Intrust Bank NA Trims Stake in Textron Inc. (NYSE:TXT)

Intrust Bank NA cut its stake in shares of Textron Inc. (NYSE:TXT) by 5.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,032 shares of the aerospace company’s stock after selling 213 shares during the period. Intrust Bank NA’s holdings in Textron were worth $324,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. CVA Family Office LLC purchased a new stake in Textron in the 4th quarter worth approximately $29,000. Trust Co. of Vermont purchased a new position in shares of Textron during the 3rd quarter valued at $37,000. Provence Wealth Management Group bought a new position in Textron in the 3rd quarter worth $39,000. Morton Brown Family Wealth LLC purchased a new stake in Textron in the 4th quarter worth $40,000. Finally, Quent Capital LLC raised its holdings in Textron by 29.2% during the fourth quarter. Quent Capital LLC now owns 633 shares of the aerospace company’s stock valued at $51,000 after acquiring an additional 143 shares during the period. Institutional investors own 86.03% of the company’s stock.

Textron Price Performance

NYSE:TXT opened at $84.77 on Thursday. The firm has a market capitalization of $16.17 billion, a price-to-earnings ratio of 18.11, a PEG ratio of 1.33 and a beta of 1.32. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.81 and a quick ratio of 0.84. The business has a 50 day simple moving average of $92.12 and a 200-day simple moving average of $84.03. Textron Inc. has a 1 year low of $61.27 and a 1 year high of $97.33.

Textron (NYSE:TXT) last posted its quarterly earnings data on Thursday, April 25th. The aerospace company reported $1.20 earnings per share for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.08). The firm had revenue of $3.14 billion for the quarter, compared to the consensus estimate of $3.29 billion. Textron had a net margin of 6.75% and a return on equity of 16.30%. The company’s revenue was up 3.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.05 EPS. Equities analysts forecast that Textron Inc. will post 6.27 EPS for the current year.

Textron Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be paid a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.09%. The ex-dividend date of this dividend is Friday, June 14th. Textron’s payout ratio is currently 1.71%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on TXT shares. UBS Group increased their target price on Textron from $77.00 to $81.00 and gave the stock a “sell” rating in a research report on Friday, January 26th. Bank of America upgraded shares of Textron from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $85.00 to $105.00 in a research report on Friday, March 8th. StockNews.com lowered shares of Textron from a “strong-buy” rating to a “buy” rating in a research report on Friday, April 26th. Citigroup lifted their price target on shares of Textron from $104.00 to $111.00 and gave the company a “buy” rating in a report on Thursday, April 4th. Finally, The Goldman Sachs Group increased their price objective on shares of Textron from $103.00 to $120.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat, Textron presently has a consensus rating of “Moderate Buy” and an average target price of $95.63.

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.