3,025 Shares in Textron Inc. (NYSE:TXT) Purchased by Inlet Private Wealth LLC

Inlet Private Wealth LLC purchased a new position in Textron Inc. (NYSE:TXT) during the first quarter, Holdings Channel reports. The fund purchased 3,025 shares of the aerospace company’s stock, valued at approximately $219,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TXT. Balyasny Asset Management L.P. boosted its holdings in shares of Textron by 6,785.9% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,236,441 shares of the aerospace company’s stock worth $94,575,000 after buying an additional 1,218,485 shares during the last quarter. Invesco Ltd. lifted its holdings in Textron by 17.8% during the fourth quarter. Invesco Ltd. now owns 7,733,335 shares of the aerospace company’s stock valued at $591,523,000 after purchasing an additional 1,167,105 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Textron during the fourth quarter valued at about $41,451,000. D. E. Shaw & Co. Inc. lifted its holdings in Textron by 97.9% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,031,144 shares of the aerospace company’s stock valued at $78,872,000 after purchasing an additional 510,085 shares during the last quarter. Finally, Marshall Wace LLP purchased a new stake in Textron during the fourth quarter valued at about $22,370,000. 86.03% of the stock is owned by hedge funds and other institutional investors.

Textron Stock Down 1.8%

TXT stock opened at $79.45 on Monday. The company has a current ratio of 1.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.45. The company’s 50 day moving average is $78.99 and its 200 day moving average is $74.69. The stock has a market cap of $14.34 billion, a price-to-earnings ratio of 17.97, a price-to-earnings-growth ratio of 1.29 and a beta of 1.17. Textron Inc. has a 1-year low of $57.70 and a 1-year high of $93.98.

Textron (NYSE:TXT) last posted its quarterly earnings data on Thursday, July 24th. The aerospace company reported $1.55 earnings per share for the quarter, topping the consensus estimate of $1.45 by $0.10. The company had revenue of $3.72 billion for the quarter, compared to analysts’ expectations of $3.64 billion. Textron had a net margin of 5.80% and a return on equity of 14.26%. Textron’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.54 earnings per share. Sell-side analysts predict that Textron Inc. will post 6.12 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Susquehanna upped their price objective on shares of Textron from $90.00 to $95.00 and gave the company a “positive” rating in a report on Friday. Jefferies Financial Group reaffirmed a “buy” rating and set a $95.00 price objective (up from $85.00) on shares of Textron in a report on Thursday, June 12th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $85.00 price objective (down from $95.00) on shares of Textron in a report on Tuesday, July 1st. UBS Group upped their price objective on shares of Textron from $62.00 to $63.00 and gave the company a “sell” rating in a report on Monday, April 28th. Finally, Citigroup decreased their price target on Textron from $111.00 to $107.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $89.75.

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.