Rhumbline Advisers Lowers Stock Holdings in Textron Inc. (NYSE:TXT)

Rhumbline Advisers trimmed its stake in Textron Inc. (NYSE:TXT - Free Report) by 1.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 325,711 shares of the aerospace company's stock after selling 3,816 shares during the quarter. Rhumbline Advisers owned approximately 0.18% of Textron worth $24,914,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the company. Empirical Finance LLC grew its position in Textron by 1.7% during the 3rd quarter. Empirical Finance LLC now owns 7,047 shares of the aerospace company's stock worth $624,000 after acquiring an additional 115 shares during the last quarter. Apollon Wealth Management LLC increased its holdings in Textron by 4.9% during the 3rd quarter. Apollon Wealth Management LLC now owns 2,655 shares of the aerospace company's stock worth $235,000 after purchasing an additional 125 shares in the last quarter. Pflug Koory LLC grew its holdings in shares of Textron by 0.9% in the fourth quarter. Pflug Koory LLC now owns 13,778 shares of the aerospace company's stock valued at $1,054,000 after acquiring an additional 125 shares in the last quarter. V Square Quantitative Management LLC grew its holdings in shares of Textron by 5.7% in the fourth quarter. V Square Quantitative Management LLC now owns 2,611 shares of the aerospace company's stock valued at $200,000 after acquiring an additional 141 shares in the last quarter. Finally, Patriot Financial Group Insurance Agency LLC grew its holdings in shares of Textron by 5.8% in the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 2,977 shares of the aerospace company's stock valued at $228,000 after acquiring an additional 163 shares in the last quarter. 86.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on TXT shares. Barclays reduced their price objective on Textron from $104.00 to $95.00 and set an "overweight" rating for the company in a report on Monday, December 23rd. Robert W. Baird lowered their price target on Textron from $100.00 to $92.00 and set an "outperform" rating on the stock in a research report on Thursday, January 23rd. Morgan Stanley reduced their price objective on Textron from $86.00 to $82.00 and set an "equal weight" rating on the stock in a research note on Thursday, January 23rd. Bank of America cut Textron from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $110.00 to $85.00 in a research note on Friday, January 24th. Finally, UBS Group cut their target price on Textron from $87.00 to $79.00 and set a "sell" rating on the stock in a research note on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $93.45.

Textron Stock Down 0.8 %

TXT traded down $0.55 on Friday, hitting $71.89. The company had a trading volume of 623,424 shares, compared to its average volume of 1,319,712. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.76 and a quick ratio of 0.84. Textron Inc. has a 52-week low of $71.67 and a 52-week high of $97.33. The stock has a fifty day simple moving average of $76.37 and a 200-day simple moving average of $82.79. The firm has a market capitalization of $13.12 billion, a P/E ratio of 16.67, a P/E/G ratio of 1.18 and a beta of 1.27.

Textron (NYSE:TXT - Get Free Report) last issued its quarterly earnings data on Wednesday, January 22nd. The aerospace company reported $1.34 EPS for the quarter, topping the consensus estimate of $1.27 by $0.07. Textron had a net margin of 6.01% and a return on equity of 14.92%. The business had revenue of $3.61 billion during the quarter, compared to analyst estimates of $3.78 billion. During the same period last year, the business posted $1.60 earnings per share. Textron's quarterly revenue was down 7.2% compared to the same quarter last year. As a group, equities analysts expect that Textron Inc. will post 6.12 EPS for the current fiscal year.

Textron Company 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.