Textron Inc. (NYSE:TXT) Stock Position Decreased by CHURCHILL MANAGEMENT Corp

CHURCHILL MANAGEMENT Corp reduced its stake in Textron Inc. (NYSE:TXT) by 82.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 30,084 shares of the aerospace company’s stock after selling 143,244 shares during the period. CHURCHILL MANAGEMENT Corp’s holdings in Textron were worth $2,301,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. True Wealth Design LLC acquired a new position in Textron during the 3rd quarter valued at approximately $26,000. Capital Performance Advisors LLP acquired a new position in shares of Textron during the third quarter valued at $42,000. Eastern Bank bought a new position in shares of Textron during the fourth quarter worth about $42,000. Truvestments Capital LLC acquired a new stake in shares of Textron in the 3rd quarter worth about $43,000. Finally, Venturi Wealth Management LLC lifted its position in Textron by 69.5% in the 3rd quarter. Venturi Wealth Management LLC now owns 566 shares of the aerospace company’s stock valued at $50,000 after purchasing an additional 232 shares during the last quarter. 86.03% of the stock is owned by institutional investors.

Textron Trading Up 0.7 %

Textron stock opened at $78.62 on Thursday. The firm has a market cap of $14.58 billion, a price-to-earnings ratio of 17.28, a price-to-earnings-growth ratio of 1.15 and a beta of 1.27. Textron Inc. has a 1 year low of $74.89 and a 1 year high of $97.33. The firm’s 50 day moving average price is $81.20 and its two-hundred day moving average price is $85.28. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.82 and a current ratio of 1.83.

Textron (NYSE:TXT) last announced its earnings results on Thursday, October 24th. The aerospace company reported $1.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.09). Textron had a return on equity of 16.02% and a net margin of 6.30%. The company had revenue of $3.43 billion for the quarter, compared to analyst estimates of $3.50 billion. During the same period last year, the firm earned $1.49 earnings per share. The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. On average, research analysts predict that Textron Inc. will post 5.45 EPS for the current fiscal year.

Textron Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 1st. Stockholders of record on Friday, December 13th were issued a dividend of $0.02 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.10%. Textron’s dividend payout ratio is currently 1.76%.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. JPMorgan Chase & Co. dropped their price target on shares of Textron from $100.00 to $95.00 and set a “neutral” rating on the stock in a research note on Monday, October 14th. Vertical Research raised Textron from a “hold” rating to a “buy” rating and set a $91.00 target price on the stock in a research note on Monday, January 6th. TD Cowen raised Textron to a “hold” rating in a research note on Thursday, December 19th. Barclays reduced their price objective on shares of Textron from $104.00 to $95.00 and set an “overweight” rating for the company in a report on Monday, December 23rd. Finally, Robert W. Baird lowered their target price on shares of Textron from $109.00 to $100.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $98.64.

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.