Textron Inc. (NYSE:TXT) Shares Sold by Wedmont Private Capital

Wedmont Private Capital trimmed its stake in shares of Textron Inc. (NYSE:TXT) by 6.3% during the fourth quarter, Holdings Channel reports. The firm owned 5,195 shares of the aerospace company’s stock after selling 351 shares during the period. Wedmont Private Capital’s holdings in Textron were worth $393,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in TXT. True Wealth Design LLC bought a new position in Textron during the 3rd quarter worth $26,000. Capital Performance Advisors LLP bought a new position in shares of Textron during the third quarter worth about $42,000. Truvestments Capital LLC acquired a new stake in shares of Textron in the 3rd quarter worth about $43,000. Venturi Wealth Management LLC lifted its position in Textron by 69.5% in the 3rd quarter. Venturi Wealth Management LLC now owns 566 shares of the aerospace company’s stock valued at $50,000 after purchasing an additional 232 shares during the last quarter. Finally, Trust Co. of Vermont boosted its stake in Textron by 94.7% during the 3rd quarter. Trust Co. of Vermont now owns 915 shares of the aerospace company’s stock valued at $81,000 after purchasing an additional 445 shares during the period. Institutional investors own 86.03% of the company’s stock.

Textron Stock Performance

NYSE:TXT opened at $78.62 on Thursday. The company has a 50-day moving average of $81.20 and a 200-day moving average of $85.28. The firm has a market cap of $14.58 billion, a price-to-earnings ratio of 17.28, a price-to-earnings-growth ratio of 1.46 and a beta of 1.27. The company has a current ratio of 1.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.46. Textron Inc. has a twelve month low of $74.89 and a twelve month high of $97.33.

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

Textron Dividend Announcement

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

Analyst Ratings Changes

TXT has been the topic of a number of recent analyst reports. Susquehanna cut their price target on Textron from $100.00 to $90.00 and set a “positive” rating on the stock in a report on Wednesday, January 8th. Robert W. Baird cut their target price on Textron from $109.00 to $100.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Barclays decreased their price target on Textron from $104.00 to $95.00 and set an “overweight” rating for the company in a research note on Monday, December 23rd. TD Cowen upgraded shares of Textron to a “hold” rating in a research note on Thursday, December 19th. Finally, Vertical Research upgraded shares of Textron from a “hold” rating to a “buy” rating and set a $91.00 target price for the company in a research report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $98.64.

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.