Textron Inc. (NYSE:TXT) Shares Acquired by Merit Financial Group LLC

Merit Financial Group LLC lifted its holdings in Textron Inc. (NYSE:TXT) by 5.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,784 shares of the aerospace company’s stock after purchasing an additional 265 shares during the quarter. Merit Financial Group LLC’s holdings in Textron were worth $366,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Empirical Finance LLC increased its holdings in shares of Textron by 1.7% during the third quarter. Empirical Finance LLC now owns 7,047 shares of the aerospace company’s stock valued at $624,000 after acquiring an additional 115 shares in the last quarter. Davis Investment Partners LLC grew its position in Textron by 0.8% during the 3rd quarter. Davis Investment Partners LLC now owns 14,828 shares of the aerospace company’s stock worth $1,290,000 after purchasing an additional 118 shares during the last quarter. Apollon Wealth Management LLC increased its stake in Textron by 4.9% during the 3rd quarter. Apollon Wealth Management LLC now owns 2,655 shares of the aerospace company’s stock valued at $235,000 after purchasing an additional 125 shares in the last quarter. Creative Planning increased its position in shares of Textron by 0.4% in the 3rd quarter. Creative Planning now owns 37,304 shares of the aerospace company’s stock valued at $3,304,000 after acquiring an additional 165 shares during the period. Finally, US Bancorp DE raised its stake in Textron by 0.8% in the 3rd quarter. US Bancorp DE now owns 25,256 shares of the aerospace company’s stock worth $2,237,000 after acquiring an additional 192 shares during the last quarter. Institutional investors and hedge funds own 86.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on TXT. TD Cowen upgraded Textron to a “hold” rating in a research note on Thursday, December 19th. Susquehanna reduced their target price on shares of Textron from $100.00 to $90.00 and set a “positive” rating for the company in a report on Wednesday, January 8th. Morgan Stanley lowered their price target on shares of Textron from $86.00 to $82.00 and set an “equal weight” rating on the stock in a report on Thursday. Bank of America lowered Textron from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $110.00 to $85.00 in a report on Friday. Finally, UBS Group cut their target price on shares of Textron from $87.00 to $79.00 and set a “sell” rating for the company in a report on Friday, October 25th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Textron presently has an average rating of “Moderate Buy” and an average price target of $93.45.

Textron Stock Down 1.3 %

Shares of NYSE TXT opened at $77.22 on Friday. The firm 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’s 50-day simple moving average is $79.88 and its 200-day simple moving average is $84.90. The company has a quick ratio of 0.82, a current ratio of 1.83 and a debt-to-equity ratio of 0.40. Textron Inc. has a 52-week low of $74.89 and a 52-week high of $97.33.

Textron (NYSE:TXT) last released its earnings results on Wednesday, January 22nd. The aerospace company reported $1.34 earnings per share 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 the consensus estimate of $3,778,060 billion. Textron had a return on equity of 14.92% and a net margin of 6.01%. The business’s quarterly revenue was down 7.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.60 earnings per share. Equities analysts predict that Textron Inc. will post 6.15 EPS for the current fiscal year.

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.