Central Pacific Bank Trust Division Has $1.85 Million Position in Textron Inc. (NYSE:TXT)

Central Pacific Bank Trust Division raised its stake in shares of Textron Inc. (NYSE:TXT) by 4.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 24,200 shares of the aerospace company’s stock after buying an additional 1,000 shares during the period. Central Pacific Bank Trust Division’s holdings in Textron were worth $1,851,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Dimensional Fund Advisors LP increased its position in Textron by 6.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,808,600 shares of the aerospace company’s stock worth $241,152,000 after purchasing an additional 160,923 shares during the last quarter. Brandes Investment Partners LP raised its position in Textron by 20.0% during the second quarter. Brandes Investment Partners LP now owns 1,549,551 shares of the aerospace company’s stock valued at $133,096,000 after acquiring an additional 258,778 shares in the last quarter. AQR Capital Management LLC lifted its stake in Textron by 18.9% in the second quarter. AQR Capital Management LLC now owns 1,451,293 shares of the aerospace company’s stock valued at $124,608,000 after acquiring an additional 231,173 shares during the last quarter. TD Asset Management Inc grew its position in Textron by 3.2% in the second quarter. TD Asset Management Inc now owns 1,087,342 shares of the aerospace company’s stock worth $93,359,000 after acquiring an additional 33,394 shares in the last quarter. Finally, Hsbc Holdings PLC raised its holdings in shares of Textron by 3.9% during the 2nd quarter. Hsbc Holdings PLC now owns 626,323 shares of the aerospace company’s stock valued at $53,830,000 after purchasing an additional 23,404 shares in the last quarter. 86.03% of the stock is owned by institutional investors and hedge funds.

Textron Price Performance

Textron stock traded down $0.15 on Friday, reaching $75.64. The company’s stock had a trading volume of 510,998 shares, compared to its average volume of 838,628. The business’s fifty day moving average price is $82.15 and its 200 day moving average price is $85.86. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.82 and a current ratio of 1.83. The company has a market cap of $14.03 billion, a price-to-earnings ratio of 16.62, a PEG ratio of 1.46 and a beta of 1.27. Textron Inc. has a twelve month low of $75.09 and a twelve month high of $97.33.

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 quarter in the previous year, the company posted $1.49 earnings per share. Textron’s revenue for the quarter was up 2.5% on a year-over-year basis. Equities analysts expect that Textron Inc. will post 5.52 earnings per share for the current fiscal year.

Textron Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 1st. Shareholders of record on Friday, December 13th were given 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 0.11%. Textron’s payout ratio is presently 1.76%.

Analysts Set New Price Targets

TXT has been the topic of several analyst reports. 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 report on Friday, October 25th. TD Cowen raised Textron to a “hold” rating in a research note on Thursday, December 19th. StockNews.com cut Textron from a “strong-buy” rating to a “buy” rating in a research report on Thursday, September 12th. UBS Group dropped their price target on shares of Textron from $87.00 to $79.00 and set a “sell” rating on the stock in a research report on Friday, October 25th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Textron from $100.00 to $95.00 and set a “neutral” rating for the company in a report on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $100.90.

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.