abrdn plc Sells 11,351 Shares of Textron Inc. (NYSE:TXT)

abrdn plc reduced its stake in Textron Inc. (NYSE:TXT - Free Report) by 15.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 62,066 shares of the aerospace company's stock after selling 11,351 shares during the quarter. abrdn plc's holdings in Textron were worth $4,734,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. True Wealth Design LLC acquired a new stake in shares of Textron in the 3rd quarter valued at approximately $26,000. Capital Performance Advisors LLP acquired a new stake in shares of Textron in the 3rd quarter valued at approximately $42,000. Truvestments Capital LLC acquired a new stake in shares of Textron in the 3rd quarter valued at approximately $43,000. Eastern Bank acquired a new stake in shares of Textron in the 4th quarter valued at approximately $42,000. Finally, Venturi Wealth Management LLC raised its holdings in Textron by 69.5% during the third quarter. Venturi Wealth Management LLC now owns 566 shares of the aerospace company's stock worth $50,000 after purchasing an additional 232 shares during the last quarter. 86.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. reduced their price objective on Textron from $90.00 to $88.00 and set a "neutral" rating for the company in a report on Thursday, January 16th. UBS Group cut their price target on Textron from $87.00 to $79.00 and set a "sell" rating for the company in a report on Friday, October 25th. Vertical Research raised Textron from a "hold" rating to a "buy" rating and set a $91.00 price target for the company in a report on Monday, January 6th. Citigroup cut their price target on Textron from $118.00 to $111.00 and set a "buy" rating for the company in a report on Tuesday, January 21st. Finally, Morgan Stanley cut their price target on Textron from $86.00 to $82.00 and set an "equal weight" rating for the company in a report on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $93.45.

Textron Price Performance

Shares of TXT traded up $0.33 during trading hours on Thursday, hitting $73.13. 1,287,501 shares of the company were exchanged, compared to its average volume of 1,340,169. The company has a market capitalization of $13.57 billion, a PE ratio of 16.97, a PEG ratio of 1.23 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 firm has a fifty day simple moving average of $77.34 and a 200-day simple moving average of $83.43. Textron Inc. has a one year low of $72.62 and a one year high of $97.33.

Textron (NYSE:TXT - Get Free Report) last issued its earnings results 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 business had revenue of $3.61 billion during 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%. Textron's revenue was down 7.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.60 earnings per share. As a group, sell-side analysts predict that Textron Inc. will post 6.1 earnings per share for the current year.

About Textron

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.