Textron Inc. (NYSE:TXT) Shares Sold by Trustmark National Bank Trust Department

Trustmark National Bank Trust Department lessened its position in Textron Inc. (NYSE:TXT) by 0.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,151 shares of the aerospace company’s stock after selling 119 shares during the quarter. Trustmark National Bank Trust Department’s holdings in Textron were worth $1,358,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in TXT. LSV Asset Management grew its holdings in Textron by 15.9% in the 4th quarter. LSV Asset Management now owns 3,793,047 shares of the aerospace company’s stock valued at $305,037,000 after buying an additional 521,276 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in Textron in the fourth quarter valued at $394,347,000. Ferguson Wellman Capital Management Inc. acquired a new position in Textron in the first quarter valued at about $45,932,000. Brandes Investment Partners LP boosted its stake in Textron by 49.3% during the fourth quarter. Brandes Investment Partners LP now owns 1,235,966 shares of the aerospace company’s stock worth $99,396,000 after buying an additional 408,290 shares during the period. Finally, Hsbc Holdings PLC increased its position in shares of Textron by 77.7% during the fourth quarter. Hsbc Holdings PLC now owns 563,031 shares of the aerospace company’s stock valued at $45,285,000 after acquiring an additional 246,185 shares during the last quarter. 86.03% of the stock is owned by institutional investors and hedge funds.

Textron Price Performance

NYSE TXT traded up $0.45 during trading hours on Tuesday, reaching $92.27. The company’s stock had a trading volume of 390,594 shares, compared to its average volume of 1,135,531. The stock has a market cap of $17.60 billion, a PE ratio of 19.64, a PEG ratio of 1.43 and a beta of 1.25. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.66 and a current ratio of 1.64. Textron Inc. has a fifty-two week low of $67.04 and a fifty-two week high of $97.33. The company’s 50-day moving average is $87.44 and its two-hundred day moving average is $88.04.

Textron (NYSE:TXT) last announced its quarterly earnings data on Thursday, July 18th. The aerospace company reported $1.54 EPS for the quarter, beating analysts’ consensus estimates of $1.48 by $0.06. Textron had a return on equity of 16.41% and a net margin of 6.67%. The business had revenue of $3.53 billion during the quarter, compared to the consensus estimate of $3.56 billion. During the same quarter in the previous year, the business earned $1.46 earnings per share. The business’s revenue for the quarter was up 3.0% on a year-over-year basis. Analysts forecast that Textron Inc. will post 6.29 EPS for the current year.

Textron Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Friday, June 14th were given a $0.02 dividend. The ex-dividend date of this dividend was Friday, June 14th. This represents a $0.08 annualized dividend and a dividend yield of 0.09%. Textron’s dividend payout ratio is presently 1.71%.

Insider Activity at Textron

In other Textron news, Director Kathleen M. Bader sold 11,870 shares of Textron stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $87.91, for a total value of $1,043,491.70. Following the transaction, the director now owns 3,756 shares in the company, valued at approximately $330,189.96. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.70% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. UBS Group upped their price target on Textron from $84.00 to $87.00 and gave the stock a “sell” rating in a report on Friday. Bank of America raised their target price on shares of Textron from $105.00 to $110.00 and gave the company a “buy” rating in a report on Tuesday. TD Cowen increased their price objective on shares of Textron from $100.00 to $103.00 and gave the company a “buy” rating in a research report on Friday. The Goldman Sachs Group raised their price objective on shares of Textron from $103.00 to $120.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Finally, Citigroup boosted their target price on Textron from $111.00 to $115.00 and gave the company a “buy” rating in a report on Monday. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $101.63.

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.