Textron Inc. (NYSE:TXT) Stock Holdings Reduced by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lessened its position in Textron Inc. (NYSE:TXT - Free Report) by 74.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 16,222 shares of the aerospace company's stock after selling 48,066 shares during the period. Allspring Global Investments Holdings LLC's holdings in Textron were worth $1,229,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Robeco Institutional Asset Management B.V. raised its stake in shares of Textron by 3.3% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 511,770 shares of the aerospace company's stock worth $39,145,000 after buying an additional 16,359 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Textron by 0.9% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 475,420 shares of the aerospace company's stock worth $36,365,000 after buying an additional 4,381 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Textron by 18.0% in the 3rd quarter. Wellington Management Group LLP now owns 401,475 shares of the aerospace company's stock worth $35,563,000 after buying an additional 61,248 shares in the last quarter. BNP Paribas Financial Markets raised its stake in shares of Textron by 14.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 398,366 shares of the aerospace company's stock worth $35,287,000 after buying an additional 50,936 shares in the last quarter. Finally, National Pension Service raised its stake in shares of Textron by 2.6% in the 3rd quarter. National Pension Service now owns 368,481 shares of the aerospace company's stock worth $32,640,000 after buying an additional 9,491 shares in the last quarter. Institutional investors own 86.03% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently commented on TXT. Susquehanna dropped their price objective on Textron from $100.00 to $90.00 and set a "positive" rating on the stock in a research note on Wednesday, January 8th. JPMorgan Chase & Co. cut their target price on Textron from $90.00 to $88.00 and set a "neutral" rating on the stock in a research report on Thursday, January 16th. TD Cowen raised Textron to a "hold" rating in a research report on Thursday, December 19th. Barclays cut their target price on Textron from $104.00 to $95.00 and set an "overweight" rating on the stock in a research report on Monday, December 23rd. Finally, Bank of America lowered Textron from a "buy" rating to a "neutral" rating and cut their target price for the stock from $110.00 to $85.00 in a research report on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $93.45.

Textron Stock Up 0.3 %

NYSE:TXT traded up $0.22 during trading hours on Monday, hitting $72.56. 1,234,422 shares of the company's stock traded hands, compared to its average volume of 1,348,244. The firm has a market cap of $13.25 billion, a P/E ratio of 16.84, a P/E/G ratio of 1.18 and a beta of 1.27. Textron Inc. has a twelve month low of $71.67 and a twelve month high of $97.33. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.84 and a current ratio of 1.76. The stock's fifty day moving average price is $76.03 and its two-hundred day moving average price is $82.60.

Textron (NYSE:TXT - Get Free Report) last posted its quarterly earnings results on Wednesday, January 22nd. The aerospace company reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.27 by $0.07. The firm had revenue of $3.61 billion for the quarter, compared to analyst estimates of $3.78 billion. Textron had a return on equity of 14.92% and a net margin of 6.01%. Textron's quarterly revenue was down 7.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.60 earnings per share. On average, research analysts expect that Textron Inc. will post 6.12 earnings per share for the current fiscal year.

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.