Elk River Wealth Management LLC Acquires 379 Shares of Textron Inc. (NYSE:TXT)

Elk River Wealth Management LLC lifted its holdings in Textron Inc. (NYSE:TXT) by 0.6% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 58,830 shares of the aerospace company’s stock after purchasing an additional 379 shares during the quarter. Elk River Wealth Management LLC’s holdings in Textron were worth $4,501,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in TXT. Merit Financial Group LLC raised its stake in shares of Textron by 5.9% in the fourth quarter. Merit Financial Group LLC now owns 4,784 shares of the aerospace company’s stock worth $366,000 after acquiring an additional 265 shares during the last quarter. Empowered Funds LLC increased its holdings in shares of Textron by 28.6% in the fourth quarter. Empowered Funds LLC now owns 20,132 shares of the aerospace company’s stock valued at $1,540,000 after purchasing an additional 4,480 shares in the last quarter. Franklin Resources Inc. raised its position in Textron by 10.3% in the 3rd quarter. Franklin Resources Inc. now owns 164,029 shares of the aerospace company’s stock worth $14,505,000 after purchasing an additional 15,294 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Textron by 44.6% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,390 shares of the aerospace company’s stock worth $1,343,000 after buying an additional 5,367 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. boosted its position in Textron by 0.9% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 475,420 shares of the aerospace company’s stock valued at $36,365,000 after buying an additional 4,381 shares during the last quarter. Institutional investors and hedge funds own 86.03% of the company’s stock.

Textron Stock Up 0.2 %

Shares of NYSE:TXT opened at $72.62 on Thursday. The company has a 50 day moving average price of $76.55 and a two-hundred day moving average price of $82.86. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.84 and a current ratio of 1.76. The company has a market capitalization of $13.26 billion, a PE ratio of 16.85, a PEG ratio of 1.18 and a beta of 1.27. Textron Inc. has a 52 week low of $71.94 and a 52 week high of $97.33.

Textron (NYSE:TXT) last issued its quarterly earnings data on Wednesday, January 22nd. The aerospace company reported $1.34 EPS for the quarter, topping the consensus estimate of $1.27 by $0.07. The business had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $3.78 billion. Textron had a return on equity of 14.92% and a net margin of 6.01%. The firm’s revenue was down 7.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.60 EPS. Analysts forecast that Textron Inc. will post 6.11 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have recently weighed in on TXT. Susquehanna dropped their target price on Textron from $100.00 to $90.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. Bank of America cut Textron from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $110.00 to $85.00 in a report on Friday, January 24th. Robert W. Baird reduced their target price on shares of Textron from $100.00 to $92.00 and set an “outperform” rating on the stock in a research note on Thursday, January 23rd. UBS Group dropped their price target on shares of Textron from $87.00 to $79.00 and set a “sell” rating for the company in a research note on Friday, October 25th. Finally, Citigroup reduced 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. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target 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.