Hancock Whitney Corp Makes New Investment in Textron Inc. (NYSE:TXT)

Hancock Whitney Corp bought a new stake in Textron Inc. (NYSE:TXT) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 2,366 shares of the aerospace company’s stock, valued at approximately $227,000.

Other hedge funds have also made changes to their positions in the company. Tidal Investments LLC lifted its stake in shares of Textron by 57.0% during the first quarter. Tidal Investments LLC now owns 10,868 shares of the aerospace company’s stock worth $1,043,000 after purchasing an additional 3,946 shares in the last quarter. California State Teachers Retirement System grew its position in Textron by 1.2% in the first quarter. California State Teachers Retirement System now owns 331,325 shares of the aerospace company’s stock valued at $31,784,000 after acquiring an additional 3,767 shares in the last quarter. Global Financial Private Client LLC raised its stake in shares of Textron by 13.4% during the first quarter. Global Financial Private Client LLC now owns 4,262 shares of the aerospace company’s stock valued at $406,000 after purchasing an additional 502 shares during the period. B. Riley Wealth Advisors Inc. raised its stake in shares of Textron by 17.0% during the first quarter. B. Riley Wealth Advisors Inc. now owns 4,402 shares of the aerospace company’s stock valued at $422,000 after purchasing an additional 640 shares during the period. Finally, Bayesian Capital Management LP purchased a new position in shares of Textron in the first quarter valued at $297,000. Hedge funds and other institutional investors own 86.03% of the company’s stock.

Insider Buying and Selling at Textron

In other news, Director Kathleen M. Bader sold 11,870 shares of the company’s stock in a transaction dated 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 owns 3,756 shares in the company, valued at $330,189.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.70% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

TXT has been the topic of several analyst reports. Bank of America lifted their price target on shares of Textron from $105.00 to $110.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Citigroup boosted their price target on Textron from $111.00 to $115.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. The Goldman Sachs Group raised their price objective on Textron from $103.00 to $120.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Susquehanna reduced their target price on Textron from $110.00 to $105.00 and set a “positive” rating for the company in a research note on Friday, April 26th. Finally, StockNews.com cut shares of Textron from a “strong-buy” rating to a “buy” rating in a report on Friday, April 26th. One 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 data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $101.63.

Textron Stock Performance

Shares of NYSE:TXT traded down $3.24 on Friday, reaching $87.36. 281,862 shares of the company’s stock were exchanged, compared to its average volume of 1,119,076. Textron Inc. has a fifty-two week low of $73.78 and a fifty-two week high of $97.33. The business’s 50-day moving average is $87.94 and its two-hundred day moving average is $88.63. The company has a quick ratio of 0.66, a current ratio of 1.64 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $16.37 billion, a price-to-earnings ratio of 19.36, a PEG ratio of 1.48 and a beta of 1.25.

Textron (NYSE:TXT) last issued its earnings results on Thursday, July 18th. The aerospace company reported $1.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.48 by $0.06. The firm had revenue of $3.53 billion for the quarter, compared to analysts’ expectations of $3.56 billion. Textron had a net margin of 6.67% and a return on equity of 16.41%. Textron’s revenue was up 3.0% on a year-over-year basis. During the same quarter last year, the company posted $1.46 earnings per share. As a group, equities research analysts forecast that Textron Inc. will post 6.26 EPS for the current year.

Textron Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be given a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.09%. The ex-dividend date of this dividend is Friday, September 13th. Textron’s dividend payout ratio is presently 1.71%.

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.