Ferguson Wellman Capital Management Inc. Lowers Stake in Textron Inc. (NYSE:TXT)

Ferguson Wellman Capital Management Inc. decreased its position in Textron Inc. (NYSE:TXT - Free Report) by 2.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 442,511 shares of the aerospace company's stock after selling 9,703 shares during the period. Ferguson Wellman Capital Management Inc. owned 0.24% of Textron worth $33,848,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. True Wealth Design LLC purchased a new stake in Textron in the 3rd quarter valued at about $26,000. Capital Performance Advisors LLP purchased a new stake in Textron in the 3rd quarter valued at about $42,000. Truvestments Capital LLC purchased a new stake in Textron in the 3rd quarter valued at about $43,000. Eastern Bank bought a new position in shares of Textron during the 4th quarter valued at approximately $42,000. Finally, Venturi Wealth Management LLC grew its position in shares of Textron by 69.5% during the 3rd quarter. Venturi Wealth Management LLC now owns 566 shares of the aerospace company's stock valued at $50,000 after acquiring an additional 232 shares during the period. Hedge funds and other institutional investors own 86.03% of the company's stock.

Textron Price Performance

NYSE:TXT traded up $0.33 during trading hours on Thursday, hitting $73.13. The stock had a trading volume of 1,287,501 shares, compared to its average volume of 1,340,169. The company has a 50 day simple moving average of $77.34 and a two-hundred day simple moving average of $83.43. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.83 and a quick ratio of 0.82. Textron Inc. has a one year low of $72.62 and a one year high of $97.33. The firm has a market capitalization of $13.35 billion, a price-to-earnings ratio of 16.97, a P/E/G ratio of 1.23 and a beta of 1.27.

Textron (NYSE:TXT - Get Free Report) last announced its quarterly earnings results on Wednesday, January 22nd. The aerospace company reported $1.34 EPS for the quarter, beating 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 firm had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.78 billion. During the same period last year, the firm earned $1.60 EPS. The business's quarterly revenue was down 7.2% compared to the same quarter last year. Research analysts forecast that Textron Inc. will post 6.1 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. Citigroup reduced their target price on shares of Textron from $118.00 to $111.00 and set a "buy" rating for the company in a research report on Tuesday, January 21st. Barclays reduced their target price on shares of Textron from $104.00 to $95.00 and set an "overweight" rating for the company in a research report on Monday, December 23rd. Morgan Stanley reduced their target price on shares of Textron from $86.00 to $82.00 and set an "equal weight" rating for the company in a research report on Thursday, January 23rd. TD Cowen raised shares of Textron to a "hold" rating in a research report on Thursday, December 19th. Finally, Bank of America downgraded shares of Textron from a "buy" rating to a "neutral" rating and reduced their target price for the company from $110.00 to $85.00 in a research report on Friday, January 24th. One investment 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's stock. According to MarketBeat.com, Textron currently has an average rating of "Moderate Buy" and a consensus price target of $93.45.

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.