1.03 and a debt-to-equity ratio of 0.50. Textron Inc. has a 1-year low of $61.27 and a 1-year high of $93.71.

Textron (NYSE:TXTGet Free Report) last released its earnings results on Wednesday, January 24th. The aerospace company reported $1.60 EPS for the quarter, topping the consensus estimate of $1.53 by $0.07. Textron had a return on equity of 16.05% and a net margin of 6.73%. The business had revenue of $3.89 billion during the quarter, compared to analysts’ expectations of $3.97 billion. During the same quarter last year, the firm posted $1.07 earnings per share. The firm’s revenue was up 7.0% on a year-over-year basis. On average, equities research analysts forecast that Textron Inc. will post 6.27 earnings per share for the current year.

Textron Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Investors of record on Friday, March 15th will be paid a dividend of $0.02 per share. The ex-dividend date is Thursday, March 14th. This represents a $0.08 annualized dividend and a yield of 0.09%. Textron’s dividend payout ratio is currently 1.75%.

About Textron

(Free Report)

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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Institutional Ownership by Quarter for Textron (NYSE:TXT)

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