Pictet Asset Management LTD Has Decreased Textron (TXT) Stake as Market Valuation Rose; Bank Amer (BAC) Valuation Declined While Causeway Capital Management Lowered by $5.09 Million Its Holding

May 19, 2018 - By Adrian Erickson

Textron Inc. (NYSE:TXT) Logo

Causeway Capital Management Llc decreased its stake in Bank Amer Corp (BAC) by 3.06% based on its latest 2017Q4 regulatory filing with the SEC. Causeway Capital Management Llc sold 175,428 shares as the company’s stock declined 1.20% with the market. The institutional investor held 5.56 million shares of the major banks company at the end of 2017Q4, valued at $164.10 million, down from 5.73 million at the end of the previous reported quarter. Causeway Capital Management Llc who had been investing in Bank Amer Corp for a number of months, seems to be less bullish one the $306.82B market cap company. The stock decreased 1.79% or $0.55 during the last trading session, reaching $30.26. About 58.64M shares traded. Bank of America Corporation (NYSE:BAC) has risen 28.18% since May 19, 2017 and is uptrending. It has outperformed by 16.63% the S&P500.

Pictet Asset Management Ltd decreased its stake in Textron Inc (TXT) by 29.67% based on its latest 2017Q4 regulatory filing with the SEC. Pictet Asset Management Ltd sold 35,600 shares as the company’s stock rose 1.22% while stock markets declined. The institutional investor held 84,388 shares of the aerospace company at the end of 2017Q4, valued at $4.78M, down from 119,988 at the end of the previous reported quarter. Pictet Asset Management Ltd who had been investing in Textron Inc for a number of months, seems to be less bullish one the $16.98B market cap company. The stock increased 0.12% or $0.08 during the last trading session, reaching $66.32. About 1.01 million shares traded. Textron Inc. (NYSE:TXT) has risen 23.92% since May 19, 2017 and is uptrending. It has outperformed by 12.37% the S&P500.

Among 33 analysts covering Bank of America (NYSE:BAC), 22 have Buy rating, 0 Sell and 11 Hold. Therefore 67% are positive. Bank of America had 114 analyst reports since July 21, 2015 according to SRatingsIntel. As per Sunday, July 23, the company rating was maintained by Renaissance Macro Securities LLC. The stock of Bank of America Corporation (NYSE:BAC) has “Buy” rating given on Wednesday, June 14 by RBC Capital Markets. The stock has “Buy” rating by Vetr on Tuesday, August 11. Credit Suisse maintained the shares of BAC in report on Thursday, June 1 with “Buy” rating. Berenberg downgraded the shares of BAC in report on Monday, April 24 to “Hold” rating. On Tuesday, January 2 the stock rating was maintained by Robert W. Baird with “Hold”. The firm has “Hold” rating by Macquarie Research given on Tuesday, September 1. BMO Capital Markets maintained Bank of America Corporation (NYSE:BAC) on Friday, October 6 with “Hold” rating. The stock has “Buy” rating by Jefferies on Monday, October 10. The company was maintained on Thursday, August 10 by Wells Fargo.

Causeway Capital Management Llc, which manages about $27.14 billion and $9.43B US Long portfolio, upped its stake in Infosys Ltd (NYSE:INFY) by 54,300 shares to 242,015 shares, valued at $3.93 million in 2017Q4, according to the filing. It also increased its holding in Glaxosmithkline Plc (NYSE:GSK) by 79,253 shares in the quarter, for a total of 630,163 shares, and has risen its stake in Micro Focus International Pl.

Investors sentiment increased to 1.19 in 2017 Q4. Its up 0.15, from 1.04 in 2017Q3. It is positive, as 66 investors sold BAC shares while 561 reduced holdings. 162 funds opened positions while 585 raised stakes. 6.85 billion shares or 0.98% less from 6.91 billion shares in 2017Q3 were reported. Moreover, Fin Pro Inc has 0.04% invested in Bank of America Corporation (NYSE:BAC). Retirement Systems Of Alabama owns 8.01 million shares or 1.14% of their US portfolio. Mycio Wealth Lc accumulated 28,252 shares. Factory Mutual Ins owns 4.01M shares. Nebraska-based Cwm Limited has invested 0.12% in Bank of America Corporation (NYSE:BAC). Carlson Lp invested in 0.2% or 400,802 shares. Westover Advsr holds 31,033 shares. Martin Inv Mngmt has invested 3.1% in Bank of America Corporation (NYSE:BAC). Stoneridge Prtn Ltd accumulated 501,921 shares. Coe Cap Mgmt holds 0.24% or 7,584 shares in its portfolio. Northern Tru Corporation holds 108.94M shares or 0.81% of its portfolio. The New Jersey-based Fcg Advisors Limited has invested 0.2% in Bank of America Corporation (NYSE:BAC). Gamble Jones Investment Counsel owns 0.07% invested in Bank of America Corporation (NYSE:BAC) for 26,014 shares. Contravisory Mngmt holds 0.02% or 1,554 shares in its portfolio. Locust Wood Advisers Lc holds 566,999 shares or 1.55% of its portfolio.

