First Hawaiian Bank Decreases Stock Position in Textron Inc. (NYSE:TXT)

First Hawaiian Bank reduced its position in shares of Textron Inc. (NYSE:TXT - Free Report) by 70.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,095 shares of the aerospace company's stock after selling 9,873 shares during the period. First Hawaiian Bank's holdings in Textron were worth $296,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. SBI Securities Co. Ltd. purchased a new position in shares of Textron during the fourth quarter valued at approximately $31,000. Optiver Holding B.V. bought a new stake in shares of Textron during the fourth quarter valued at approximately $56,000. MassMutual Private Wealth & Trust FSB increased its position in shares of Textron by 123.3% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 842 shares of the aerospace company's stock valued at $61,000 after acquiring an additional 465 shares in the last quarter. Golden State Wealth Management LLC bought a new stake in shares of Textron during the fourth quarter valued at approximately $63,000. Finally, McClarren Financial Advisors Inc. bought a new stake in shares of Textron during the fourth quarter valued at approximately $68,000. 86.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on TXT. UBS Group raised their price target on shares of Textron from $62.00 to $63.00 and gave the company a "sell" rating in a research report on Monday, April 28th. Morgan Stanley reduced their price target on shares of Textron from $82.00 to $71.00 and set an "equal weight" rating for the company in a research report on Friday, April 11th. Citigroup reduced their price target on shares of Textron from $111.00 to $107.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. Finally, TD Cowen raised shares of Textron to a "hold" rating in a research report on Monday, February 24th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Textron currently has an average rating of "Hold" and an average price target of $87.70.

Textron Price Performance

Shares of TXT traded up $0.05 during trading hours on Wednesday, reaching $74.54. 412,451 shares of the stock traded hands, compared to its average volume of 1,215,548. The company has a current ratio of 1.76, a quick ratio of 0.84 and a debt-to-equity ratio of 0.45. Textron Inc. has a 52-week low of $57.70 and a 52-week high of $94.57. The company's 50-day moving average price is $70.05 and its two-hundred day moving average price is $74.68. The company has a market cap of $13.46 billion, a P/E ratio of 17.29, a price-to-earnings-growth ratio of 1.18 and a beta of 1.20.

Textron (NYSE:TXT - Get Free Report) last released its earnings results on Thursday, April 24th. The aerospace company reported $1.28 earnings per share for the quarter, beating analysts' consensus estimates of $1.17 by $0.11. Textron had a net margin of 6.01% and a return on equity of 14.92%. The company had revenue of $3.31 billion for the quarter, compared to analysts' expectations of $3.26 billion. During the same quarter in the previous year, the company earned $1.20 EPS. Textron's revenue for the quarter was up 5.5% on a year-over-year basis. On average, analysts anticipate that Textron Inc. will post 6.12 earnings per share for the current year.

Textron Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be paid a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.11%. The ex-dividend date is Friday, June 13th. Textron's dividend payout ratio (DPR) is 1.81%.

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.