Teacher Retirement System of Texas Acquires Shares of 120,396 Textron Inc. (TXT)
Teacher Retirement System of Texas acquired a new position in shares of Textron Inc. (NYSE:TXT) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 120,396 shares of the aerospace company’s stock, valued at approximately $6,487,000.
Other institutional investors also recently made changes to their positions in the company. Parkside Financial Bank & Trust lifted its holdings in Textron by 0.8% during the second quarter. Parkside Financial Bank & Trust now owns 3,226 shares of the aerospace company’s stock worth $152,000 after acquiring an additional 26 shares in the last quarter. Intrust Bank NA lifted its holdings in Textron by 0.6% during the second quarter. Intrust Bank NA now owns 5,892 shares of the aerospace company’s stock worth $277,000 after acquiring an additional 33 shares in the last quarter. Veritable L.P. lifted its holdings in Textron by 0.3% during the second quarter. Veritable L.P. now owns 12,868 shares of the aerospace company’s stock worth $606,000 after acquiring an additional 44 shares in the last quarter. Canandaigua National Bank & Trust Co. lifted its holdings in Textron by 1.6% during the second quarter. Canandaigua National Bank & Trust Co. now owns 4,815 shares of the aerospace company’s stock worth $227,000 after acquiring an additional 75 shares in the last quarter. Finally, CIBC Asset Management Inc lifted its holdings in Textron by 0.4% during the second quarter. CIBC Asset Management Inc now owns 25,070 shares of the aerospace company’s stock worth $1,181,000 after acquiring an additional 98 shares in the last quarter. 81.49% of the stock is owned by institutional investors and hedge funds.
TXT has been the topic of several recent analyst reports. Zacks Investment Research lowered Textron from a “hold” rating to a “sell” rating in a report on Tuesday, November 7th. ValuEngine upgraded Textron from a “hold” rating to a “buy” rating in a report on Friday, September 8th. Jefferies Group LLC reiterated a “buy” rating and set a $60.00 target price on shares of Textron in a report on Tuesday, September 26th. Wells Fargo & Company lifted their target price on Textron from $54.00 to $59.00 and gave the stock an “outperform” rating in a report on Friday, October 20th. Finally, Citigroup Inc. lifted their target price on Textron from $54.00 to $61.00 and gave the stock a “buy” rating in a report on Friday, October 20th. Four analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the stock. Textron has a consensus rating of “Hold” and a consensus target price of $56.92.
TRADEMARK VIOLATION WARNING: This report was first published by The Cerbat Gem and is owned by of The Cerbat Gem. If you are reading this report on another website, it was illegally stolen and reposted in violation of United States and international trademark and copyright laws. The legal version of this report can be read at https://www.thecerbatgem.com/2017/11/19/teacher-retirement-system-of-texas-acquires-shares-of-120396-textron-inc-txt.html.
Shares of Textron Inc. (NYSE:TXT) opened at $52.97 on Friday. The company has a market capitalization of $13,953.36, a PE ratio of 21.10, a PEG ratio of 2.43 and a beta of 1.58. Textron Inc. has a twelve month low of $43.66 and a twelve month high of $55.80. The company has a quick ratio of 0.96, a current ratio of 2.08 and a debt-to-equity ratio of 0.67.
Textron (NYSE:TXT) last issued its quarterly earnings results on Thursday, October 19th. The aerospace company reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.03. The company had revenue of $3.48 billion for the quarter, compared to analyst estimates of $3.55 billion. Textron had a return on equity of 12.02% and a net margin of 4.48%. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.61 earnings per share. sell-side analysts anticipate that Textron Inc. will post 2.47 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, January 1st. Investors of record on Friday, December 15th will be issued a dividend of $0.02 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $0.08 annualized dividend and a yield of 0.15%. Textron’s payout ratio is presently 3.45%.
Textron Inc is a multi-industry company engaged in aircraft, defense, industrial and finance businesses to provide customers with products and services across the world. The Company operates through five segments: Textron Aviation, Bell, Textron Systems, Industrial and Finance. The Textron Aviation segment is engaged in general aviation.
Want to see what other hedge funds are holding TXT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Textron Inc. (NYSE:TXT).
Receive News & Stock Ratings for Textron Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Textron Inc. and related stocks with our FREE daily email newsletter.