Byrne Asset Management LLC Decreases Stock Holdings in Textron Inc. (NYSE:TXT)

Byrne Asset Management LLC lowered its holdings in Textron Inc. (NYSE:TXT) by 11.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,605 shares of the aerospace company’s stock after selling 206 shares during the period. Byrne Asset Management LLC’s holdings in Textron were worth $123,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. International Assets Investment Management LLC purchased a new position in shares of Textron during the 4th quarter valued at $11,523,000. National Bank of Canada FI lifted its holdings in Textron by 161.8% during the third quarter. National Bank of Canada FI now owns 145,174 shares of the aerospace company’s stock valued at $12,860,000 after purchasing an additional 89,724 shares during the last quarter. Vinva Investment Management Ltd boosted its position in Textron by 1,757.6% during the third quarter. Vinva Investment Management Ltd now owns 72,446 shares of the aerospace company’s stock worth $6,357,000 after purchasing an additional 68,546 shares during the period. Wellington Management Group LLP increased its stake in shares of Textron by 18.0% in the third quarter. Wellington Management Group LLP now owns 401,475 shares of the aerospace company’s stock worth $35,563,000 after purchasing an additional 61,248 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its stake in shares of 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 buying an additional 57,967 shares in the last quarter. Institutional investors own 86.03% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on TXT. Robert W. Baird decreased their price objective on Textron from $100.00 to $92.00 and set an “outperform” rating on the stock in a research note on Thursday, January 23rd. Susquehanna lowered their price target on shares of Textron from $100.00 to $90.00 and set a “positive” rating on the stock in a report on Wednesday, January 8th. Citigroup reduced their price objective on shares of Textron from $118.00 to $111.00 and set a “buy” rating for the company in a research note on Tuesday, January 21st. Bank of America downgraded shares of Textron from a “buy” rating to a “neutral” rating and cut their price target for the company from $110.00 to $85.00 in a report on Friday, January 24th. Finally, Vertical Research upgraded Textron from a “hold” rating to a “buy” rating and set a $91.00 price objective on the stock in a research report on Monday, January 6th. 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 stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $93.45.

Textron Stock Performance

NYSE TXT opened at $74.49 on Friday. The firm has a market cap of $13.82 billion, a price-to-earnings ratio of 17.28, a PEG ratio of 1.23 and a beta of 1.27. The company has a 50-day simple moving average of $78.24 and a two-hundred day simple moving average of $83.93. The company has a quick ratio of 0.82, a current ratio of 1.83 and a debt-to-equity ratio of 0.40. Textron Inc. has a 12-month low of $74.12 and a 12-month high of $97.33.

Textron (NYSE:TXT) last announced its quarterly 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. Textron had a return on equity of 14.92% and a net margin of 6.01%. The business had revenue of $3.61 billion for the quarter, compared to analysts’ expectations of $3.78 billion. During the same period in the previous year, the firm earned $1.60 EPS. The business’s quarterly revenue was down 7.2% on a year-over-year basis. On average, equities analysts forecast that Textron Inc. will post 6.1 EPS for the current year.

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.