CIBC Asset Management Inc Purchases 1,081 Shares of Textron Inc. (NYSE:TXT)

CIBC Asset Management Inc boosted its position in Textron Inc. (NYSE:TXT) by 3.9% during the fourth quarter, Holdings Channel.com reports. The fund owned 28,609 shares of the aerospace company’s stock after acquiring an additional 1,081 shares during the period. CIBC Asset Management Inc’s holdings in Textron were worth $2,188,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. International Assets Investment Management LLC bought a new stake in shares of Textron in the fourth quarter worth about $11,523,000. National Bank of Canada FI lifted its holdings in Textron by 161.8% in the 3rd quarter. National Bank of Canada FI now owns 145,174 shares of the aerospace company’s stock worth $12,860,000 after buying an additional 89,724 shares during the period. Vinva Investment Management Ltd grew its position in shares of Textron by 1,757.6% in the 3rd quarter. Vinva Investment Management Ltd now owns 72,446 shares of the aerospace company’s stock worth $6,357,000 after buying an additional 68,546 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of Textron by 18.0% during the third quarter. Wellington Management Group LLP now owns 401,475 shares of the aerospace company’s stock valued at $35,563,000 after buying an additional 61,248 shares during the period. Finally, Robeco Institutional Asset Management B.V. increased its position in Textron by 13.3% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 495,411 shares of the aerospace company’s stock valued at $43,884,000 after purchasing an additional 57,967 shares during the period. Hedge funds and other institutional investors own 86.03% of the company’s stock.

Textron Trading Down 0.1 %

NYSE:TXT opened at $72.34 on Friday. Textron Inc. has a 52 week low of $71.67 and a 52 week high of $97.33. The stock has a market cap of $13.21 billion, a price-to-earnings ratio of 16.78, a PEG ratio of 1.18 and a beta of 1.27. The company’s 50 day moving average price is $76.20 and its 200-day moving average price is $82.71. The company has a quick ratio of 0.84, a current ratio of 1.76 and a debt-to-equity ratio of 0.45.

Textron (NYSE:TXT) last posted its earnings results on Wednesday, January 22nd. The aerospace company reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.27 by $0.07. The business had revenue of $3.61 billion during the quarter, compared to analyst estimates of $3.78 billion. Textron had a return on equity of 14.92% and a net margin of 6.01%. The company’s quarterly revenue was down 7.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.60 EPS. On average, equities research analysts forecast that Textron Inc. will post 6.12 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on TXT shares. Morgan Stanley reduced their target price on Textron from $86.00 to $82.00 and set an “equal weight” rating on the stock in a report on Thursday, January 23rd. Citigroup reduced their target price on shares of Textron from $118.00 to $111.00 and set a “buy” rating on the stock in a research report on Tuesday, January 21st. Barclays decreased their price target on shares of Textron from $104.00 to $95.00 and set an “overweight” rating for the company in a research note on Monday, December 23rd. Robert W. Baird dropped their price objective on shares of Textron from $100.00 to $92.00 and set an “outperform” rating on the stock in a research note on Thursday, January 23rd. Finally, JPMorgan Chase & Co. decreased their target price on shares of Textron from $90.00 to $88.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $93.45.

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.