More notable recent Bank of America Corporation (NYSE:BAC) news were published by: Seekingalpha.com which released: “Bank of America affirms gun pledge” on May 11, 2018, also Investorplace.com with their article: “5 Top Stock Trades for Friday Morning” published on May 10, 2018, Investorplace.com published: “Friday’s Vital Data: Micron Technology, Inc. (MU), Tesla Inc (TSLA) and Bank of America Corp (BAC)” on May 18, 2018. More interesting news about Bank of America Corporation (NYSE:BAC) were released by: Bizjournals.com and their article: “Square, Facebook, other Silicon Valley executives are popular choice for nation’s boardrooms” published on May 18, 2018 as well as Bizjournals.com‘s news article titled: “These are the banks duking it out for customers in Tampa” with publication date: May 18, 2018.

Analysts await Bank of America Corporation (NYSE:BAC) to report earnings on July, 17. They expect $0.64 earnings per share, up 39.13% or $0.18 from last year’s $0.46 per share. BAC’s profit will be $6.49 billion for 11.82 P/E if the $0.64 EPS becomes a reality. After $0.62 actual earnings per share reported by Bank of America Corporation for the previous quarter, Wall Street now forecasts 3.23% EPS growth.

Analysts await Textron Inc. (NYSE:TXT) to report earnings on July, 18. They expect $0.70 EPS, up 16.67% or $0.10 from last year’s $0.6 per share. TXT’s profit will be $179.22 million for 23.69 P/E if the $0.70 EPS becomes a reality. After $0.72 actual EPS reported by Textron Inc. for the previous quarter, Wall Street now forecasts -2.78% negative EPS growth.

Investors sentiment increased to 1.2 in Q4 2017. Its up 0.05, from 1.15 in 2017Q3. It is positive, as 25 investors sold TXT shares while 117 reduced holdings. 41 funds opened positions while 129 raised stakes. 215.83 million shares or 0.61% more from 214.52 million shares in 2017Q3 were reported. Cornerstone Capital Management Limited Liability Corp holds 0.16% of its portfolio in Textron Inc. (NYSE:TXT) for 405,313 shares. Tower Lc (Trc) has 4,720 shares. Suntrust Banks invested in 0.01% or 39,311 shares. Renaissance Tech Ltd Company reported 1.24M shares stake. Profund Llc has invested 0.02% of its portfolio in Textron Inc. (NYSE:TXT). Chevy Chase Tru Hldgs invested in 0.06% or 228,196 shares. Conning Inc invested in 0.01% or 5,597 shares. Goldman Sachs Group reported 4.55M shares or 0.06% of all its holdings. First Advisors Ltd Partnership stated it has 0.07% of its portfolio in Textron Inc. (NYSE:TXT). California-based Parallax Volatility Advisers Limited Partnership has invested 0% in Textron Inc. (NYSE:TXT). Gam Ag owns 27,569 shares or 0.05% of their US portfolio. Stratos Wealth Prns owns 19,809 shares. Channing Cap Limited Liability Corporation, a Illinois-based fund reported 277,152 shares. Vanguard Grp invested in 24.66 million shares. 12,083 are held by First Allied Advisory Incorporated.

More recent Textron Inc. (NYSE:TXT) news were published by: Seekingalpha.com which released: “Buy On Weakness – Textron” on April 22, 2018. Also Bizjournals.com published the news titled: “Safran says it’s optimizing engine for Textron Aviation’s suspended Hemisphere program” on May 01, 2018. Streetinsider.com‘s news article titled: “Stephens Remains Sidelined on Textron (TXT) Following 1Q Survey” with publication date: May 14, 2018 was also an interesting one.

Pictet Asset Management Ltd, which manages about $38.87B US Long portfolio, upped its stake in Waste Mgmt Inc Del (NYSE:WM) by 78,050 shares to 2.02 million shares, valued at $174.41 million in 2017Q4, according to the filing. It also increased its holding in Caterpillar Inc Del (NYSE:CAT) by 22,383 shares in the quarter, for a total of 338,796 shares, and has risen its stake in Qualcomm Inc (NASDAQ:QCOM).

Among 14 analysts covering Textron (NYSE:TXT), 11 have Buy rating, 0 Sell and 3 Hold. Therefore 79% are positive. Textron had 44 analyst reports since September 2, 2015 according to SRatingsIntel. Deutsche Bank maintained the stock with “Hold” rating in Monday, December 5 report. The stock has “Underweight” rating by Morgan Stanley on Thursday, June 23. Robert W. Baird maintained the stock with “Buy” rating in Friday, November 10 report. The firm has “Buy” rating by Jefferies given on Sunday, February 4. Morgan Stanley maintained the stock with “Underweight” rating in Thursday, August 17 report. The stock of Textron Inc. (NYSE:TXT) has “Buy” rating given on Monday, July 17 by Cowen & Co. The rating was maintained by Barclays Capital with “Overweight” on Thursday, April 19. The stock has “Outperform” rating by Cowen & Co on Wednesday, September 9. The stock of Textron Inc. (NYSE:TXT) has “Outperform” rating given on Thursday, January 28 by RBC Capital Markets. The company was maintained on Tuesday, April 10 by Citigroup.

Since April 27, 2018, it had 0 insider buys, and 2 sales for $17.66 million activity. Connor Frank T sold 80,000 shares worth $5.04M.

Bank of America Corporation (NYSE:BAC) Institutional Positions Chart

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