Hartford Investment Management Co. Cuts Position in Textron Inc. (NYSE:TXT)

Hartford Investment Management Co. trimmed its holdings in shares of Textron Inc. (NYSE:TXT) by 3.2% in the fourth quarter, HoldingsChannel.com reports. The fund owned 11,444 shares of the aerospace company’s stock after selling 378 shares during the period. Hartford Investment Management Co.’s holdings in Textron were worth $875,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Exchange Traded Concepts LLC raised its stake in shares of Textron by 2,211.2% during the 3rd quarter. Exchange Traded Concepts LLC now owns 2,473 shares of the aerospace company’s stock worth $219,000 after purchasing an additional 2,366 shares during the period. Creative Planning raised its position in Textron by 0.4% in the third quarter. Creative Planning now owns 37,304 shares of the aerospace company’s stock worth $3,304,000 after acquiring an additional 165 shares during the period. Trust Co. of Vermont boosted its stake in Textron by 94.7% in the third quarter. Trust Co. of Vermont now owns 915 shares of the aerospace company’s stock valued at $81,000 after acquiring an additional 445 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of Textron by 2.4% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 18,577 shares of the aerospace company’s stock valued at $1,646,000 after acquiring an additional 429 shares during the period. Finally, Net Worth Advisory Group purchased a new stake in shares of Textron during the 3rd quarter worth approximately $277,000. 86.03% of the stock is currently owned by institutional investors.

Textron Stock Performance

Shares of TXT opened at $72.35 on Friday. Textron Inc. has a 12-month low of $72.03 and a 12-month high of $97.33. The company has a current ratio of 1.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.40. The company has a market cap of $13.42 billion, a PE ratio of 16.79, a price-to-earnings-growth ratio of 1.23 and a beta of 1.27. The stock has a 50-day moving average price of $77.13 and a 200-day moving average price of $83.30.

Textron (NYSE:TXT) last released its quarterly earnings results on Wednesday, January 22nd. The aerospace company reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.27 by $0.07. The business had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $3.78 billion. Textron had a net margin of 6.01% and a return on equity of 14.92%. The business’s quarterly revenue was down 7.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.60 EPS. As a group, equities analysts forecast that Textron Inc. will post 6.1 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have weighed in on TXT. Morgan Stanley reduced their price objective on Textron from $86.00 to $82.00 and set an “equal weight” rating for the company in a report on Thursday, January 23rd. Vertical Research upgraded Textron from a “hold” rating to a “buy” rating and set a $91.00 price objective on the stock in a research note on Monday, January 6th. Robert W. Baird cut their target price on shares of Textron from $100.00 to $92.00 and set an “outperform” rating for the company in a research report on Thursday, January 23rd. JPMorgan Chase & Co. lowered their price target on shares of Textron from $90.00 to $88.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Finally, TD Cowen raised shares of Textron to a “hold” rating in a report on Thursday, December 19th. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $93.45.

About Textron

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.