KBC Group NV Lowers Position in Textron Inc. (NYSE:TXT)

KBC Group NV lessened its holdings in Textron Inc. (NYSE:TXT - Free Report) by 34.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,298 shares of the aerospace company's stock after selling 6,987 shares during the period. KBC Group NV's holdings in Textron were worth $1,017,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Bank of America cut shares of Textron from a "buy" rating to a "neutral" rating and cut their price target for the stock from $110.00 to $85.00 in a report on Friday, January 24th. Citigroup reduced their target price on Textron from $118.00 to $111.00 and set a "buy" rating for the company in a report on Tuesday, January 21st. Vertical Research upgraded Textron from a "hold" rating to a "buy" rating and set a $91.00 price target on the stock in a report on Monday, January 6th. Susquehanna reduced their price objective on Textron from $100.00 to $90.00 and set a "positive" rating for the company in a research note on Wednesday, January 8th. Finally, TD Cowen upgraded Textron to a "hold" rating in a research note on Thursday, December 19th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $93.45.

Textron Stock Performance

NYSE:TXT traded down $0.86 on Wednesday, reaching $74.53. 1,495,530 shares of the company's stock were exchanged, compared to its average volume of 1,395,262. The firm has a market cap of $13.83 billion, a price-to-earnings ratio of 17.29, a P/E/G ratio of 1.25 and a beta of 1.27. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.83 and a quick ratio of 0.82. The stock has a fifty day simple moving average of $78.66 and a 200-day simple moving average of $84.11. Textron Inc. has a 52 week low of $74.12 and a 52 week high of $97.33.

Textron (NYSE:TXT - Get Free Report) last released 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. The company had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.78 billion. Textron had a net margin of 6.01% and a return on equity of 14.92%. Textron's revenue for the quarter was down 7.2% on a year-over-year basis. During the same period last year, the firm earned $1.60 EPS. As a group, sell-side analysts predict that Textron Inc. will post 6.1 earnings per share for the current 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.