Golden State Wealth Management LLC Purchases Shares of 822 Textron Inc. (NYSE:TXT)

Golden State Wealth Management LLC acquired a new position in shares of Textron Inc. (NYSE:TXT) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 822 shares of the aerospace company’s stock, valued at approximately $63,000.

Several other institutional investors have also recently modified their holdings of the stock. True Wealth Design LLC purchased a new position in Textron during the third quarter worth $26,000. Capital Performance Advisors LLP acquired a new stake in shares of Textron during the third quarter valued at $42,000. Truvestments Capital LLC purchased a new stake in Textron during the 3rd quarter worth about $43,000. Eastern Bank acquired a new position in Textron in the 4th quarter valued at about $42,000. Finally, Venturi Wealth Management LLC lifted its holdings in Textron by 69.5% in the 3rd quarter. Venturi Wealth Management LLC now owns 566 shares of the aerospace company’s stock valued at $50,000 after purchasing an additional 232 shares in the last quarter. 86.03% of the stock is currently owned by institutional investors and hedge funds.

Textron Stock Down 0.8 %

TXT opened at $73.95 on Tuesday. Textron Inc. has a 1 year low of $73.90 and a 1 year high of $97.33. The firm has a 50 day moving average price of $78.01 and a 200 day moving average price of $83.71. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.82 and a current ratio of 1.83. The company has a market cap of $13.72 billion, a PE ratio of 17.16, a price-to-earnings-growth ratio of 1.23 and a beta of 1.27.

Textron (NYSE:TXT) last released its quarterly earnings data on Wednesday, January 22nd. The aerospace company reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.07. The company had revenue of $3.61 billion during 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 business’s quarterly revenue was down 7.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.60 earnings per share. Sell-side analysts expect that Textron Inc. will post 6.1 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Citigroup lowered their price target on shares of Textron from $118.00 to $111.00 and set a “buy” rating for the company in a report on Tuesday, January 21st. Barclays cut their price target on Textron from $104.00 to $95.00 and set an “overweight” rating for the company in a report on Monday, December 23rd. Susquehanna decreased their price objective on Textron from $100.00 to $90.00 and set a “positive” rating on the stock in a report on Wednesday, January 8th. JPMorgan Chase & Co. lowered their price objective on Textron from $90.00 to $88.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Finally, UBS Group reduced their target price on Textron from $87.00 to $79.00 and set a “sell” rating on the stock in a research report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price 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.