Central Pacific Bank Trust Division Has $1.80 Million Stock Holdings in Textron Inc. (NYSE:TXT)

Central Pacific Bank Trust Division raised its stake in shares of Textron Inc. (NYSE:TXT) by 3.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 24,950 shares of the aerospace company’s stock after purchasing an additional 750 shares during the period. Central Pacific Bank Trust Division’s holdings in Textron were worth $1,803,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. bought a new stake in shares of Textron in the fourth quarter valued at approximately $31,000. Optiver Holding B.V. bought a new stake in shares of Textron in the fourth quarter valued at approximately $56,000. Golden State Wealth Management LLC bought a new stake in shares of Textron in the fourth quarter valued at approximately $63,000. MassMutual Private Wealth & Trust FSB boosted its position in shares of Textron by 123.3% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 842 shares of the aerospace company’s stock valued at $61,000 after acquiring an additional 465 shares during the period. Finally, McClarren Financial Advisors Inc. bought a new stake in shares of Textron in the fourth quarter valued at approximately $68,000. Institutional investors and hedge funds own 86.03% of the company’s stock.

Analyst Ratings Changes

TXT has been the subject of several research reports. Citigroup reduced their price objective on Textron from $111.00 to $107.00 and set a “buy” rating for the company in a research report on Thursday, April 10th. UBS Group increased their price objective on Textron from $62.00 to $63.00 and gave the company a “sell” rating in a research report on Monday, April 28th. TD Cowen raised Textron to a “hold” rating in a research report on Monday, February 24th. Finally, Morgan Stanley reduced 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. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $87.70.

Textron Stock Up 0.0%

Shares of TXT stock opened at $74.00 on Friday. The stock has a market cap of $13.36 billion, a P/E ratio of 17.17, a price-to-earnings-growth ratio of 1.18 and a beta of 1.20. Textron Inc. has a one year low of $57.70 and a one year high of $94.57. The stock has a fifty day moving average price of $70.11 and a 200 day moving average price of $75.02. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.76 and a quick ratio of 0.84.

Textron (NYSE:TXT) last issued its quarterly earnings data on Thursday, April 24th. The aerospace company reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.17 by $0.11. The company had revenue of $3.31 billion during the quarter, compared to analysts’ expectations of $3.26 billion. Textron had a return on equity of 14.92% and a net margin of 6.01%. The business’s revenue was up 5.5% on a year-over-year basis. During the same period last year, the business earned $1.20 earnings per share. Analysts predict that Textron Inc. will post 6.12 earnings per share for the current year.

Textron Dividend Announcement

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

Textron 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.