Textron Inc. (NYSE:TXT) Shares Sold by First Western Trust Bank

First Western Trust Bank decreased its holdings in Textron Inc. (NYSE:TXT) by 6.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,467 shares of the aerospace company’s stock after selling 224 shares during the quarter. First Western Trust Bank’s holdings in Textron were worth $279,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Victory Capital Management Inc. grew its holdings in shares of Textron by 3.4% in the 3rd quarter. Victory Capital Management Inc. now owns 6,756,439 shares of the aerospace company’s stock worth $527,948,000 after acquiring an additional 220,891 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Textron by 11.6% during the third quarter. JPMorgan Chase & Co. now owns 5,745,108 shares of the aerospace company’s stock valued at $448,923,000 after buying an additional 596,214 shares in the last quarter. Primecap Management Co. CA boosted its holdings in shares of Textron by 9.7% in the third quarter. Primecap Management Co. CA now owns 5,394,200 shares of the aerospace company’s stock worth $421,503,000 after buying an additional 477,720 shares during the period. LSV Asset Management increased its position 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 worth $305,037,000 after acquiring an additional 521,276 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in shares of Textron by 4.0% during the third quarter. Northern Trust Corp now owns 1,757,258 shares of the aerospace company’s stock valued at $137,312,000 after acquiring an additional 66,999 shares during the period. Institutional investors own 86.03% of the company’s stock.

Wall Street Analysts Forecast Growth

TXT has been the subject of a number of recent analyst reports. Bank of America upgraded shares of Textron from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $85.00 to $105.00 in a research report on Friday, March 8th. The Goldman Sachs Group upped their price target on Textron from $103.00 to $120.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. UBS Group raised their price objective on Textron from $77.00 to $81.00 and gave the stock a “sell” rating in a research report on Friday, January 26th. Susquehanna reduced their price target on shares of Textron from $110.00 to $105.00 and set a “positive” rating for the company in a research report on Friday, April 26th. Finally, StockNews.com downgraded shares of Textron from a “strong-buy” rating to a “buy” rating in a research report on Friday, April 26th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $95.63.

Textron Stock Up 2.0 %

Shares of Textron stock traded up $1.77 during midday trading on Thursday, reaching $88.49. 1,141,269 shares of the company’s stock traded hands, compared to its average volume of 1,218,970. The company has a market cap of $16.87 billion, a price-to-earnings ratio of 18.91, a price-to-earnings-growth ratio of 1.35 and a beta of 1.32. Textron Inc. has a 52 week low of $61.27 and a 52 week high of $97.33. The company’s 50 day simple moving average is $92.06 and its 200 day simple moving average is $84.35. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.84 and a current ratio of 1.81.

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

Textron Dividend Announcement

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

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.