Park Avenue Securities LLC Lowers Holdings in Textron Inc. (NYSE:TXT)

Park Avenue Securities LLC lowered its stake in shares of Textron Inc. (NYSE:TXT) by 14.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 5,598 shares of the aerospace company’s stock after selling 938 shares during the period. Park Avenue Securities LLC’s holdings in Textron were worth $428,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Brandes Investment Partners LP increased its position in shares of Textron by 20.0% in the second quarter. Brandes Investment Partners LP now owns 1,549,551 shares of the aerospace company’s stock valued at $133,096,000 after buying an additional 258,778 shares in the last quarter. AQR Capital Management LLC increased its holdings in Textron by 18.9% in the 2nd quarter. AQR Capital Management LLC now owns 1,451,293 shares of the aerospace company’s stock worth $124,608,000 after acquiring an additional 231,173 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its position in Textron by 13.3% during the third quarter. Robeco Institutional Asset Management B.V. now owns 495,411 shares of the aerospace company’s stock worth $43,884,000 after acquiring an additional 57,967 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its holdings in Textron by 0.9% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 471,039 shares of the aerospace company’s stock valued at $41,725,000 after purchasing an additional 4,327 shares in the last quarter. Finally, Wellington Management Group LLP grew its position in shares of Textron by 18.0% in the third quarter. Wellington Management Group LLP now owns 401,475 shares of the aerospace company’s stock valued at $35,563,000 after purchasing an additional 61,248 shares during the period. Institutional investors and hedge funds own 86.03% of the company’s stock.

Textron Stock Performance

Textron stock opened at $77.22 on Friday. The firm has a 50 day simple moving average of $79.88 and a 200-day simple moving average of $84.90. The stock has a market cap of $14.33 billion, a price-to-earnings ratio of 17.92, a price-to-earnings-growth ratio of 1.27 and a beta of 1.27. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.83 and a quick ratio of 0.82. Textron Inc. has a 1-year low of $74.89 and a 1-year high of $97.33.

Textron (NYSE:TXT) last announced its quarterly earnings results on Wednesday, January 22nd. The aerospace company reported $1.34 EPS for the quarter, beating the consensus estimate of $1.27 by $0.07. The business had revenue of $3.61 billion for the quarter, compared to analyst estimates of $3,778,060 billion. Textron had a return on equity of 14.92% and a net margin of 6.01%. The company’s quarterly revenue was down 7.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.60 EPS. On average, analysts expect that Textron Inc. will post 6.15 EPS for the current year.

Wall Street Analysts Forecast Growth

TXT has been the subject of several research analyst reports. JPMorgan Chase & Co. reduced their price target on shares of Textron from $90.00 to $88.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Citigroup lowered their price target on Textron from $118.00 to $111.00 and set a “buy” rating on the stock in a research note on Tuesday. Barclays dropped their price target on Textron from $104.00 to $95.00 and set an “overweight” rating for the company in a research report on Monday, December 23rd. Robert W. Baird decreased their price objective on Textron from $100.00 to $92.00 and set an “outperform” rating on the stock in a report on Thursday. Finally, Morgan Stanley dropped their target price on shares of Textron from $86.00 to $82.00 and set an “equal weight” rating for the company in a report on Thursday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $93.45.

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.