KBC Group NV Trims Position in Textron Inc. (NYSE:TXT)

KBC Group NV decreased its position in shares of Textron Inc. (NYSE:TXT) by 34.4% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 13,298 shares of the aerospace company’s stock after selling 6,987 shares during the period. KBC Group NV’s holdings in Textron were worth $1,017,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

TXT has been the topic of a number of recent analyst reports. Bank of America downgraded shares of Textron from a “buy” rating to a “neutral” rating and cut their price target for the stock from $110.00 to $85.00 in a research note on Friday, January 24th. UBS Group cut their price target on shares of Textron from $87.00 to $79.00 and set a “sell” rating on the stock in a research note on Friday, October 25th. Citigroup cut their price target on shares of Textron from $118.00 to $111.00 and set a “buy” rating on the stock in a research note on Tuesday, January 21st. Vertical Research raised shares of Textron from a “hold” rating to a “buy” rating and set a $91.00 price target on the stock in a research note on Monday, January 6th. Finally, Susquehanna cut their price target on shares of Textron from $100.00 to $90.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. One investment 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 data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $93.45.

Textron Stock Performance

Shares of TXT stock opened at $76.54 on Friday. The company’s fifty day simple moving average is $79.27 and its 200-day simple moving average is $84.46. Textron Inc. has a 52 week low of $74.89 and a 52 week high of $97.33. The company has a current ratio of 1.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.40. The company has a market cap of $14.20 billion, a PE ratio of 17.76, a P/E/G ratio of 1.24 and a beta of 1.27.

Textron (NYSE:TXT) last released its quarterly earnings results on Wednesday, January 22nd. The aerospace company reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.07. Textron had a net margin of 6.01% and a return on equity of 14.92%. The firm had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $3.78 billion. During the same quarter in the previous year, the firm posted $1.60 EPS. The firm’s quarterly revenue was down 7.2% on a year-over-year basis. As a group, equities research analysts anticipate 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.