First Hawaiian Bank Acquires 7,827 Shares of Textron Inc. (NYSE:TXT)

First Hawaiian Bank lifted its holdings in Textron Inc. (NYSE:TXT) by 138.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,493 shares of the aerospace company’s stock after buying an additional 7,827 shares during the quarter. First Hawaiian Bank’s holdings in Textron were worth $1,294,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC grew its holdings in Textron by 23.1% in the first quarter. GAMMA Investing LLC now owns 1,353 shares of the aerospace company’s stock worth $130,000 after purchasing an additional 254 shares during the period. Capital Market Strategies LLC grew its stake in shares of Textron by 24.4% in the 1st quarter. Capital Market Strategies LLC now owns 7,843 shares of the aerospace company’s stock worth $752,000 after buying an additional 1,538 shares during the last quarter. General Partner Inc. bought a new position in Textron during the 1st quarter valued at approximately $60,000. Kapitalo Investimentos Ltda purchased a new position in Textron during the fourth quarter valued at $227,000. Finally, Nomura Holdings Inc. bought a new stake in Textron in the fourth quarter worth $317,000. 86.03% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

TXT has been the subject of several analyst reports. The Goldman Sachs Group raised their price target on Textron from $103.00 to $120.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Citigroup upped their target price on shares of Textron from $104.00 to $111.00 and gave the stock a “buy” rating in a research note on Thursday, April 4th. Susquehanna reduced their price target on shares of Textron from $110.00 to $105.00 and set a “positive” rating for the company in a research report on Friday, April 26th. StockNews.com cut Textron from a “strong-buy” rating to a “buy” rating in a research report on Friday, April 26th. Finally, Bank of America raised Textron from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $85.00 to $105.00 in a report on Friday, March 8th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $99.29.

Insiders Place Their Bets

In related news, Director Kathleen M. Bader sold 11,870 shares of the firm’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $87.91, for a total value of $1,043,491.70. Following the completion of the transaction, the director now directly owns 3,756 shares of the company’s stock, valued at $330,189.96. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 1.80% of the company’s stock.

Textron Price Performance

Shares of NYSE:TXT opened at $85.96 on Thursday. The company has a quick ratio of 0.84, a current ratio of 1.81 and a debt-to-equity ratio of 0.46. Textron Inc. has a twelve month low of $64.42 and a twelve month high of $97.33. The stock has a market capitalization of $16.39 billion, a PE ratio of 18.37, a price-to-earnings-growth ratio of 1.36 and a beta of 1.28. The firm’s 50 day moving average price is $88.24 and its 200-day moving average price is $86.55.

Textron (NYSE:TXT) last issued its earnings results on Thursday, April 25th. The aerospace company reported $1.20 earnings per share for the quarter, missing the consensus estimate of $1.28 by ($0.08). Textron had a return on equity of 16.30% and a net margin of 6.75%. The firm had revenue of $3.14 billion during the quarter, compared to the consensus estimate of $3.29 billion. During the same period in the prior year, the company posted $1.05 EPS. The company’s quarterly revenue was up 3.7% on a year-over-year basis. Equities research analysts expect that Textron Inc. will post 6.27 EPS for the current year.

Textron Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.09%. The ex-dividend date of this dividend is Friday, June 14th. Textron’s dividend payout ratio is presently 1.71%.

About Textron

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.