Textron Inc. (NYSE:TXT) Shares Purchased by Empowered Funds LLC

Empowered Funds LLC boosted its position in Textron Inc. (NYSE:TXT) by 28.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 20,132 shares of the aerospace company’s stock after purchasing an additional 4,480 shares during the quarter. Empowered Funds LLC’s holdings in Textron were worth $1,540,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of TXT. Exchange Traded Concepts LLC lifted its holdings in shares of Textron by 2,211.2% during the 3rd quarter. Exchange Traded Concepts LLC now owns 2,473 shares of the aerospace company’s stock worth $219,000 after acquiring an additional 2,366 shares during the period. Creative Planning lifted its holdings in shares of Textron by 0.4% during the 3rd quarter. Creative Planning now owns 37,304 shares of the aerospace company’s stock worth $3,304,000 after acquiring an additional 165 shares during the period. Trust Co. of Vermont lifted its holdings in shares of Textron by 94.7% during the 3rd quarter. Trust Co. of Vermont now owns 915 shares of the aerospace company’s stock worth $81,000 after acquiring an additional 445 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of Textron by 2.4% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 18,577 shares of the aerospace company’s stock worth $1,646,000 after acquiring an additional 429 shares during the period. Finally, Net Worth Advisory Group purchased a new position in shares of Textron during the 3rd quarter worth about $277,000. Institutional investors and hedge funds own 86.03% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Bank of America lowered shares of Textron from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $110.00 to $85.00 in a report on Friday, January 24th. Robert W. Baird dropped their target price on shares of Textron from $100.00 to $92.00 and set an “outperform” rating for the company in a research report on Thursday, January 23rd. Barclays dropped 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. TD Cowen raised shares of Textron to a “hold” rating in a research report on Thursday, December 19th. 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 research report on Thursday, January 23rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $93.45.

Textron Price Performance

Shares of NYSE TXT opened at $72.35 on Friday. Textron Inc. has a fifty-two week low of $72.03 and a fifty-two week high of $97.33. The firm’s 50-day simple moving average is $77.13 and its 200 day simple moving average is $83.24. The company has a quick ratio of 0.82, a current ratio of 1.83 and a debt-to-equity ratio of 0.40. The stock has a market cap of $13.42 billion, a P/E ratio of 16.79, a P/E/G ratio of 1.23 and a beta of 1.27.

Textron (NYSE:TXT) last issued 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 for 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 company’s revenue was down 7.2% on a year-over-year basis. During the same period in the previous year, the business earned $1.60 earnings per share. Equities 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.