Hancock Whitney Corp Purchases New Position in Textron Inc. (NYSE:TXT)

Hancock Whitney Corp acquired a new stake in Textron Inc. (NYSE:TXT) during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 2,421 shares of the aerospace company’s stock, valued at approximately $214,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Truvestments Capital LLC bought a new stake in shares of Textron in the third quarter worth approximately $43,000. DRW Securities LLC bought a new stake in Textron in the 3rd quarter worth approximately $523,000. Independent Advisor Alliance raised its stake in Textron by 4.2% during the 3rd quarter. Independent Advisor Alliance now owns 33,000 shares of the aerospace company’s stock valued at $2,923,000 after buying an additional 1,339 shares during the last quarter. Dynamic Technology Lab Private Ltd raised its stake in Textron by 57.6% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 16,094 shares of the aerospace company’s stock valued at $1,426,000 after buying an additional 5,880 shares during the last quarter. Finally, Prosperity Financial Group Inc. lifted its holdings in shares of Textron by 7.9% during the 3rd quarter. Prosperity Financial Group Inc. now owns 4,582 shares of the aerospace company’s stock valued at $406,000 after buying an additional 335 shares during the period. 86.03% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on TXT. TD Cowen lowered Textron from a “buy” rating to a “hold” rating and cut their price objective for the stock from $103.00 to $95.00 in a report on Wednesday, September 25th. StockNews.com downgraded Textron from a “strong-buy” rating to a “buy” rating in a research note on Thursday, September 12th. JPMorgan Chase & Co. lowered their price objective on shares of Textron from $100.00 to $95.00 and set a “neutral” rating on the stock in a research note on Monday, October 14th. UBS Group cut their target price on shares of Textron from $87.00 to $79.00 and set a “sell” rating for the company in a research report on Friday, October 25th. Finally, Robert W. Baird decreased their price target on shares of Textron from $109.00 to $100.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Textron currently has a consensus rating of “Moderate Buy” and an average price target of $101.56.

Textron Stock Performance

Shares of NYSE TXT opened at $85.10 on Thursday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.83 and a quick ratio of 0.82. Textron Inc. has a 1 year low of $74.13 and a 1 year high of $97.33. The firm has a fifty day moving average price of $85.90 and a 200-day moving average price of $87.17. The stock has a market cap of $15.79 billion, a PE ratio of 18.70, a price-to-earnings-growth ratio of 1.54 and a beta of 1.24.

Textron (NYSE:TXT) last posted its quarterly earnings results on Thursday, October 24th. The aerospace company reported $1.40 EPS for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.09). The business had revenue of $3.43 billion for the quarter, compared to the consensus estimate of $3.50 billion. Textron had a net margin of 6.30% and a return on equity of 16.02%. Textron’s revenue was up 2.5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.49 earnings per share. Equities analysts anticipate that Textron Inc. will post 5.53 earnings per share for the current fiscal year.

Textron Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Friday, December 13th will be paid a $0.02 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.08 annualized dividend and a yield of 0.09%. Textron’s payout ratio is 1.76%.

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.