Twin Capital Management Inc. Decreases Holdings in Textron Inc. (NYSE:TXT)

Twin Capital Management Inc. cut its holdings in shares of Textron Inc. (NYSE:TXT - Free Report) by 40.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,840 shares of the aerospace company's stock after selling 13,700 shares during the period. Twin Capital Management Inc.'s holdings in Textron were worth $1,596,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in TXT. CVA Family Office LLC acquired a new stake in Textron during the 4th quarter worth approximately $29,000. Money Concepts Capital Corp lifted its position in shares of Textron by 109.0% in the 4th quarter. Money Concepts Capital Corp now owns 443 shares of the aerospace company's stock worth $31,000 after purchasing an additional 231 shares during the period. CENTRAL TRUST Co lifted its position in shares of Textron by 100.0% in the 3rd quarter. CENTRAL TRUST Co now owns 600 shares of the aerospace company's stock worth $35,000 after purchasing an additional 300 shares during the period. Global Retirement Partners LLC lifted its position in shares of Textron by 393.9% in the 3rd quarter. Global Retirement Partners LLC now owns 489 shares of the aerospace company's stock worth $37,000 after purchasing an additional 390 shares during the period. Finally, Trust Co. of Vermont acquired a new position in shares of Textron in the 3rd quarter worth approximately $37,000. 86.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on TXT shares. Bank of America upgraded shares of Textron from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $85.00 to $105.00 in a research report on Friday, March 8th. Citigroup boosted their price target on shares of Textron from $104.00 to $111.00 and gave the stock a "buy" rating in a research report on Thursday, April 4th. StockNews.com upgraded shares of Textron from a "buy" rating to a "strong-buy" rating in a research report on Thursday, January 25th. The Goldman Sachs Group boosted their target price on shares of Textron from $103.00 to $120.00 and gave the company a "buy" rating in a research report on Tuesday. Finally, UBS Group boosted their target price on shares of Textron from $77.00 to $81.00 and gave the company a "sell" rating in a research report on Friday, January 26th. One research analyst has rated the stock with a sell rating, two have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Textron currently has a consensus rating of "Moderate Buy" and a consensus target price of $93.63.

Textron Stock Up 0.8 %

TXT stock traded up $0.72 during midday trading on Friday, reaching $93.30. 1,252,058 shares of the company's stock traded hands, compared to its average volume of 1,151,151. The company has a market cap of $17.95 billion, a price-to-earnings ratio of 20.42, a P/E/G ratio of 1.45 and a beta of 1.30. The firm's fifty day moving average price is $91.65 and its 200-day moving average price is $83.38. The company has a quick ratio of 1.03, a current ratio of 1.92 and a debt-to-equity ratio of 0.50. Textron Inc. has a 52 week low of $61.27 and a 52 week high of $97.33.

Textron (NYSE:TXT - Get Free Report) last announced its quarterly earnings results on Wednesday, January 24th. The aerospace company reported $1.60 EPS for the quarter, beating analysts' consensus estimates of $1.53 by $0.07. The business had revenue of $3.89 billion during the quarter, compared to analyst estimates of $3.97 billion. Textron had a net margin of 6.73% and a return on equity of 16.05%. Textron's quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.07 EPS. As a group, sell-side analysts forecast that Textron Inc. will post 6.27 earnings per share for the current fiscal year.

Textron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were paid a dividend of $0.02 per share. The ex-dividend date was Thursday, March 14th. This represents a $0.08 dividend on an annualized basis and a yield of 0.09%. Textron's dividend payout ratio (DPR) is presently 1.75%.

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.