Wesbanco Bank Inc. Acquires 384 Shares of Textron Inc. (NYSE:TXT)

Wesbanco Bank Inc. lifted its holdings in shares of Textron Inc. (NYSE:TXT) by 0.6% in the fourth quarter, Holdings Channel.com reports. The fund owned 61,453 shares of the aerospace company’s stock after purchasing an additional 384 shares during the period. Wesbanco Bank Inc.’s holdings in Textron were worth $4,701,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. SG Americas Securities LLC raised its holdings in shares of Textron by 85.1% during the fourth quarter. SG Americas Securities LLC now owns 5,735 shares of the aerospace company’s stock valued at $439,000 after acquiring an additional 2,636 shares in the last quarter. Pure Financial Advisors LLC bought a new position in Textron in the fourth quarter worth $211,000. Uncommon Cents Investing LLC raised its holdings in Textron by 2.2% in the fourth quarter. Uncommon Cents Investing LLC now owns 7,985 shares of the aerospace company’s stock worth $611,000 after purchasing an additional 175 shares in the last quarter. HB Wealth Management LLC raised its holdings in Textron by 11.6% in the fourth quarter. HB Wealth Management LLC now owns 4,773 shares of the aerospace company’s stock worth $365,000 after purchasing an additional 496 shares in the last quarter. Finally, Merit Financial Group LLC raised its holdings in Textron by 5.9% in the fourth quarter. Merit Financial Group LLC now owns 4,784 shares of the aerospace company’s stock worth $366,000 after purchasing an additional 265 shares in the last quarter. Institutional investors own 86.03% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on TXT. Robert W. Baird decreased their price objective on Textron from $109.00 to $100.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Susquehanna decreased their price objective on Textron from $100.00 to $90.00 and set a “positive” rating for the company in a report on Wednesday, January 8th. JPMorgan Chase & Co. decreased their price objective on Textron from $90.00 to $88.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Citigroup reduced their price target on Textron from $118.00 to $111.00 and set a “buy” rating for the company in a report on Tuesday. Finally, UBS Group reduced their price target on Textron from $87.00 to $79.00 and set a “sell” rating for the company in a report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $97.64.

Textron Trading Down 3.5 %

Textron stock opened at $78.40 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 one year low of $74.89 and a one year high of $97.33. The stock has a market capitalization of $14.54 billion, a PE ratio of 17.23, a price-to-earnings-growth ratio of 1.24 and a beta of 1.27. The business’s fifty day moving average is $80.19 and its 200 day moving average is $85.01.

Textron (NYSE:TXT) last released its quarterly earnings data on Wednesday, January 22nd. The aerospace company reported $1.34 EPS for the quarter, beating the consensus estimate of $1.27 by $0.07. Textron had a return on equity of 16.02% and a net margin of 6.30%. The company had revenue of $3.61 billion for the quarter, compared to analysts’ expectations of $3,778,060 billion. During the same period last year, the firm posted $1.60 earnings per share. Textron’s revenue was down 7.2% compared to the same quarter last year. On average, sell-side analysts predict that Textron Inc. will post 5.42 EPS for the current year.

About Textron

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.