Huntington National Bank Lowers Stock Position in Textron Inc. (NYSE:TXT)

Huntington National Bank trimmed its stake in Textron Inc. (NYSE:TXT) by 28.9% during the fourth quarter, Holdings Channel.com reports. The fund owned 1,722 shares of the aerospace company’s stock after selling 699 shares during the period. Huntington National Bank’s holdings in Textron were worth $132,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in TXT. SBI Securities Co. Ltd. acquired a new position in Textron during the fourth quarter worth $31,000. Eastern Bank acquired a new position in Textron during the 4th quarter worth about $42,000. Golden State Wealth Management LLC purchased a new position in Textron during the 4th quarter valued at about $63,000. McClarren Financial Advisors Inc. acquired a new position in Textron in the 4th quarter valued at about $68,000. Finally, Geneos Wealth Management Inc. increased its stake in Textron by 33.0% during the fourth quarter. Geneos Wealth Management Inc. now owns 964 shares of the aerospace company’s stock worth $74,000 after purchasing an additional 239 shares during the period. 86.03% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently weighed in on TXT. TD Cowen upgraded shares of Textron to a “hold” rating in a report on Monday, February 24th. Susquehanna cut their price objective on Textron from $100.00 to $90.00 and set a “positive” rating on the stock in a research report on Wednesday, January 8th. Robert W. Baird decreased their target price on Textron from $100.00 to $92.00 and set an “outperform” rating for the company in a report on Thursday, January 23rd. Citigroup cut their price target on Textron from $118.00 to $111.00 and set a “buy” rating on the stock in a report on Tuesday, January 21st. Finally, Barclays decreased their price objective on Textron from $104.00 to $95.00 and set an “overweight” rating for the company in a research note on Monday, December 23rd. One investment 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $93.45.

Insider Buying and Selling at Textron

In other news, VP Mark S. Bamford sold 5,451 shares of Textron stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $72.68, for a total transaction of $396,178.68. Following the sale, the vice president now owns 18,223 shares in the company, valued at approximately $1,324,447.64. The trade was a 23.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.70% of the stock is currently owned by insiders.

Textron Trading Down 9.5 %

TXT opened at $60.54 on Friday. The business’s 50-day simple moving average is $73.49 and its 200-day simple moving average is $79.56. The company has a market cap of $11.00 billion, a P/E ratio of 14.05, a PEG ratio of 1.18 and a beta of 1.06. Textron Inc. has a one year low of $60.38 and a one year high of $97.34. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.84 and a current ratio of 1.76.

Textron (NYSE:TXT) last announced its quarterly earnings results on Wednesday, January 22nd. The aerospace company reported $1.34 EPS for the quarter, beating the consensus estimate of $1.27 by $0.07. The company had revenue of $3.61 billion for the quarter, compared to analyst estimates of $3.78 billion. Textron had a net margin of 6.01% and a return on equity of 14.92%. The firm’s revenue was down 7.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.60 earnings per share. As a group, equities research analysts expect that Textron Inc. will post 6.12 EPS for the current fiscal year.

Textron Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were given a $0.02 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.08 dividend on an annualized basis and a yield of 0.13%. Textron’s dividend payout ratio (DPR) is presently 1.86%.

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.