Textron Inc. (NYSE:TXT) Position Raised by Foundations Investment Advisors LLC

Foundations Investment Advisors LLC raised its position in shares of Textron Inc. (NYSE:TXT) by 4.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,272 shares of the aerospace company’s stock after purchasing an additional 169 shares during the quarter. Foundations Investment Advisors LLC’s holdings in Textron were worth $327,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. The Manufacturers Life Insurance Company lifted its stake in Textron by 5.1% during the second quarter. The Manufacturers Life Insurance Company now owns 122,505 shares of the aerospace company’s stock valued at $10,518,000 after purchasing an additional 5,913 shares during the last quarter. Creative Planning lifted its position in shares of Textron by 1.0% during the 2nd quarter. Creative Planning now owns 37,139 shares of the aerospace company’s stock valued at $3,189,000 after acquiring an additional 355 shares during the last quarter. NewEdge Advisors LLC boosted its stake in shares of Textron by 3.1% during the 2nd quarter. NewEdge Advisors LLC now owns 26,823 shares of the aerospace company’s stock worth $2,303,000 after acquiring an additional 806 shares in the last quarter. Cetera Investment Advisers grew its holdings in shares of Textron by 4.7% in the 2nd quarter. Cetera Investment Advisers now owns 53,084 shares of the aerospace company’s stock worth $4,558,000 after acquiring an additional 2,400 shares during the last quarter. Finally, Sanctuary Advisors LLC acquired a new stake in shares of Textron during the second quarter worth $4,284,000. 86.03% of the stock is currently owned by institutional investors and hedge funds.

Textron Stock Performance

Shares of TXT stock opened at $76.54 on Friday. Textron Inc. has a fifty-two week low of $74.89 and a fifty-two week high of $97.33. The stock’s 50-day moving average is $79.27 and its two-hundred day moving average is $84.53. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.83 and a quick ratio of 0.82. The firm has a market cap of $14.20 billion, a P/E ratio of 17.76, a PEG ratio of 1.24 and a beta of 1.27.

Textron (NYSE:TXT) last issued its quarterly earnings data on Wednesday, January 22nd. The aerospace company reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.27 by $0.07. The firm had revenue of $3.61 billion for the quarter, compared to analyst estimates of $3.78 billion. Textron had a net margin of 6.01% and a return on equity of 14.92%. The company’s revenue for the quarter was down 7.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.60 earnings per share. Analysts predict that Textron Inc. will post 6.1 earnings per share for the current fiscal year.

Analysts Set New Price Targets

TXT has been the topic of a number of analyst reports. TD Cowen raised Textron to a “hold” rating in a research note on Thursday, December 19th. Robert W. Baird dropped their target price on shares of Textron from $100.00 to $92.00 and set an “outperform” rating on the stock in a research report on Thursday, January 23rd. Citigroup reduced their price target on shares of Textron from $118.00 to $111.00 and set a “buy” rating for the company in a research report on Tuesday, January 21st. Barclays lowered their price objective on shares of Textron from $104.00 to $95.00 and set an “overweight” rating on the stock in a research report on Monday, December 23rd. Finally, JPMorgan Chase & Co. reduced their target price on Textron from $90.00 to $88.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $93.45.

Textron 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.