Textron Inc. (NYSE:TXT) Shares Sold by Trustmark National Bank Trust Department

Trustmark National Bank Trust Department trimmed its position in Textron Inc. (NYSE:TXT) by 1.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 15,213 shares of the aerospace company’s stock after selling 214 shares during the period. Trustmark National Bank Trust Department’s holdings in Textron were worth $1,348,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Innealta Capital LLC purchased a new stake in shares of Textron during the 2nd quarter valued at approximately $25,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Textron in the second quarter worth $30,000. Oakworth Capital Inc. acquired a new position in shares of Textron in the second quarter worth $31,000. Family Firm Inc. acquired a new position in shares of Textron in the second quarter worth $40,000. Finally, Capital Performance Advisors LLP acquired a new position in shares of Textron in the third quarter worth $42,000. 86.03% of the stock is currently owned by institutional investors and hedge funds.

Textron Stock Up 2.6 %

TXT stock opened at $83.96 on Friday. The firm has a market capitalization of $15.58 billion, a P/E ratio of 18.45, a P/E/G ratio of 1.46 and a beta of 1.24. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.83 and a quick ratio of 0.82. The company’s 50 day simple moving average is $86.07 and its 200-day simple moving average is $87.22. Textron Inc. has a 52-week low of $74.13 and a 52-week high of $97.33.

Textron (NYSE:TXT) last issued its quarterly earnings results on Thursday, October 24th. The aerospace company reported $1.40 earnings per share for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.09). Textron had a net margin of 6.30% and a return on equity of 16.02%. The company had revenue of $3.43 billion during the quarter, compared to the consensus estimate of $3.50 billion. During the same period last year, the company earned $1.49 earnings per share. Textron’s revenue for the quarter was up 2.5% on a year-over-year basis. As a group, equities research analysts anticipate that Textron Inc. will post 5.53 EPS for the current year.

Textron Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 13th will be paid a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.10%. The ex-dividend date of this dividend is Friday, December 13th. Textron’s payout ratio is 1.76%.

Analyst Upgrades and Downgrades

Several research firms have commented on TXT. StockNews.com downgraded shares of Textron from a “strong-buy” rating to a “buy” rating in a research note on Thursday, September 12th. UBS Group lowered their target price on shares of Textron from $87.00 to $79.00 and set a “sell” rating for the company in a research note on Friday, October 25th. JPMorgan Chase & Co. lowered their target price on shares of Textron from $100.00 to $95.00 and set a “neutral” rating for the company in a research note on Monday, October 14th. Robert W. Baird lowered their target price on shares of Textron from $109.00 to $100.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Finally, Morgan Stanley downgraded shares of Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 target price for the company. in a research note on Thursday, August 8th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $101.56.

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.