Illinois Municipal Retirement Fund Buys 14,961 Shares of Textron Inc. (NYSE:TXT)

Illinois Municipal Retirement Fund increased its stake in Textron Inc. (NYSE:TXT - Free Report) by 17.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 102,953 shares of the aerospace company's stock after purchasing an additional 14,961 shares during the quarter. Illinois Municipal Retirement Fund owned approximately 0.06% of Textron worth $7,438,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Invesco Ltd. raised its holdings in shares of Textron by 17.8% in the 4th quarter. Invesco Ltd. now owns 7,733,335 shares of the aerospace company's stock worth $591,523,000 after purchasing an additional 1,167,105 shares during the period. Boston Partners raised its holdings in Textron by 4.7% during the 4th quarter. Boston Partners now owns 7,483,692 shares of the aerospace company's stock valued at $572,465,000 after acquiring an additional 333,127 shares during the period. Geode Capital Management LLC raised its holdings in Textron by 3.7% during the 4th quarter. Geode Capital Management LLC now owns 4,595,861 shares of the aerospace company's stock valued at $350,619,000 after acquiring an additional 164,964 shares during the period. Brandes Investment Partners LP raised its holdings in Textron by 19.4% during the 4th quarter. Brandes Investment Partners LP now owns 1,859,703 shares of the aerospace company's stock valued at $142,249,000 after acquiring an additional 302,712 shares during the period. Finally, Northern Trust Corp raised its holdings in Textron by 9.4% during the 4th quarter. Northern Trust Corp now owns 1,803,778 shares of the aerospace company's stock valued at $137,971,000 after acquiring an additional 155,384 shares during the period. Institutional investors own 86.03% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on TXT. Morgan Stanley lowered their target price on shares of Textron from $82.00 to $71.00 and set an "equal weight" rating on the stock in a report on Friday, April 11th. Citigroup decreased their price target 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. Jefferies Financial Group reaffirmed a "buy" rating and issued a $95.00 price target (up previously from $85.00) on shares of Textron in a report on Thursday, June 12th. Finally, UBS Group upped their price target on shares of Textron from $62.00 to $63.00 and gave the stock a "sell" rating in a report on Monday, April 28th. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $88.36.

Textron Stock Up 0.1%

Shares of NYSE:TXT opened at $80.34 on Friday. Textron Inc. has a 52-week low of $57.70 and a 52-week high of $94.57. The firm has a fifty day moving average of $74.05 and a 200 day moving average of $73.86. The firm has a market capitalization of $14.50 billion, a PE ratio of 18.22, a price-to-earnings-growth ratio of 1.31 and a beta of 1.16. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.83 and a current ratio of 1.80.

Textron (NYSE:TXT - Get Free Report) last announced its earnings results on Thursday, April 24th. The aerospace company reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.11. Textron had a net margin of 5.98% and a return on equity of 14.77%. The company had revenue of $3.31 billion during the quarter, compared to analyst estimates of $3.26 billion. During the same period in the previous year, the business earned $1.20 earnings per share. The firm's quarterly revenue was up 5.5% compared to the same quarter last year. As a group, research analysts anticipate that Textron Inc. will post 6.12 EPS for the current fiscal year.

Textron Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be given a $0.02 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.08 annualized dividend and a yield of 0.10%. Textron's dividend payout ratio (DPR) is presently 1.81%.

Textron 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.

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