Marietta Wealth Management LLC Cuts Stock Holdings in Textron Inc. (NYSE:TXT)

Marietta Wealth Management LLC decreased its holdings in shares of Textron Inc. (NYSE:TXT - Free Report) by 10.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 29,016 shares of the aerospace company's stock after selling 3,367 shares during the quarter. Marietta Wealth Management LLC's holdings in Textron were worth $2,219,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. True Wealth Design LLC acquired a new position in shares of Textron in the third quarter worth approximately $26,000. Capital Performance Advisors LLP acquired a new position in shares of Textron in the 3rd quarter worth approximately $42,000. Eastern Bank bought a new stake in shares of Textron in the 4th quarter valued at $42,000. Truvestments Capital LLC bought a new position in Textron during the third quarter worth $43,000. Finally, Venturi Wealth Management LLC lifted its holdings in Textron by 69.5% in the third quarter. Venturi Wealth Management LLC now owns 566 shares of the aerospace company's stock valued at $50,000 after buying an additional 232 shares during the period. Institutional investors and hedge funds own 86.03% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have commented on TXT shares. Morgan Stanley dropped their price objective on shares of Textron from $86.00 to $82.00 and set an "equal weight" rating on the stock in a report on Thursday, January 23rd. Citigroup dropped their price target on shares of Textron from $118.00 to $111.00 and set a "buy" rating on the stock in a research note on Tuesday, January 21st. TD Cowen upgraded shares of Textron to a "hold" rating in a research note on Thursday, December 19th. Robert W. Baird dropped their target price on Textron from $100.00 to $92.00 and set an "outperform" rating on the stock in a research report on Thursday, January 23rd. Finally, Vertical Research upgraded Textron from a "hold" rating to a "buy" rating and set a $91.00 price target for the company in a research report on Monday, January 6th. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $93.45.

Textron Stock Down 1.1 %

Shares of NYSE TXT traded down $0.84 during midday trading on Wednesday, reaching $74.55. 758,761 shares of the company's stock were exchanged, compared to its average volume of 1,362,287. Textron Inc. has a 52-week low of $74.12 and a 52-week high of $97.33. The stock has a market capitalization of $13.83 billion, a PE ratio of 17.32, a price-to-earnings-growth ratio of 1.25 and a beta of 1.27. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.82 and a current ratio of 1.83. The business's fifty day moving average price is $78.87 and its two-hundred day moving average price is $84.18.

Textron (NYSE:TXT - Get Free Report) last announced its quarterly earnings data on Wednesday, January 22nd. The aerospace company reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.07. The firm had revenue of $3.61 billion for the quarter, compared to analysts' expectations of $3.78 billion. Textron had a return on equity of 14.92% and a net margin of 6.01%. The firm's revenue for the quarter was down 7.2% on a year-over-year basis. During the same period last year, the business posted $1.60 earnings per share. Analysts forecast that Textron Inc. will post 6.1 EPS for the current 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.