Comerica Bank Has $1.95 Million Position in Textron Inc. (NYSE:TXT)

Comerica Bank lessened its position in shares of Textron Inc. (NYSE:TXT) by 61.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 25,468 shares of the aerospace company’s stock after selling 40,789 shares during the period. Comerica Bank’s holdings in Textron were worth $1,948,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TXT. Pflug Koory LLC raised its holdings in Textron by 0.9% in the 4th quarter. Pflug Koory LLC now owns 13,778 shares of the aerospace company’s stock valued at $1,054,000 after acquiring an additional 125 shares in the last quarter. V Square Quantitative Management LLC boosted its stake in shares of Textron by 5.7% during the fourth quarter. V Square Quantitative Management LLC now owns 2,611 shares of the aerospace company’s stock valued at $200,000 after purchasing an additional 141 shares in the last quarter. Syon Capital LLC grew its holdings in Textron by 4.5% during the 4th quarter. Syon Capital LLC now owns 3,538 shares of the aerospace company’s stock worth $271,000 after acquiring an additional 153 shares during the last quarter. Patriot Financial Group Insurance Agency LLC increased its holdings in Textron by 5.8% in the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 2,977 shares of the aerospace company’s stock valued at $228,000 after purchasing an additional 163 shares during the period. Finally, Motley Fool Asset Management LLC raised its position in shares of Textron by 6.3% during the fourth quarter. Motley Fool Asset Management LLC now owns 2,732 shares of the aerospace company’s stock worth $209,000 after acquiring an additional 163 shares during the last quarter. 86.03% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Textron

In related news, VP Mark S. Bamford sold 5,451 shares of the business’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $72.68, for a total transaction of $396,178.68. Following the sale, the vice president now owns 18,223 shares of the company’s stock, valued at $1,324,447.64. The trade was a 23.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.70% of the stock is currently owned by company insiders.

Textron Trading Up 0.2 %

NYSE TXT opened at $72.36 on Friday. The company has a market capitalization of $13.06 billion, a price-to-earnings ratio of 16.79, a PEG ratio of 1.18 and a beta of 1.20. The stock’s 50-day simple moving average is $69.78 and its two-hundred day simple moving average is $75.89. The company has a quick ratio of 0.84, a current ratio of 1.76 and a debt-to-equity ratio of 0.45. Textron Inc. has a twelve month low of $57.70 and a twelve month high of $94.57.

Textron (NYSE:TXT) last released its earnings results on Thursday, April 24th. The aerospace company reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates of $1.17 by $0.11. Textron had a return on equity of 14.92% and a net margin of 6.01%. The company had revenue of $3.31 billion during the quarter, compared to analyst estimates of $3.26 billion. During the same quarter in the previous year, the company posted $1.20 EPS. Textron’s revenue for the quarter was up 5.5% on a year-over-year basis. Research analysts forecast that Textron Inc. will post 6.12 EPS for the current fiscal year.

Textron Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be given a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.11%. The ex-dividend date of this dividend is Friday, June 13th. Textron’s payout ratio is 1.81%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on TXT. Robert W. Baird lowered their target price on shares of Textron from $100.00 to $92.00 and set an “outperform” rating for the company in a research note on Thursday, January 23rd. Citigroup cut their price target on Textron from $111.00 to $107.00 and set a “buy” rating for the company in a research note on Thursday, April 10th. Bank of America downgraded shares of Textron from a “buy” rating to a “neutral” rating and lowered their target price for the company from $110.00 to $85.00 in a report on Friday, January 24th. Morgan Stanley decreased their target price on Textron from $82.00 to $71.00 and set an “equal weight” rating for the company in a research report on Friday, April 11th. Finally, TD Cowen raised shares of Textron to a “hold” rating in a report on Monday, February 24th. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Textron presently has an average rating of “Hold” and a consensus target price of $87.70.

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.