First Hawaiian Bank Boosts Stock Position in Textron Inc. (NYSE:TXT)

First Hawaiian Bank raised its holdings in Textron Inc. (NYSE:TXT) by 4.0% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 14,028 shares of the aerospace company’s stock after acquiring an additional 535 shares during the quarter. First Hawaiian Bank’s holdings in Textron were worth $1,204,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Truvestments Capital LLC acquired a new stake in Textron during the 1st quarter worth about $48,000. Morton Brown Family Wealth LLC purchased a new stake in shares of Textron in the fourth quarter valued at approximately $40,000. Jones Financial Companies Lllp boosted its position in shares of Textron by 200.0% during the 4th quarter. Jones Financial Companies Lllp now owns 507 shares of the aerospace company’s stock valued at $41,000 after acquiring an additional 338 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its position in shares of Textron by 677.1% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 544 shares of the aerospace company’s stock valued at $44,000 after buying an additional 474 shares during the period. Finally, Spire Wealth Management increased its stake in Textron by 90.3% during the fourth quarter. Spire Wealth Management now owns 588 shares of the aerospace company’s stock worth $46,000 after acquiring an additional 279 shares during the last quarter. 86.03% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Kathleen M. Bader sold 11,870 shares of Textron stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $87.91, for a total transaction of $1,043,491.70. Following the completion of the sale, the director now owns 3,756 shares of the company’s stock, valued at $330,189.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.70% of the company’s stock.

Textron Price Performance

TXT stock traded up $0.96 during trading hours on Tuesday, hitting $85.84. 377,813 shares of the stock traded hands, compared to its average volume of 1,120,083. The company has a market cap of $16.37 billion, a P/E ratio of 18.14, a P/E/G ratio of 1.39 and a beta of 1.25. The stock has a 50-day simple moving average of $87.84 and a 200 day simple moving average of $88.89. The company has a current ratio of 1.79, a quick ratio of 0.66 and a debt-to-equity ratio of 0.47. Textron Inc. has a one year low of $73.78 and a one year high of $97.33.

Textron (NYSE:TXT) last issued its quarterly earnings results on Thursday, July 18th. The aerospace company reported $1.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.48 by $0.06. Textron had a return on equity of 16.41% and a net margin of 6.67%. The firm had revenue of $3.53 billion for the quarter, compared to analyst estimates of $3.56 billion. During the same period in the previous year, the company posted $1.46 earnings per share. The company’s quarterly revenue was up 3.0% compared to the same quarter last year. Equities analysts forecast that Textron Inc. will post 6.26 earnings per share for the current year.

Textron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be issued a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.09%. The ex-dividend date of this dividend is Friday, September 13th. Textron’s payout ratio is 1.71%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on TXT. Citigroup boosted their price objective on Textron from $111.00 to $115.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Susquehanna cut their price target on Textron from $110.00 to $105.00 and set a “positive” rating on the stock in a research report on Friday, April 26th. UBS Group boosted their price target on Textron from $84.00 to $87.00 and gave the company a “sell” rating in a research report on Friday, July 19th. TD Cowen raised their price objective on shares of Textron from $100.00 to $103.00 and gave the company a “buy” rating in a research report on Friday, July 19th. Finally, The Goldman Sachs Group increased their target price on shares of Textron from $103.00 to $120.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $101.63.

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.