Textron Inc. (NYSE:TXT) Shares Sold by First Western Trust Bank

First Western Trust Bank trimmed its holdings in Textron Inc. (NYSE:TXT) by 19.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,396 shares of the aerospace company’s stock after selling 564 shares during the quarter. First Western Trust Bank’s holdings in Textron were worth $212,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in TXT. Wedge Capital Management L L P NC acquired a new position in Textron during the second quarter worth $64,319,000. Canada Pension Plan Investment Board grew its holdings in shares of Textron by 1,611.9% in the first quarter. Canada Pension Plan Investment Board now owns 433,100 shares of the aerospace company’s stock valued at $41,547,000 after purchasing an additional 407,800 shares during the period. Brandes Investment Partners LP increased its position in Textron by 20.0% during the second quarter. Brandes Investment Partners LP now owns 1,549,551 shares of the aerospace company’s stock worth $133,096,000 after purchasing an additional 258,778 shares during the last quarter. AQR Capital Management LLC raised its stake in Textron by 18.9% during the second quarter. AQR Capital Management LLC now owns 1,451,293 shares of the aerospace company’s stock worth $124,608,000 after purchasing an additional 231,173 shares during the period. Finally, Fidelity National Financial Inc. acquired a new position in Textron in the 2nd quarter valued at about $19,748,000. 86.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently issued reports on TXT. Robert W. Baird cut their price target on shares of Textron from $109.00 to $100.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Bank of America lifted their target price on Textron from $105.00 to $110.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Citigroup increased their price target on Textron from $111.00 to $115.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. TD Cowen cut shares of Textron from a “buy” rating to a “hold” rating and decreased their target price for the company from $103.00 to $95.00 in a research report on Wednesday, September 25th. Finally, StockNews.com cut shares of Textron from a “strong-buy” rating to a “buy” rating in a research report on Thursday, September 12th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Textron presently has an average rating of “Moderate Buy” and an average target price of $101.56.

Textron Stock Performance

NYSE:TXT opened at $83.34 on Tuesday. Textron Inc. has a 52 week low of $74.13 and a 52 week high of $97.33. The company has a fifty day simple moving average of $86.32 and a two-hundred day simple moving average of $87.31. The company has a quick ratio of 0.82, a current ratio of 1.83 and a debt-to-equity ratio of 0.46. The company has a market cap of $15.46 billion, a price-to-earnings ratio of 18.32, a price-to-earnings-growth ratio of 1.53 and a beta of 1.24.

Textron (NYSE:TXT) last issued its quarterly earnings results on Thursday, October 24th. The aerospace company reported $1.40 earnings per share for the quarter, missing the consensus estimate of $1.49 by ($0.09). Textron had a return on equity of 16.02% and a net margin of 6.30%. The company had revenue of $3.43 billion for the quarter, compared to analysts’ expectations of $3.50 billion. During the same quarter last year, the company earned $1.49 EPS. Textron’s revenue for the quarter was up 2.5% compared to the same quarter last year. As a group, equities analysts anticipate that Textron Inc. will post 5.52 earnings per share for the current fiscal year.

Textron Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Friday, December 13th will be issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.10%. The ex-dividend date is Friday, December 13th. Textron’s dividend payout ratio (DPR) is presently 1.76%.

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.