New York State Common Retirement Fund Cuts Position in Textron Inc. (NYSE:TXT)

New York State Common Retirement Fund trimmed its holdings in shares of Textron Inc. (NYSE:TXT) by 2.7% during the 4th quarter, Holdings Channel reports. The institutional investor owned 539,535 shares of the aerospace company’s stock after selling 14,966 shares during the quarter. New York State Common Retirement Fund’s holdings in Textron were worth $43,389,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Lindbrook Capital LLC grew its holdings in shares of Textron by 18.6% in the fourth quarter. Lindbrook Capital LLC now owns 777 shares of the aerospace company’s stock worth $62,000 after purchasing an additional 122 shares during the last quarter. Allworth Financial LP boosted its position in Textron by 12.0% during the 4th quarter. Allworth Financial LP now owns 1,283 shares of the aerospace company’s stock valued at $103,000 after acquiring an additional 137 shares in the last quarter. Quent Capital LLC boosted its position in Textron by 29.2% during the fourth quarter. Quent Capital LLC now owns 633 shares of the aerospace company’s stock valued at $51,000 after purchasing an additional 143 shares in the last quarter. Financial Advocates Investment Management grew its position in shares of Textron by 3.3% in the 3rd quarter. Financial Advocates Investment Management now owns 5,208 shares of the aerospace company’s stock worth $407,000 after buying an additional 168 shares during the last quarter. Finally, Greenleaf Trust increased its position in shares of Textron by 4.0% during the third quarter. Greenleaf Trust now owns 4,401 shares of the aerospace company’s stock worth $344,000 after purchasing an additional 171 shares in the last quarter. 86.03% of the stock is owned by hedge funds and other institutional investors.

Textron Trading Down 1.3 %

Shares of TXT stock opened at $94.00 on Thursday. Textron Inc. has a fifty-two week low of $61.27 and a fifty-two week high of $97.33. The company has a 50 day moving average price of $92.11 and a 200 day moving average price of $83.81. The stock has a market capitalization of $18.08 billion, a P/E ratio of 20.57, a price-to-earnings-growth ratio of 1.50 and a beta of 1.30. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.03 and a current ratio of 1.92.

Textron (NYSE:TXT) last announced its quarterly earnings data on Wednesday, January 24th. The aerospace company reported $1.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.53 by $0.07. Textron had a return on equity of 16.05% and a net margin of 6.73%. The business had revenue of $3.89 billion for the quarter, compared to analysts’ expectations of $3.97 billion. During the same period last year, the firm earned $1.07 earnings per share. The company’s revenue for the quarter was up 7.0% compared to the same quarter last year. Equities research analysts predict that Textron Inc. will post 6.27 EPS for the current fiscal year.

Textron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be paid a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.09%. Textron’s payout ratio is presently 1.75%.

Wall Street Analysts Forecast Growth

Several research firms have commented on TXT. StockNews.com raised shares of Textron from a “buy” rating to a “strong-buy” rating in a report on Thursday, January 25th. UBS Group increased their price target on Textron from $77.00 to $81.00 and gave the company a “sell” rating in a report on Friday, January 26th. Citigroup raised their price objective on shares of Textron from $104.00 to $111.00 and gave the stock a “buy” rating in a research report on Thursday, April 4th. The Goldman Sachs Group lifted their price target on shares of Textron from $103.00 to $120.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Finally, Bank of America upgraded Textron from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $85.00 to $105.00 in a research report on Friday, March 8th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $93.63.

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.