Hancock Whitney Corp Acquires Shares of 2,421 Textron Inc. (NYSE:TXT)

Hancock Whitney Corp bought a new position in Textron Inc. (NYSE:TXT) during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 2,421 shares of the aerospace company’s stock, valued at approximately $214,000.

Other hedge funds also recently made changes to their positions in the company. Innealta Capital LLC purchased a new stake in shares of Textron during the 2nd quarter worth approximately $25,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Textron in the 2nd quarter worth about $30,000. Oakworth Capital Inc. purchased a new stake in shares of Textron during the 2nd quarter valued at about $31,000. Family Firm Inc. bought a new position in shares of Textron in the 2nd quarter valued at about $40,000. Finally, Capital Performance Advisors LLP purchased a new position in Textron in the third quarter worth about $42,000. 86.03% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TXT has been the topic of a number of recent research reports. StockNews.com downgraded Textron from a “strong-buy” rating to a “buy” rating in a research report on Thursday, September 12th. Morgan Stanley cut shares of Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 price objective on the stock. in a research report on Thursday, August 8th. JPMorgan Chase & Co. lowered their target price on shares of Textron from $100.00 to $95.00 and set a “neutral” rating for the company in a report on Monday, October 14th. UBS Group cut their price target on shares of Textron from $87.00 to $79.00 and set a “sell” rating on the stock in a report on Friday, October 25th. Finally, TD Cowen downgraded shares of Textron from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $103.00 to $95.00 in a research note on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Textron has a consensus rating of “Moderate Buy” and an average price target of $101.56.

Textron Stock Down 0.0 %

Shares of NYSE TXT opened at $85.10 on Thursday. The stock has a 50 day moving average price of $85.90 and a 200 day moving average price of $87.17. The firm has a market capitalization of $15.79 billion, a price-to-earnings ratio of 18.70, a PEG ratio of 1.54 and a beta of 1.24. Textron Inc. has a 52-week low of $74.13 and a 52-week high of $97.33. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.82 and a current ratio of 1.83.

Textron (NYSE:TXT) last issued its 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). The firm had revenue of $3.43 billion during the quarter, compared to analysts’ expectations of $3.50 billion. Textron had a return on equity of 16.02% and a net margin of 6.30%. Textron’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.49 earnings per share. Sell-side analysts expect that Textron Inc. will post 5.53 earnings per share for the current year.

Textron Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Friday, December 13th will be given a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.09%. The ex-dividend date is Friday, December 13th. Textron’s dividend payout ratio (DPR) is 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.