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

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

Several other institutional investors have also made changes to their positions in the stock. True Wealth Design LLC purchased a new stake in Textron in the 3rd quarter worth approximately $26,000. Capital Performance Advisors LLP acquired a new position in shares of Textron in the third quarter worth $42,000. Truvestments Capital LLC purchased a new stake in shares of Textron during the third quarter worth $43,000. Eastern Bank acquired a new stake in Textron during the fourth quarter valued at $42,000. Finally, Venturi Wealth Management LLC grew its stake in Textron by 69.5% in the third 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 in the last quarter. 86.03% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Vertical Research raised Textron from a “hold” rating to a “buy” rating and set a $91.00 price target for the company in a research note on Monday, January 6th. UBS Group dropped their price objective on Textron from $87.00 to $79.00 and set a “sell” rating on the stock in a report on Friday, October 25th. Robert W. Baird reduced 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. Barclays dropped their price target on shares of Textron from $104.00 to $95.00 and set an “overweight” rating on the stock in a research note on Monday, December 23rd. Finally, TD Cowen raised shares of Textron to a “hold” rating in a research note on Thursday, December 19th. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $98.64.

Textron Stock Performance

TXT opened at $78.62 on Thursday. The company has a quick ratio of 0.82, a current ratio of 1.83 and a debt-to-equity ratio of 0.46. Textron Inc. has a 12-month low of $74.89 and a 12-month high of $97.33. The stock’s 50 day moving average price is $81.20 and its two-hundred day moving average price is $85.28. The firm has a market capitalization of $14.58 billion, a P/E ratio of 17.28, a price-to-earnings-growth ratio of 1.15 and a beta of 1.27.

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

Textron Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 1st. Shareholders of record on Friday, December 13th were paid 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 yield of 0.10%. Textron’s dividend payout ratio is currently 1.76%.

Textron Company 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.