TCW Group Inc. Sells 22,347 Shares of Textron Inc. (NYSE:TXT)

TCW Group Inc. lessened its holdings in Textron Inc. (NYSE:TXT) by 4.8% during the 4th quarter, HoldingsChannel reports. The firm owned 444,012 shares of the aerospace company’s stock after selling 22,347 shares during the period. TCW Group Inc.’s holdings in Textron were worth $33,962,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Robeco Institutional Asset Management B.V. increased its position in Textron by 3.3% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 511,770 shares of the aerospace company’s stock worth $39,145,000 after purchasing an additional 16,359 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its stake in Textron by 0.9% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 475,420 shares of the aerospace company’s stock worth $36,365,000 after buying an additional 4,381 shares during the period. Wellington Management Group LLP boosted its stake in Textron by 18.0% during the third quarter. Wellington Management Group LLP now owns 401,475 shares of the aerospace company’s stock worth $35,563,000 after buying an additional 61,248 shares during the period. BNP Paribas Financial Markets boosted its stake in Textron by 14.7% during the third quarter. BNP Paribas Financial Markets now owns 398,366 shares of the aerospace company’s stock worth $35,287,000 after buying an additional 50,936 shares during the period. Finally, National Pension Service boosted its stake in Textron by 2.6% during the third quarter. National Pension Service now owns 368,481 shares of the aerospace company’s stock worth $32,640,000 after buying an additional 9,491 shares during the period. Institutional investors own 86.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on TXT. Barclays dropped their price objective on shares of Textron from $104.00 to $95.00 and set an “overweight” rating for the company in a research note on Monday, December 23rd. JPMorgan Chase & Co. dropped their price objective on shares of Textron from $90.00 to $88.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Bank of America lowered shares of 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 research note on Friday, January 24th. Susquehanna dropped their price objective on shares of Textron from $100.00 to $90.00 and set a “positive” rating for the company in a research note on Wednesday, January 8th. Finally, Vertical Research raised shares of Textron from a “hold” rating to a “buy” rating and set a $91.00 price objective for the company in a research note on Monday, January 6th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $93.45.

Textron Stock Down 0.1 %

Shares of TXT opened at $72.34 on Friday. Textron Inc. has a 12-month low of $71.67 and a 12-month high of $97.33. The firm has a fifty day moving average price of $76.20 and a 200-day moving average price of $82.69. The firm has a market capitalization of $13.21 billion, a P/E ratio of 16.78, a P/E/G ratio of 1.18 and a beta of 1.27. 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 (NYSE:TXT) last released its quarterly earnings data on Wednesday, January 22nd. The aerospace company reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $0.07. Textron had a net margin of 6.01% and a return on equity of 14.92%. The company had revenue of $3.61 billion during the quarter, compared to analyst estimates of $3.78 billion. During the same period in the prior year, the firm earned $1.60 earnings per share. The firm’s revenue for the quarter was down 7.2% compared to the same quarter last year. Equities research analysts expect that Textron Inc. will post 6.12 earnings per share 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.