Assenagon Asset Management S.A. Sells 547 Shares of Textron Inc. (NYSE:TXT)

Assenagon Asset Management S.A. lessened its stake in shares of Textron Inc. (NYSE:TXT) by 14.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,256 shares of the aerospace company’s stock after selling 547 shares during the period. Assenagon Asset Management S.A.’s holdings in Textron were worth $249,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Kwmg LLC increased its position in shares of Textron by 2.7% in the fourth quarter. Kwmg LLC now owns 82,642 shares of the aerospace company’s stock worth $6,321,000 after purchasing an additional 2,184 shares during the period. Eastern Bank acquired a new stake in Textron during the fourth quarter worth about $42,000. Talbot Financial LLC bought a new position in Textron in the 4th quarter valued at about $327,000. Fiduciary Alliance LLC acquired a new position in shares of Textron in the 4th quarter valued at approximately $479,000. Finally, Czech National Bank lifted its holdings in shares of Textron by 5.4% during the 4th quarter. Czech National Bank now owns 40,223 shares of the aerospace company’s stock worth $3,077,000 after acquiring an additional 2,056 shares during the period. 86.03% of the stock is owned by institutional investors and hedge funds.

Textron Stock Performance

Textron stock opened at $77.22 on Friday. The business has a 50 day moving average of $79.88 and a 200-day moving average of $84.90. The company has a market capitalization of $14.33 billion, a P/E ratio of 17.92, a P/E/G ratio of 1.27 and a beta of 1.27. Textron Inc. has a 1 year low of $74.89 and a 1 year high of $97.33. 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 (NYSE:TXT) last announced its quarterly earnings results on Wednesday, January 22nd. The aerospace company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.07. The firm had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $3,778,060 billion. Textron had a net margin of 6.01% and a return on equity of 14.92%. The company’s revenue was down 7.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.60 EPS. On average, equities research analysts predict that Textron Inc. will post 6.15 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Bank of America cut shares of Textron from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $110.00 to $85.00 in a research note on Friday. Barclays decreased their price target on Textron from $104.00 to $95.00 and set an “overweight” rating on the stock in a research note on Monday, December 23rd. Robert W. Baird lowered their price target on Textron from $100.00 to $92.00 and set an “outperform” rating for the company in a report on Thursday. Vertical Research raised Textron from a “hold” rating to a “buy” rating and set a $91.00 price objective on the stock in a research note on Monday, January 6th. Finally, UBS Group lowered their target price on Textron from $87.00 to $79.00 and set a “sell” rating for the company in a research note on Friday, October 25th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average 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.