First Horizon Advisors Inc. Sells 194 Shares of Textron Inc. (NYSE:TXT)

First Horizon Advisors Inc. lessened its stake in shares of Textron Inc. (NYSE:TXT) by 9.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,960 shares of the aerospace company’s stock after selling 194 shares during the quarter. First Horizon Advisors Inc.’s holdings in Textron were worth $150,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Paradigm Asset Management Co. LLC grew its position in shares of Textron by 2.8% in the 4th quarter. Paradigm Asset Management Co. LLC now owns 11,200 shares of the aerospace company’s stock worth $857,000 after buying an additional 300 shares during the last quarter. Elk River Wealth Management LLC boosted its stake in Textron by 0.6% in the fourth quarter. Elk River Wealth Management LLC now owns 58,830 shares of the aerospace company’s stock valued at $4,501,000 after acquiring an additional 379 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund grew its holdings in Textron by 79.5% in the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 9,956 shares of the aerospace company’s stock worth $762,000 after purchasing an additional 4,409 shares during the last quarter. CIBC Asset Management Inc increased its position in shares of Textron by 3.9% during the fourth quarter. CIBC Asset Management Inc now owns 28,609 shares of the aerospace company’s stock worth $2,188,000 after purchasing an additional 1,081 shares in the last quarter. Finally, Allworth Financial LP lifted its holdings in shares of Textron by 11.6% during the 4th quarter. Allworth Financial LP now owns 1,801 shares of the aerospace company’s stock valued at $141,000 after purchasing an additional 187 shares during the last quarter. 86.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Textron

In related news, VP Mark S. Bamford sold 5,451 shares of the business’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $72.68, for a total value of $396,178.68. Following the completion of the transaction, the vice president now directly owns 18,223 shares in the company, valued at $1,324,447.64. The trade was a 23.03 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 1.70% of the company’s stock.

Textron Trading Down 0.3 %

Shares of Textron stock opened at $72.99 on Thursday. The stock has a market cap of $13.33 billion, a PE ratio of 16.94, a price-to-earnings-growth ratio of 1.18 and a beta of 1.27. The firm has a fifty day moving average price of $75.83 and a 200 day moving average price of $82.45. Textron Inc. has a 1 year low of $71.67 and a 1 year high of $97.33. 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 released its quarterly earnings data on Wednesday, January 22nd. The aerospace company reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.07. The business had revenue of $3.61 billion during the quarter, compared to analyst estimates of $3.78 billion. Textron had a return on equity of 14.92% and a net margin of 6.01%. The company’s revenue was down 7.2% on a year-over-year basis. During the same quarter last year, the business posted $1.60 EPS. Equities research analysts predict that Textron Inc. will post 6.12 earnings per share for the current year.

Textron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.11%. Textron’s dividend payout ratio is presently 1.86%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Robert W. Baird dropped their target price on Textron from $100.00 to $92.00 and set an “outperform” rating on the stock in a research note on Thursday, January 23rd. Morgan Stanley cut their price objective on shares of Textron from $86.00 to $82.00 and set an “equal weight” rating on the stock in a report on Thursday, January 23rd. Barclays lowered their target price on shares of Textron from $104.00 to $95.00 and set an “overweight” rating for the company in a research note on Monday, December 23rd. JPMorgan Chase & Co. cut their price target on shares of Textron from $90.00 to $88.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Finally, Bank of America cut shares of Textron from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $110.00 to $85.00 in a report on Friday, January 24th. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $93.45.

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.