California State Teachers Retirement System Sells 55,441 Shares of Textron Inc. (NYSE:TXT)

California State Teachers Retirement System reduced its stake in Textron Inc. (NYSE:TXT - Free Report) by 16.8% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 274,508 shares of the aerospace company's stock after selling 55,441 shares during the quarter. California State Teachers Retirement System owned 0.15% of Textron worth $20,997,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. V Square Quantitative Management LLC raised its stake in Textron by 5.7% in the fourth quarter. V Square Quantitative Management LLC now owns 2,611 shares of the aerospace company's stock valued at $200,000 after purchasing an additional 141 shares in the last quarter. Syon Capital LLC grew its stake in shares of Textron by 4.5% in the 4th quarter. Syon Capital LLC now owns 3,538 shares of the aerospace company's stock worth $271,000 after buying an additional 153 shares during the last quarter. Patriot Financial Group Insurance Agency LLC increased its position in shares of Textron by 5.8% during the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 2,977 shares of the aerospace company's stock valued at $228,000 after acquiring an additional 163 shares in the last quarter. Motley Fool Asset Management LLC boosted its holdings in Textron by 6.3% in the fourth quarter. Motley Fool Asset Management LLC now owns 2,732 shares of the aerospace company's stock worth $209,000 after purchasing an additional 163 shares during the last quarter. Finally, Foundations Investment Advisors LLC boosted its holdings in shares of Textron by 4.1% in the fourth quarter. Foundations Investment Advisors LLC now owns 4,272 shares of the aerospace company's stock worth $327,000 after buying an additional 169 shares during the last quarter. 86.03% of the stock is owned by hedge funds and other institutional investors.

Textron Stock Up 1.1%

Textron stock traded up $0.84 during midday trading on Tuesday, hitting $74.37. The stock had a trading volume of 261,341 shares, compared to its average volume of 1,216,593. The stock has a market cap of $13.43 billion, a P/E ratio of 17.26, a P/E/G ratio of 1.18 and a beta of 1.20. The business has a fifty day moving average price of $70.07 and a 200 day moving average price of $74.68. Textron Inc. has a 12 month low of $57.70 and a 12 month high of $94.57. The company has a current ratio of 1.76, a quick ratio of 0.84 and a debt-to-equity ratio of 0.45.

Textron (NYSE:TXT - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The aerospace company reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.17 by $0.11. Textron had a net margin of 6.01% and a return on equity of 14.92%. The company had revenue of $3.31 billion during the quarter, compared to analyst estimates of $3.26 billion. During the same quarter last year, the firm posted $1.20 EPS. The business's revenue for the quarter was up 5.5% on a year-over-year basis. Research analysts predict that Textron Inc. will post 6.12 EPS for the current year.

Textron Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be issued a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.11%. The ex-dividend date is Friday, June 13th. Textron's dividend payout ratio (DPR) is 1.81%.

Wall Street Analyst Weigh In

TXT has been the topic of several research analyst reports. Citigroup lowered their target price on shares of Textron from $111.00 to $107.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Morgan Stanley dropped their target price on shares of Textron from $82.00 to $71.00 and set an "equal weight" rating on the stock in a research report on Friday, April 11th. UBS Group increased their price target on Textron from $62.00 to $63.00 and gave the stock a "sell" rating in a research report on Monday, April 28th. Finally, TD Cowen raised shares of Textron to a "hold" rating in a research note on Monday, February 24th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $87.70.

Textron Company Profile

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.