Fulton Bank N.A. Has $669,000 Stock Position in Textron Inc. (NYSE:TXT)

Fulton Bank N.A. lessened its position in shares of Textron Inc. (NYSE:TXT) by 1.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,553 shares of the aerospace company’s stock after selling 127 shares during the quarter. Fulton Bank N.A.’s holdings in Textron were worth $669,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of TXT. Davis Investment Partners LLC lifted its position in Textron by 0.8% in the third quarter. Davis Investment Partners LLC now owns 14,828 shares of the aerospace company’s stock worth $1,290,000 after purchasing an additional 118 shares during the period. Altman Advisors Inc. increased its stake in Textron by 0.6% in the second quarter. Altman Advisors Inc. now owns 22,057 shares of the aerospace company’s stock valued at $1,894,000 after acquiring an additional 129 shares during the period. True Vision MN LLC raised its position in Textron by 2.5% in the first quarter. True Vision MN LLC now owns 5,352 shares of the aerospace company’s stock worth $513,000 after purchasing an additional 133 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in Textron by 0.8% during the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 18,148 shares of the aerospace company’s stock worth $1,558,000 after purchasing an additional 146 shares during the period. Finally, Czech National Bank boosted its holdings in Textron by 0.5% during the first quarter. Czech National Bank now owns 34,487 shares of the aerospace company’s stock valued at $3,308,000 after purchasing an additional 157 shares in the last quarter. 86.03% of the stock is currently owned by institutional investors.

Textron Stock Performance

Shares of TXT stock opened at $84.95 on Wednesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.81 and a current ratio of 1.79. Textron Inc. has a 52 week low of $74.13 and a 52 week high of $97.33. The company’s 50 day moving average price is $87.57 and its two-hundred day moving average price is $88.76. The company has a market capitalization of $15.92 billion, a P/E ratio of 18.15, a price-to-earnings-growth ratio of 1.40 and a beta of 1.23.

Textron (NYSE:TXT) last posted its quarterly earnings data on Thursday, July 18th. The aerospace company reported $1.54 EPS for the quarter, beating the consensus estimate of $1.48 by $0.06. The business had revenue of $3.53 billion for the quarter, compared to analysts’ expectations of $3.56 billion. Textron had a net margin of 6.67% and a return on equity of 16.41%. The firm’s revenue was up 3.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.46 EPS. On average, analysts expect that Textron Inc. will post 6.18 earnings per share for the current fiscal year.

Textron Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were given a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.09%. The ex-dividend date of this dividend was Friday, September 13th. Textron’s dividend payout ratio is presently 1.71%.

Analysts Set New Price Targets

TXT has been the subject of a number of recent research reports. Citigroup increased their target price on Textron from $111.00 to $115.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Bank of America boosted their target price on shares of Textron from $105.00 to $110.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. UBS Group increased their target price on shares of Textron from $84.00 to $87.00 and gave the stock a “sell” rating in a research report on Friday, July 19th. TD Cowen cut shares of Textron from a “buy” rating to a “hold” rating and decreased their price target for the company from $103.00 to $95.00 in a research note on Wednesday, September 25th. Finally, Morgan Stanley lowered shares of Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 price objective on the stock. in a research note on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $101.50.

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.