TCW Group Inc. decreased its holdings in Textron Inc. (NYSE:TXT – Free Report) by 4.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 444,012 shares of the aerospace company’s stock after selling 22,347 shares during the quarter. TCW Group Inc. owned 0.24% of Textron worth $33,962,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Paradigm Asset Management Co. LLC boosted its holdings in shares of Textron by 2.8% in the fourth quarter. Paradigm Asset Management Co. LLC now owns 11,200 shares of the aerospace company’s stock worth $857,000 after buying an additional 300 shares during the last quarter. Elk River Wealth Management LLC boosted its holdings in shares of Textron by 0.6% in the fourth quarter. Elk River Wealth Management LLC now owns 58,830 shares of the aerospace company’s stock worth $4,501,000 after buying an additional 379 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund boosted its holdings in shares of Textron by 79.5% in the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 9,956 shares of the aerospace company’s stock worth $762,000 after buying an additional 4,409 shares during the last quarter. CIBC Asset Management Inc boosted its holdings in shares of Textron by 3.9% in the fourth quarter. CIBC Asset Management Inc now owns 28,609 shares of the aerospace company’s stock worth $2,188,000 after buying an additional 1,081 shares during the last quarter. Finally, Allworth Financial LP boosted its holdings in shares of Textron by 11.6% in the fourth quarter. Allworth Financial LP now owns 1,801 shares of the aerospace company’s stock worth $141,000 after buying an additional 187 shares during the last quarter. Hedge funds and other institutional investors own 86.03% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities analysts recently issued reports on TXT shares. JPMorgan Chase & Co. dropped their price objective on shares of Textron from $90.00 to $88.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Susquehanna decreased their target price on shares of Textron from $100.00 to $90.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. Barclays decreased their target price on shares of Textron from $104.00 to $95.00 and set an “overweight” rating on the stock in a research note on Monday, December 23rd. 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 research note on Friday, January 24th. Finally, Citigroup decreased their target price on shares of Textron from $118.00 to $111.00 and set a “buy” rating on the stock in a research note on Tuesday, January 21st. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $93.45.
Textron Trading Down 0.1 %
Textron stock opened at $72.34 on Friday. The stock has a market cap of $13.21 billion, a P/E ratio of 16.78, a PEG ratio of 1.18 and a beta of 1.27. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.76 and a quick ratio of 0.84. Textron Inc. has a 1 year low of $71.67 and a 1 year high of $97.33. The firm’s 50 day moving average price is $76.20 and its 200-day moving average price is $82.69.
Textron (NYSE:TXT – Get Free Report) last released its quarterly earnings data on Wednesday, January 22nd. The aerospace company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.07. The firm had revenue of $3.61 billion for the quarter, compared to analysts’ expectations of $3.78 billion. Textron had a net margin of 6.01% and a return on equity of 14.92%. The company’s revenue for the quarter was down 7.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.60 earnings per share. On average, equities analysts predict that Textron Inc. will post 6.12 earnings per share for the current fiscal 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.
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