Trustmark National Bank Trust Department Lowers Stock Holdings in Textron Inc. (NYSE:TXT)

Trustmark National Bank Trust Department decreased its holdings in Textron Inc. (NYSE:TXT - Free Report) by 28.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,924 shares of the aerospace company's stock after selling 4,289 shares during the quarter. Trustmark National Bank Trust Department's holdings in Textron were worth $836,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. Savvy Advisors Inc. bought a new stake in shares of Textron during the 4th quarter valued at $256,000. Altman Advisors Inc. boosted its stake in Textron by 1.8% during the fourth quarter. Altman Advisors Inc. now owns 22,417 shares of the aerospace company's stock worth $1,715,000 after acquiring an additional 389 shares in the last quarter. Sterling Capital Management LLC grew its holdings in Textron by 55.7% in the fourth quarter. Sterling Capital Management LLC now owns 11,077 shares of the aerospace company's stock worth $847,000 after purchasing an additional 3,961 shares during the period. Treasurer of the State of North Carolina increased its stake in shares of Textron by 0.6% during the fourth quarter. Treasurer of the State of North Carolina now owns 82,184 shares of the aerospace company's stock valued at $6,286,000 after purchasing an additional 520 shares in the last quarter. Finally, Neuberger Berman Group LLC boosted its position in shares of Textron by 1.6% in the 4th quarter. Neuberger Berman Group LLC now owns 781,194 shares of the aerospace company's stock worth $59,754,000 after purchasing an additional 12,175 shares in the last quarter. Institutional investors own 86.03% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on TXT shares. Susquehanna lowered 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. Morgan Stanley cut their price objective on shares of Textron from $82.00 to $71.00 and set an "equal weight" rating on the stock in a research report on Friday, April 11th. Bank of America cut shares of Textron from a "buy" rating to a "neutral" rating and decreased their target price for the stock from $110.00 to $85.00 in a report on Friday, January 24th. Barclays cut their price target on shares of Textron from $104.00 to $95.00 and set an "overweight" rating on the stock in a report on Monday, December 23rd. Finally, Vertical Research upgraded shares of Textron from a "hold" rating to a "buy" rating and set a $91.00 price objective for the company in a report on Monday, January 6th. One analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, Textron currently has a consensus rating of "Hold" and an average target price of $89.30.

Insider Activity

In other Textron news, VP Mark S. Bamford sold 5,451 shares of the business's stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $72.68, for a total transaction of $396,178.68. Following the completion of the sale, the vice president now owns 18,223 shares of the company's stock, valued at approximately $1,324,447.64. The trade was a 23.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.70% of the company's stock.

Textron Stock Performance

Shares of TXT stock traded up $1.02 on Friday, reaching $66.00. The stock had a trading volume of 1,563,028 shares, compared to its average volume of 1,187,931. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.84 and a current ratio of 1.76. Textron Inc. has a 1 year low of $57.70 and a 1 year high of $95.86. The stock has a market cap of $11.99 billion, a P/E ratio of 15.31, a price-to-earnings-growth ratio of 1.18 and a beta of 1.06. The company has a 50 day simple moving average of $70.98 and a 200 day simple moving average of $77.93.

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

Textron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were paid a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.12%. The ex-dividend date of this dividend was Friday, March 14th. Textron's dividend payout ratio is presently 1.86%.

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.