Textron Inc. (NYSE:TXT) Shares Purchased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. raised its holdings in Textron Inc. (NYSE:TXT) by 44.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 17,390 shares of the aerospace company’s stock after acquiring an additional 5,367 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Textron were worth $1,343,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. True Wealth Design LLC purchased a new position in shares of Textron in the 3rd quarter valued at about $26,000. Capital Performance Advisors LLP acquired a new position in Textron during the third quarter worth about $42,000. Truvestments Capital LLC purchased a new position in Textron in the third quarter valued at about $43,000. Eastern Bank acquired a new stake in shares of Textron during the 4th quarter valued at approximately $42,000. Finally, Venturi Wealth Management LLC boosted its stake in shares of Textron by 69.5% during the 3rd quarter. Venturi Wealth Management LLC now owns 566 shares of the aerospace company’s stock worth $50,000 after acquiring an additional 232 shares in the last quarter. 86.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Morgan Stanley reduced their price objective on Textron from $86.00 to $82.00 and set an “equal weight” rating for the company in a report on Thursday, January 23rd. Vertical Research raised Textron from a “hold” rating to a “buy” rating and set a $91.00 price target for the company in a research note on Monday, January 6th. Citigroup lowered their price objective on shares of Textron from $118.00 to $111.00 and set a “buy” rating on the stock in a research note on Tuesday, January 21st. Barclays cut their target price on shares of Textron from $104.00 to $95.00 and set an “overweight” rating for the company in a research report on Monday, December 23rd. Finally, TD Cowen upgraded shares of Textron to a “hold” rating in a research report on Thursday, December 19th. One 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. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $93.45.

Textron Price Performance

TXT opened at $74.03 on Wednesday. Textron Inc. has a 1 year low of $73.50 and a 1 year high of $97.33. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.82 and a current ratio of 1.83. The company’s 50 day simple moving average is $77.78 and its 200 day simple moving average is $83.58. The stock has a market capitalization of $13.73 billion, a PE ratio of 17.18, a P/E/G ratio of 1.23 and a beta of 1.27.

Textron (NYSE:TXT) last announced its quarterly earnings data 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 company had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $3.78 billion. Textron had a net margin of 6.01% and a return on equity of 14.92%. The business’s quarterly revenue was down 7.2% compared to the same quarter last year. During the same period in the previous year, the company earned $1.60 EPS. As a group, sell-side analysts expect that Textron Inc. will post 6.1 EPS for the current 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.