Asset Management One Co. Ltd. decreased its stake in Textron Inc. (NYSE:TXT - Free Report) by 16.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 67,214 shares of the aerospace company's stock after selling 13,054 shares during the period. Asset Management One Co. Ltd.'s holdings in Textron were worth $5,190,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in TXT. Merit Financial Group LLC grew its position in Textron by 5.9% in the 4th quarter. Merit Financial Group LLC now owns 4,784 shares of the aerospace company's stock worth $366,000 after purchasing an additional 265 shares during the last quarter. Empowered Funds LLC boosted its position in shares of Textron by 28.6% during the fourth quarter. Empowered Funds LLC now owns 20,132 shares of the aerospace company's stock worth $1,540,000 after buying an additional 4,480 shares during the period. Franklin Resources Inc. grew its holdings in Textron by 10.3% in the 3rd quarter. Franklin Resources Inc. now owns 164,029 shares of the aerospace company's stock worth $14,505,000 after buying an additional 15,294 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in Textron by 44.6% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,390 shares of the aerospace company's stock valued at $1,343,000 after acquiring an additional 5,367 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. increased its position in Textron by 0.9% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 475,420 shares of the aerospace company's stock valued at $36,365,000 after acquiring an additional 4,381 shares during the period. Institutional investors and hedge funds own 86.03% of the company's stock.
Textron Price Performance
TXT stock traded down $0.09 on Friday, hitting $72.34. 1,648,802 shares of the company's stock traded hands, compared to its average volume of 1,351,591. The stock has a market cap of $13.21 billion, a price-to-earnings ratio of 16.78, a P/E/G ratio of 1.18 and a beta of 1.27. Textron Inc. has a 1-year low of $71.67 and a 1-year high of $97.33. The company has a current ratio of 1.76, a quick ratio of 0.84 and a debt-to-equity ratio of 0.45. The stock has a fifty day moving average of $76.37 and a 200-day moving average of $82.79.
Textron (NYSE:TXT - Get Free Report) last announced its quarterly earnings data on Wednesday, January 22nd. The aerospace company reported $1.34 EPS for the quarter, beating analysts' consensus estimates of $1.27 by $0.07. The company had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.78 billion. Textron had a return on equity of 14.92% and a net margin of 6.01%. The company's quarterly revenue was down 7.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.60 EPS. On average, analysts forecast that Textron Inc. will post 6.12 EPS for the current fiscal year.
Wall Street Analyst Weigh In
A number of research analysts have issued reports on the company. JPMorgan Chase & Co. reduced their price target on Textron from $90.00 to $88.00 and set a "neutral" rating for the company in a research report on Thursday, January 16th. TD Cowen upgraded shares of Textron to a "hold" rating in a research report on Thursday, December 19th. Barclays dropped their price target on shares of Textron from $104.00 to $95.00 and set an "overweight" rating on the stock in a research report on Monday, December 23rd. Bank of America lowered shares of Textron from a "buy" rating to a "neutral" rating and reduced their price target for the stock from $110.00 to $85.00 in a research note on Friday, January 24th. Finally, UBS Group lowered their price objective on shares of Textron from $87.00 to $79.00 and set a "sell" rating on the stock in a research note on Friday, October 25th. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $93.45.
Read Our Latest Report on Textron
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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