Wesbanco Bank Inc. Buys 384 Shares of Textron Inc. (NYSE:TXT)

Wesbanco Bank Inc. grew its stake in shares of Textron Inc. (NYSE:TXT) by 0.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 61,453 shares of the aerospace company’s stock after buying an additional 384 shares during the period. Wesbanco Bank Inc.’s holdings in Textron were worth $4,701,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. True Wealth Design LLC bought a new stake in shares of Textron during the third quarter valued at about $26,000. Capital Performance Advisors LLP bought a new stake in shares of Textron during the third quarter valued at about $42,000. Truvestments Capital LLC bought a new stake in shares of Textron during the third quarter valued at about $43,000. Eastern Bank bought a new stake in shares of Textron during the fourth quarter valued at about $42,000. Finally, Venturi Wealth Management LLC increased its position in shares of Textron by 69.5% during the third quarter. Venturi Wealth Management LLC now owns 566 shares of the aerospace company’s stock valued at $50,000 after buying an additional 232 shares during the period. 86.03% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

TXT has been the subject of several recent analyst reports. Susquehanna cut 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. UBS Group cut their price objective on Textron from $87.00 to $79.00 and set a “sell” rating for the company in a report on Friday, October 25th. TD Cowen raised Textron to a “hold” rating in a report on Thursday, December 19th. Robert W. Baird cut their price objective on Textron from $109.00 to $100.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Finally, Vertical Research raised Textron from a “hold” rating to a “buy” rating and set a $91.00 price objective for the company in a report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $97.64.

Textron Stock Performance

NYSE:TXT opened at $78.40 on Thursday. The firm has a market cap of $14.54 billion, a PE ratio of 17.23, a price-to-earnings-growth ratio of 1.24 and a beta of 1.27. Textron Inc. has a fifty-two week low of $74.89 and a fifty-two week high of $97.33. 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 business has a 50 day moving average price of $80.19 and a 200-day moving average price of $85.01.

Textron (NYSE:TXT) last released its quarterly earnings data on Wednesday, January 22nd. The aerospace company reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.07. The firm had revenue of $3.61 billion during the quarter, compared to analyst estimates of $3,778,060 billion. Textron had a return on equity of 16.02% and a net margin of 6.30%. The business’s quarterly revenue was down 7.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.60 earnings per share. Equities research analysts predict that Textron Inc. will post 5.42 earnings per share for the current year.

About Textron

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.