Textron Inc. (NYSE:TXT) Position Lessened by Ferguson Wellman Capital Management Inc.

Ferguson Wellman Capital Management Inc. cut its stake in Textron Inc. (NYSE:TXT) by 2.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 442,511 shares of the aerospace company’s stock after selling 9,703 shares during the period. Ferguson Wellman Capital Management Inc.’s holdings in Textron were worth $33,848,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in TXT. International Assets Investment Management LLC bought a new position in Textron in the 4th quarter worth about $11,523,000. National Bank of Canada FI increased its position in Textron by 161.8% in the 3rd quarter. National Bank of Canada FI now owns 145,174 shares of the aerospace company’s stock valued at $12,860,000 after acquiring an additional 89,724 shares during the period. Vinva Investment Management Ltd raised its stake in Textron by 1,757.6% during the 3rd quarter. Vinva Investment Management Ltd now owns 72,446 shares of the aerospace company’s stock valued at $6,357,000 after acquiring an additional 68,546 shares in the last quarter. Wellington Management Group LLP boosted its position in Textron by 18.0% during the 3rd quarter. Wellington Management Group LLP now owns 401,475 shares of the aerospace company’s stock worth $35,563,000 after acquiring an additional 61,248 shares during the period. Finally, Robeco Institutional Asset Management B.V. grew its stake in shares of Textron by 13.3% in the third quarter. Robeco Institutional Asset Management B.V. now owns 495,411 shares of the aerospace company’s stock worth $43,884,000 after purchasing an additional 57,967 shares in the last quarter. 86.03% of the stock is currently owned by institutional investors.

Textron Price Performance

TXT opened at $74.49 on Monday. The stock has a fifty day moving average price of $78.24 and a 200 day moving average price of $83.83. The company has a current ratio of 1.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.40. Textron Inc. has a 1 year low of $74.12 and a 1 year high of $97.33. The stock has a market cap of $13.82 billion, a price-to-earnings ratio of 17.28, a PEG ratio of 1.23 and a beta of 1.27.

Textron (NYSE:TXT) last announced its quarterly earnings results on Wednesday, January 22nd. The aerospace company reported $1.34 EPS for the quarter, beating the consensus estimate 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 return on equity of 14.92% and a net margin of 6.01%. The firm’s quarterly revenue was down 7.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.60 EPS. Analysts forecast that Textron Inc. will post 6.1 EPS for the current fiscal year.

Wall Street Analyst Weigh In

TXT has been the subject of several research analyst reports. Susquehanna reduced their price objective on shares of Textron from $100.00 to $90.00 and set a “positive” rating for the company in a report on Wednesday, January 8th. Citigroup lowered their price target on Textron from $118.00 to $111.00 and set a “buy” rating on the stock in a research report on Tuesday, January 21st. JPMorgan Chase & Co. decreased their target price on Textron from $90.00 to $88.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Robert W. Baird dropped their target price on shares of Textron from $100.00 to $92.00 and set an “outperform” rating on the stock in a report on Thursday, January 23rd. Finally, TD Cowen upgraded shares of Textron to a “hold” rating in a report on Thursday, December 19th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus 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.