544 Shares in Textron Inc. (NYSE:TXT) Bought by Eastern Bank

Eastern Bank acquired a new stake in Textron Inc. (NYSE:TXT) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 544 shares of the aerospace company’s stock, valued at approximately $42,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. True Wealth Design LLC bought a new stake in shares of Textron in the 3rd quarter valued at $26,000. Capital Performance Advisors LLP acquired a new position in shares of Textron in the 3rd quarter valued at approximately $42,000. Truvestments Capital LLC bought a new stake in Textron during the 3rd quarter worth approximately $43,000. Venturi Wealth Management LLC raised its holdings in Textron by 69.5% during the 3rd quarter. Venturi Wealth Management LLC now owns 566 shares of the aerospace company’s stock worth $50,000 after buying an additional 232 shares during the period. Finally, Quarry LP bought a new position in Textron in the third quarter valued at approximately $81,000. Institutional investors own 86.03% of the company’s stock.

Textron Trading Up 0.7 %

Shares of Textron stock opened at $78.62 on Thursday. Textron Inc. has a 12-month low of $74.89 and a 12-month high of $97.33. The company has a quick ratio of 0.82, a current ratio of 1.83 and a debt-to-equity ratio of 0.46. The business’s 50 day moving average is $81.20 and its 200-day moving average is $85.28. The stock has a market cap of $14.58 billion, a P/E ratio of 17.28, a P/E/G ratio of 1.46 and a beta of 1.27.

Textron (NYSE:TXT) last announced its quarterly earnings results on Thursday, October 24th. The aerospace company reported $1.40 EPS for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.09). The firm had revenue of $3.43 billion during the quarter, compared to analyst estimates of $3.50 billion. Textron had a net margin of 6.30% and a return on equity of 16.02%. The business’s revenue was up 2.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.49 EPS. Equities research analysts predict that Textron Inc. will post 5.52 earnings per share for the current fiscal year.

Textron Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 1st. Shareholders of record on Friday, December 13th were paid a $0.02 dividend. The ex-dividend date was Friday, December 13th. This represents a $0.08 annualized dividend and a yield of 0.10%. Textron’s dividend payout ratio is 1.76%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on TXT shares. UBS Group lowered their price objective on shares of Textron from $87.00 to $79.00 and set a “sell” rating for the company in a research report on Friday, October 25th. Susquehanna dropped their price target on Textron from $100.00 to $90.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. TD Cowen upgraded Textron to a “hold” rating in a report on Thursday, December 19th. JPMorgan Chase & Co. decreased their price objective on Textron from $100.00 to $95.00 and set a “neutral” rating for the company in a report on Monday, October 14th. Finally, Barclays reduced their price target on Textron from $104.00 to $95.00 and set an “overweight” rating for the company in a research report on Monday, December 23rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $98.64.

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.