CHURCHILL MANAGEMENT Corp Lowers Stock Holdings in Textron Inc. (NYSE:TXT)

CHURCHILL MANAGEMENT Corp cut its holdings in shares of Textron Inc. (NYSE:TXT - Free Report) by 82.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 30,084 shares of the aerospace company's stock after selling 143,244 shares during the period. CHURCHILL MANAGEMENT Corp's holdings in Textron were worth $2,301,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. True Wealth Design LLC purchased a new position in Textron during the 3rd quarter worth $26,000. Capital Performance Advisors LLP acquired a new stake in Textron in the third quarter worth about $42,000. Eastern Bank purchased a new stake in shares of Textron during the fourth quarter worth about $42,000. Truvestments Capital LLC acquired a new position in shares of Textron during the third quarter valued at about $43,000. Finally, Venturi Wealth Management LLC raised its position 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 valued at $50,000 after purchasing an additional 232 shares during the last quarter. Hedge funds and other institutional investors own 86.03% of the company's stock.

Textron Stock Performance

Shares of NYSE TXT traded up $0.30 during trading on Thursday, reaching $78.86. 1,028,365 shares of the company traded hands, compared to its average volume of 1,269,616. The stock has a market cap of $14.63 billion, a P/E ratio of 17.33, a PEG ratio of 1.15 and a beta of 1.27. The firm's fifty day simple moving average is $81.01 and its 200 day simple moving average is $85.23. The company has a current ratio of 1.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.46. Textron Inc. has a 12-month low of $74.89 and a 12-month high of $97.33.

Textron (NYSE:TXT - Get Free Report) last announced its quarterly earnings results on Thursday, October 24th. The aerospace company reported $1.40 earnings per share for the quarter, missing the consensus estimate of $1.49 by ($0.09). Textron had a net margin of 6.30% and a return on equity of 16.02%. The company had revenue of $3.43 billion for the quarter, compared to analysts' expectations of $3.50 billion. During the same quarter in the prior year, the business posted $1.49 earnings per share. The firm's revenue was up 2.5% compared to the same quarter last year. As a group, research analysts anticipate that Textron Inc. will post 5.45 earnings per share for the current fiscal year.

Textron Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 1st. Investors of record on Friday, December 13th were issued a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.10%. The ex-dividend date of this dividend was Friday, December 13th. Textron's dividend payout ratio (DPR) is presently 1.76%.

Analysts Set New Price Targets

Several analysts have weighed in on TXT shares. Susquehanna dropped their target price on shares of Textron from $100.00 to $90.00 and set a "positive" rating on the stock in a research report on Wednesday, January 8th. JPMorgan Chase & Co. lowered their price objective on shares of Textron from $90.00 to $88.00 and set a "neutral" rating for the company in a research note on Thursday. Barclays cut their target price on Textron from $104.00 to $95.00 and set an "overweight" rating on the stock in a research report on Monday, December 23rd. TD Cowen upgraded Textron to a "hold" rating in a research note on Thursday, December 19th. Finally, Robert W. Baird dropped their price target on Textron from $109.00 to $100.00 and set an "outperform" rating on the stock in a research note on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $98.00.

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.