Pitcairn Co. Increases Stock Position in Textron Inc. (NYSE:TXT)

Pitcairn Co. grew its stake in Textron Inc. (NYSE:TXT) by 6.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,372 shares of the aerospace company’s stock after buying an additional 212 shares during the period. Pitcairn Co.’s holdings in Textron were worth $323,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in TXT. Raymond James Trust N.A. bought a new position in shares of Textron in the 4th quarter worth approximately $252,000. SG Americas Securities LLC lifted its stake in shares of Textron by 269.1% in the 4th quarter. SG Americas Securities LLC now owns 20,896 shares of the aerospace company’s stock worth $1,680,000 after purchasing an additional 15,235 shares during the period. HB Wealth Management LLC grew its position in shares of Textron by 21.6% during the 4th quarter. HB Wealth Management LLC now owns 4,052 shares of the aerospace company’s stock valued at $326,000 after acquiring an additional 721 shares during the period. Raymond James & Associates grew its stake in shares of Textron by 9.0% during the 4th quarter. Raymond James & Associates now owns 215,809 shares of the aerospace company’s stock valued at $17,355,000 after acquiring an additional 17,815 shares during the period. Finally, CVA Family Office LLC bought a new stake in Textron during the 4th quarter worth approximately $29,000. Institutional investors own 86.03% of the company’s stock.

Textron Stock Performance

NYSE:TXT traded up $1.22 during mid-day trading on Thursday, hitting $91.34. The company’s stock had a trading volume of 896,430 shares, compared to its average volume of 1,136,754. The business’s fifty day moving average is $87.56 and its two-hundred day moving average is $88.15. The stock has a market cap of $17.42 billion, a price-to-earnings ratio of 19.44, a PEG ratio of 1.47 and a beta of 1.25. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.64 and a quick ratio of 0.66. Textron Inc. has a 1 year low of $68.02 and a 1 year high of $97.33.

Textron (NYSE:TXT) last posted its earnings results on Thursday, July 18th. The aerospace company reported $1.54 EPS for the quarter, topping the consensus estimate of $1.48 by $0.06. Textron had a return on equity of 16.41% and a net margin of 6.67%. The firm had revenue of $3.53 billion for the quarter, compared to analyst estimates of $3.56 billion. During the same period last year, the company earned $1.46 earnings per share. Textron’s revenue for the quarter was up 3.0% compared to the same quarter last year. Analysts anticipate that Textron Inc. will post 6.26 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Bank of America raised their price objective on shares of Textron from $105.00 to $110.00 and gave the company a “buy” rating in a research report on Tuesday. Susquehanna dropped their price objective on Textron from $110.00 to $105.00 and set a “positive” rating for the company in a research note on Friday, April 26th. StockNews.com cut Textron from a “strong-buy” rating to a “buy” rating in a research report on Friday, April 26th. The Goldman Sachs Group upped their price target on Textron from $103.00 to $120.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Finally, Citigroup lifted their price objective on shares of Textron from $111.00 to $115.00 and gave the company a “buy” rating in a research report on Monday. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $101.63.

Insider Activity at Textron

In other Textron news, Director Kathleen M. Bader sold 11,870 shares of the company’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $87.91, for a total transaction of $1,043,491.70. Following the completion of the transaction, the director now directly owns 3,756 shares in the company, valued at $330,189.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.70% of the stock is owned by company insiders.

Textron Company 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.