Mirae Asset Global Investments Co. Ltd. Grows Stock Position in Textron Inc. (NYSE:TXT)

Mirae Asset Global Investments Co. Ltd. grew its position in shares of Textron Inc. (NYSE:TXT) by 44.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,390 shares of the aerospace company’s stock after purchasing an additional 5,367 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Textron were worth $1,343,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in TXT. Robeco Institutional Asset Management B.V. increased its stake in Textron by 3.3% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 511,770 shares of the aerospace company’s stock worth $39,145,000 after buying an additional 16,359 shares during the period. Patriot Financial Group Insurance Agency LLC grew its stake in shares of Textron by 5.8% during the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 2,977 shares of the aerospace company’s stock valued at $228,000 after acquiring an additional 163 shares in the last quarter. Foundations Investment Advisors LLC increased its position in shares of Textron by 4.1% during the fourth quarter. Foundations Investment Advisors LLC now owns 4,272 shares of the aerospace company’s stock worth $327,000 after acquiring an additional 169 shares during the last quarter. Pacer Advisors Inc. lifted its stake in shares of Textron by 19.3% in the fourth quarter. Pacer Advisors Inc. now owns 16,555 shares of the aerospace company’s stock worth $1,266,000 after acquiring an additional 2,679 shares in the last quarter. Finally, Blue Trust Inc. boosted its holdings in Textron by 36.1% in the fourth quarter. Blue Trust Inc. now owns 2,606 shares of the aerospace company’s stock valued at $199,000 after purchasing an additional 691 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 opened at $74.03 on Wednesday. The stock has a market capitalization of $13.73 billion, a P/E ratio of 17.18, a P/E/G ratio of 1.23 and a beta of 1.27. The firm’s 50-day moving average price is $77.78 and its two-hundred day moving average price is $83.58. Textron Inc. has a 52-week low of $73.50 and a 52-week high of $97.33. The company has a quick ratio of 0.82, a current ratio of 1.83 and a debt-to-equity ratio of 0.40.

Textron (NYSE:TXT) last released its quarterly earnings data on Wednesday, January 22nd. The aerospace company reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $3.78 billion. During the same quarter in the previous year, the firm posted $1.60 EPS. The business’s revenue for the quarter was down 7.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Textron Inc. will post 6.1 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have issued reports on TXT. Robert W. Baird cut their target price on Textron from $100.00 to $92.00 and set an “outperform” rating on the stock in a research report on Thursday, January 23rd. Bank of America cut shares of Textron from a “buy” rating to a “neutral” rating and cut their price target for the company from $110.00 to $85.00 in a report on Friday, January 24th. Vertical Research raised 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. JPMorgan Chase & Co. dropped their target price on shares of Textron from $90.00 to $88.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Finally, Susquehanna reduced their price target 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. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price 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.