AustralianSuper Pty Ltd Boosts Stake in Textron Inc. (NYSE:TXT)

AustralianSuper Pty Ltd boosted its stake in Textron Inc. (NYSE:TXT) by 56.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 132,921 shares of the aerospace company’s stock after buying an additional 48,147 shares during the quarter. AustralianSuper Pty Ltd owned approximately 0.07% of Textron worth $10,167,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TXT. Exchange Traded Concepts LLC lifted its stake in Textron by 2,211.2% in the 3rd quarter. Exchange Traded Concepts LLC now owns 2,473 shares of the aerospace company’s stock valued at $219,000 after buying an additional 2,366 shares in the last quarter. Creative Planning lifted its stake in shares of Textron by 0.4% during the 3rd quarter. Creative Planning now owns 37,304 shares of the aerospace company’s stock worth $3,304,000 after purchasing an additional 165 shares during the period. Trust Co. of Vermont lifted its stake in shares of Textron by 94.7% during the 3rd quarter. Trust Co. of Vermont now owns 915 shares of the aerospace company’s stock worth $81,000 after purchasing an additional 445 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of Textron by 2.4% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 18,577 shares of the aerospace company’s stock worth $1,646,000 after purchasing an additional 429 shares during the period. Finally, Net Worth Advisory Group purchased a new position in shares of Textron during the 3rd quarter worth $277,000. Hedge funds and other institutional investors own 86.03% of the company’s stock.

Textron Stock Down 1.0 %

Shares of NYSE TXT opened at $72.35 on Friday. Textron Inc. has a 12-month low of $72.03 and a 12-month high of $97.33. The company has a market cap of $13.42 billion, a P/E ratio of 16.79, a P/E/G ratio of 1.23 and a beta of 1.27. The company has a current ratio of 1.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.40. The stock has a fifty day moving average price of $77.13 and a 200 day moving average price of $83.30.

Textron (NYSE:TXT) last announced its quarterly earnings results on Wednesday, January 22nd. The aerospace company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.07. Textron had a return on equity of 14.92% and a net margin of 6.01%. The firm had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.78 billion. During the same period in the prior year, the firm earned $1.60 EPS. The firm’s quarterly revenue was down 7.2% compared to the same quarter last year. Research analysts anticipate that Textron Inc. will post 6.1 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on TXT shares. Vertical Research raised Textron from a “hold” rating to a “buy” rating and set a $91.00 price target on the stock in a research note on Monday, January 6th. Robert W. Baird reduced their price target on Textron from $100.00 to $92.00 and set an “outperform” rating on the stock in a research note on Thursday, January 23rd. Bank of America lowered Textron from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $110.00 to $85.00 in a research note on Friday, January 24th. Citigroup reduced their price target on Textron from $118.00 to $111.00 and set a “buy” rating on the stock in a research note on Tuesday, January 21st. Finally, Susquehanna dropped their price objective on Textron from $100.00 to $90.00 and set a “positive” rating for the company in a report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price 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.