Stanley Laman Group Ltd. Buys 1,058 Shares of Textron Inc. (NYSE:TXT)

Stanley Laman Group Ltd. boosted its stake in Textron Inc. (NYSE:TXT) by 2.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 40,381 shares of the aerospace company’s stock after purchasing an additional 1,058 shares during the period. Stanley Laman Group Ltd.’s holdings in Textron were worth $3,089,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in TXT. Empirical Finance LLC increased its position in Textron by 1.7% in the 3rd quarter. Empirical Finance LLC now owns 7,047 shares of the aerospace company’s stock valued at $624,000 after acquiring an additional 115 shares during the period. Apollon Wealth Management LLC increased its position in shares of Textron by 4.9% during the third quarter. Apollon Wealth Management LLC now owns 2,655 shares of the aerospace company’s stock worth $235,000 after buying an additional 125 shares during the period. Pflug Koory LLC increased its position in shares of Textron by 0.9% during the fourth quarter. Pflug Koory LLC now owns 13,778 shares of the aerospace company’s stock worth $1,054,000 after buying an additional 125 shares during the period. Patriot Financial Group Insurance Agency LLC increased its position in shares of Textron by 5.8% during the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 2,977 shares of the aerospace company’s stock worth $228,000 after buying an additional 163 shares during the period. Finally, Creative Planning increased its position in shares of Textron by 0.4% during the third quarter. Creative Planning now owns 37,304 shares of the aerospace company’s stock worth $3,304,000 after buying an additional 165 shares during the period. Institutional investors own 86.03% of the company’s stock.

Textron Stock Performance

Shares of Textron stock opened at $72.81 on Thursday. The firm has a market cap of $13.51 billion, a P/E ratio of 16.89, a P/E/G ratio of 1.23 and a beta of 1.27. The company has a current ratio of 1.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.40. Textron Inc. has a 12 month low of $72.62 and a 12 month high of $97.33. The stock’s fifty day moving average price is $77.54 and its 200-day moving average price is $83.50.

Textron (NYSE:TXT) last issued its quarterly earnings results 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 return on equity of 14.92% and a net margin of 6.01%. The business had revenue of $3.61 billion for the quarter, compared to analyst estimates of $3.78 billion. During the same quarter in the previous year, the firm earned $1.60 earnings per share. The company’s revenue was down 7.2% on a year-over-year basis. On average, equities research analysts expect that Textron Inc. will post 6.1 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

TXT has been the subject of several recent analyst reports. Vertical Research upgraded shares of Textron from a “hold” rating to a “buy” rating and set a $91.00 price objective for the company in a research report on Monday, January 6th. Robert W. Baird cut 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. Susquehanna cut their target price on shares of Textron from $100.00 to $90.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. Barclays cut their target price on shares of Textron from $104.00 to $95.00 and set an “overweight” rating on the stock in a research note on Monday, December 23rd. Finally, UBS Group cut their target price on shares of Textron from $87.00 to $79.00 and set a “sell” rating on the stock in a research note on Friday, October 25th. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Textron currently has an average rating of “Moderate Buy” and a consensus price target of $93.45.

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.