Allworth Financial LP Increases Position in Textron Inc. (NYSE:TXT)

Allworth Financial LP raised its holdings in shares of Textron Inc. (NYSE:TXT) by 11.6% during the fourth quarter, Holdings Channel reports. The fund owned 1,801 shares of the aerospace company’s stock after buying an additional 187 shares during the period. Allworth Financial LP’s holdings in Textron were worth $141,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Robeco Institutional Asset Management B.V. lifted its stake in shares of Textron by 3.3% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 511,770 shares of the aerospace company’s stock valued at $39,145,000 after acquiring an additional 16,359 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Textron by 0.9% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 475,420 shares of the aerospace company’s stock valued at $36,365,000 after buying an additional 4,381 shares during the period. Wellington Management Group LLP raised its holdings in shares of Textron by 18.0% during the third quarter. Wellington Management Group LLP now owns 401,475 shares of the aerospace company’s stock valued at $35,563,000 after acquiring an additional 61,248 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in Textron by 14.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 398,366 shares of the aerospace company’s stock worth $35,287,000 after purchasing an additional 50,936 shares in the last quarter. Finally, National Pension Service lifted its holdings in Textron by 2.6% in the third quarter. National Pension Service now owns 368,481 shares of the aerospace company’s stock worth $32,640,000 after buying an additional 9,491 shares during the period. 86.03% of the stock is owned by hedge funds and other institutional investors.

Textron Trading Down 0.1 %

NYSE:TXT opened at $72.34 on Monday. The company has a 50 day simple moving average of $76.20 and a two-hundred day simple moving average of $82.69. The company has a market cap of $13.21 billion, a PE ratio of 16.78, a price-to-earnings-growth ratio of 1.18 and a beta of 1.27. The company has a current ratio of 1.76, a quick ratio of 0.84 and a debt-to-equity ratio of 0.45. Textron Inc. has a 12 month low of $71.67 and a 12 month high of $97.33.

Textron (NYSE:TXT) last posted its quarterly earnings data on Wednesday, January 22nd. The aerospace company reported $1.34 EPS for the quarter, beating analysts’ consensus estimates of $1.27 by $0.07. The company had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $3.78 billion. Textron had a return on equity of 14.92% and a net margin of 6.01%. Textron’s revenue for the quarter was down 7.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.60 earnings per share. Research analysts forecast that Textron Inc. will post 6.12 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Citigroup reduced their price target on Textron from $118.00 to $111.00 and set a “buy” rating on the stock in a research note on Tuesday, January 21st. Robert W. Baird dropped their price objective on shares of Textron from $100.00 to $92.00 and set an “outperform” rating on the stock in a research note on Thursday, January 23rd. JPMorgan Chase & Co. decreased their target price on shares of Textron from $90.00 to $88.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Vertical Research raised Textron from a “hold” rating to a “buy” rating and set a $91.00 target price on the stock in a research note on Monday, January 6th. Finally, 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. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Textron has an average rating of “Moderate Buy” and a consensus 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.