Textron Inc. (NYSE:TXT) Stock Position Decreased by Fulton Bank N.A.

Fulton Bank N.A. lessened its holdings in shares of Textron Inc. (NYSE:TXT) by 2.2% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,971 shares of the aerospace company’s stock after selling 206 shares during the period. Fulton Bank N.A.’s holdings in Textron were worth $861,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Adage Capital Partners GP L.L.C. grew its position in Textron by 93.7% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,474,191 shares of the aerospace company’s stock worth $115,193,000 after purchasing an additional 713,169 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Textron by 11.6% in the third quarter. JPMorgan Chase & Co. now owns 5,745,108 shares of the aerospace company’s stock valued at $448,923,000 after acquiring an additional 596,214 shares in the last quarter. LSV Asset Management boosted its holdings in shares of Textron by 15.9% in the fourth quarter. LSV Asset Management now owns 3,793,047 shares of the aerospace company’s stock valued at $305,037,000 after acquiring an additional 521,276 shares in the last quarter. International Assets Investment Management LLC bought a new position in shares of Textron in the fourth quarter valued at approximately $394,347,000. Finally, Ferguson Wellman Capital Management Inc. bought a new position in shares of Textron in the first quarter valued at approximately $45,932,000. Institutional investors own 86.03% of the company’s stock.

Insider Activity at Textron

In related news, Director Kathleen M. Bader sold 11,870 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $87.91, for a total value of $1,043,491.70. Following the completion of the sale, the director now owns 3,756 shares in the company, valued at approximately $330,189.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.80% of the stock is owned by insiders.

Textron Price Performance

TXT stock traded up $0.29 on Thursday, hitting $86.25. 812,977 shares of the company’s stock traded hands, compared to its average volume of 1,140,318. Textron Inc. has a 1-year low of $64.42 and a 1-year high of $97.33. The stock has a market cap of $16.45 billion, a price-to-earnings ratio of 18.37, a P/E/G ratio of 1.36 and a beta of 1.28. The stock has a fifty day moving average of $88.24 and a 200-day moving average of $86.55. The company has a current ratio of 1.81, a quick ratio of 0.84 and a debt-to-equity ratio of 0.46.

Textron (NYSE:TXT) last released its earnings results on Thursday, April 25th. The aerospace company reported $1.20 EPS for the quarter, missing the consensus estimate of $1.28 by ($0.08). The business had revenue of $3.14 billion for the quarter, compared to analyst estimates of $3.29 billion. Textron had a net margin of 6.75% and a return on equity of 16.30%. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same period in the prior year, the company earned $1.05 earnings per share. On average, analysts forecast that Textron Inc. will post 6.27 EPS for the current fiscal year.

Textron Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be given a $0.02 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.08 annualized dividend and a dividend yield of 0.09%. Textron’s dividend payout ratio (DPR) is presently 1.71%.

Analyst Ratings Changes

Several research firms have recently issued reports on TXT. Susquehanna decreased their price objective on shares of Textron from $110.00 to $105.00 and set a “positive” rating for the company in a report on Friday, April 26th. Citigroup increased their price objective on shares of Textron from $104.00 to $111.00 and gave the company a “buy” rating in a report on Thursday, April 4th. The Goldman Sachs Group increased their price objective on shares of Textron from $103.00 to $120.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. StockNews.com cut shares of Textron from a “strong-buy” rating to a “buy” rating in a report on Friday, April 26th. Finally, Bank of America raised shares of Textron from a “neutral” rating to a “buy” rating and increased their target price for the company from $85.00 to $105.00 in a research note on Friday, March 8th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $99.29.

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.