ING Groep NV Sells 1,364 Shares of Textron Inc. (NYSE:TXT)

ING Groep NV lowered its stake in shares of Textron Inc. (NYSE:TXT) by 5.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 23,694 shares of the aerospace company’s stock after selling 1,364 shares during the quarter. ING Groep NV’s holdings in Textron were worth $1,812,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Robeco Institutional Asset Management B.V. increased its holdings 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 worth $39,145,000 after purchasing an additional 16,359 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its position 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 worth $36,365,000 after buying an additional 4,381 shares in the last quarter. Wellington Management Group LLP increased its stake in 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 during the period. 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 valued at $35,287,000 after acquiring an additional 50,936 shares in the last quarter. Finally, National Pension Service lifted its position in shares of Textron by 2.6% in the 3rd quarter. National Pension Service now owns 368,481 shares of the aerospace company’s stock worth $32,640,000 after acquiring an additional 9,491 shares during the period. 86.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on TXT. Barclays lowered their price objective on Textron from $104.00 to $95.00 and set an “overweight” rating on the stock in a research report on Monday, December 23rd. Citigroup lowered their price target on shares of Textron from $118.00 to $111.00 and set a “buy” rating on the stock in a report on Tuesday, January 21st. Robert W. Baird reduced their price objective on shares of Textron from $100.00 to $92.00 and set an “outperform” rating for the company in a report on Thursday, January 23rd. TD Cowen raised shares of Textron to a “hold” rating in a research report on Thursday, December 19th. Finally, Bank of America cut shares of Textron from a “buy” rating to a “neutral” rating and cut their price target for the stock from $110.00 to $85.00 in a research note on Friday, January 24th. One investment 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. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $93.45.

Textron Stock Performance

NYSE:TXT opened at $72.34 on Monday. The stock has a market capitalization of $13.21 billion, a P/E 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 1 year low of $71.67 and a 1 year high of $97.33. The firm has a 50 day moving average of $76.20 and a 200-day moving average of $82.69.

Textron (NYSE:TXT) last posted its quarterly earnings data 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 company had revenue of $3.61 billion for the quarter, compared to analyst estimates of $3.78 billion. Textron had a return on equity of 14.92% and a net margin of 6.01%. The business’s revenue was down 7.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.60 earnings per share. As a group, sell-side analysts anticipate that Textron Inc. will post 6.12 EPS for the current fiscal year.

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.