Textron Inc. (NYSE:TXT) Stock Position Lowered by Fishman Jay A Ltd. MI

Fishman Jay A Ltd. MI lowered its position in shares of Textron Inc. (NYSE:TXT) by 12.2% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 5,748 shares of the aerospace company’s stock after selling 800 shares during the period. Fishman Jay A Ltd. MI’s holdings in Textron were worth $440,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of TXT. Robeco Institutional Asset Management B.V. boosted its position in shares of 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 valued at $39,145,000 after purchasing an additional 16,359 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its stake in 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 purchasing an additional 4,381 shares during the last quarter. Wellington Management Group LLP boosted its holdings in Textron by 18.0% during the third quarter. Wellington Management Group LLP now owns 401,475 shares of the aerospace company’s stock worth $35,563,000 after buying an additional 61,248 shares in the last quarter. BNP Paribas Financial Markets grew its position in Textron by 14.7% in the third quarter. BNP Paribas Financial Markets now owns 398,366 shares of the aerospace company’s stock worth $35,287,000 after buying an additional 50,936 shares during the last quarter. Finally, National Pension Service increased its holdings in shares of Textron by 2.6% in the third quarter. National Pension Service now owns 368,481 shares of the aerospace company’s stock valued at $32,640,000 after buying an additional 9,491 shares in the last quarter. 86.03% of the stock is owned by institutional investors and hedge funds.

Textron Price Performance

NYSE TXT opened at $74.03 on Wednesday. The company has a 50 day simple moving average of $77.78 and a 200-day simple moving average of $83.58. Textron Inc. has a 52-week low of $73.50 and a 52-week high of $97.33. The firm has a market capitalization of $13.73 billion, a price-to-earnings ratio of 17.18, a price-to-earnings-growth ratio of 1.23 and a beta of 1.27. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.83 and a quick ratio of 0.82.

Textron (NYSE:TXT) last issued its earnings results 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 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 analyst estimates of $3.78 billion. During the same quarter last year, the business posted $1.60 EPS. The company’s revenue for the quarter was down 7.2% on a year-over-year basis. Equities research analysts predict that Textron Inc. will post 6.1 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on TXT shares. JPMorgan Chase & Co. reduced their price objective on Textron from $90.00 to $88.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Susquehanna dropped their price target on Textron from $100.00 to $90.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. Bank of America lowered shares of Textron from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $110.00 to $85.00 in a research note on Friday, January 24th. Morgan Stanley dropped their target price on shares of Textron from $86.00 to $82.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 23rd. Finally, 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. One 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.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $93.45.

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.