Ieq Capital LLC Sells 884 Shares of Textron Inc. (NYSE:TXT)

Ieq Capital LLC lessened its stake in shares of Textron Inc. (NYSE:TXT) by 7.2% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,355 shares of the aerospace company’s stock after selling 884 shares during the period. Ieq Capital LLC’s holdings in Textron were worth $869,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. True Wealth Design LLC purchased a new position in Textron during the 3rd quarter worth $26,000. Capital Performance Advisors LLP bought a new position in shares of Textron during the 3rd quarter worth $42,000. Eastern Bank purchased a new position in shares of Textron during the fourth quarter valued at $42,000. Truvestments Capital LLC bought a new stake in shares of Textron in the third quarter valued at about $43,000. Finally, Venturi Wealth Management LLC lifted its stake in Textron by 69.5% in the third quarter. Venturi Wealth Management LLC now owns 566 shares of the aerospace company’s stock worth $50,000 after acquiring an additional 232 shares during the period. Hedge funds and other institutional investors own 86.03% of the company’s stock.

Textron Price Performance

Shares of NYSE TXT opened at $73.25 on Wednesday. Textron Inc. has a fifty-two week low of $71.67 and a fifty-two week high of $97.33. The company has a market cap of $13.37 billion, a PE ratio of 16.99, a P/E/G ratio of 1.18 and a beta of 1.27. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.84 and a current ratio of 1.76. The business has a 50-day simple moving average of $75.89 and a two-hundred day simple moving average of $82.52.

Textron (NYSE:TXT) last released its earnings results on Wednesday, January 22nd. The aerospace company reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.27 by $0.07. Textron had a net margin of 6.01% and a return on equity of 14.92%. The company had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $3.78 billion. During the same period last year, the business earned $1.60 EPS. Textron’s revenue for the quarter was down 7.2% on a year-over-year basis. As a group, equities analysts expect that Textron Inc. will post 6.12 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have commented on TXT shares. Citigroup cut their target price on shares of Textron from $118.00 to $111.00 and set a “buy” rating on the stock in a research report on Tuesday, January 21st. Barclays cut their price objective 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. Vertical Research upgraded Textron from a “hold” rating to a “buy” rating and set a $91.00 target price for the company in a report on Monday, January 6th. Morgan Stanley cut their price target on Textron from $86.00 to $82.00 and set an “equal weight” rating on the stock in a report on Thursday, January 23rd. Finally, Susquehanna decreased 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. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $93.45.

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.