New York State Common Retirement Fund Has $38.75 Million Stock Position in Textron Inc. (NYSE:TXT)

New York State Common Retirement Fund grew its holdings in shares of Textron Inc. (NYSE:TXT - Free Report) by 22.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 536,281 shares of the aerospace company's stock after purchasing an additional 98,686 shares during the quarter. New York State Common Retirement Fund owned approximately 0.30% of Textron worth $38,746,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Syon Capital LLC lifted its stake in shares of Textron by 4.5% during the 4th quarter. Syon Capital LLC now owns 3,538 shares of the aerospace company's stock worth $271,000 after purchasing an additional 153 shares during the period. Motley Fool Asset Management LLC increased its holdings in shares of Textron by 6.3% during the 4th quarter. Motley Fool Asset Management LLC now owns 2,732 shares of the aerospace company's stock worth $209,000 after buying an additional 163 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in shares of Textron by 10.3% during the 4th quarter. Farther Finance Advisors LLC now owns 1,881 shares of the aerospace company's stock worth $144,000 after buying an additional 175 shares during the last quarter. Exchange Traded Concepts LLC increased its holdings in shares of Textron by 7.4% during the 1st quarter. Exchange Traded Concepts LLC now owns 2,869 shares of the aerospace company's stock worth $207,000 after buying an additional 197 shares during the last quarter. Finally, Parallel Advisors LLC increased its holdings in shares of Textron by 22.9% during the 1st quarter. Parallel Advisors LLC now owns 1,115 shares of the aerospace company's stock worth $81,000 after buying an additional 208 shares during the last quarter. Hedge funds and other institutional investors own 86.03% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Morgan Stanley raised their target price on Textron from $71.00 to $86.00 and gave the company an "equal weight" rating in a research note on Thursday. Jefferies Financial Group restated a "buy" rating and set a $95.00 target price (up from $85.00) on shares of Textron in a research note on Thursday, June 12th. Wall Street Zen upgraded Textron from a "buy" rating to a "strong-buy" rating in a research note on Sunday, July 13th. The Goldman Sachs Group restated a "neutral" rating and set a $85.00 target price (down from $95.00) on shares of Textron in a research note on Tuesday, July 1st. Finally, UBS Group increased their price target on shares of Textron from $62.00 to $63.00 and gave the stock a "sell" rating in a research report on Monday, April 28th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Textron presently has a consensus rating of "Moderate Buy" and an average target price of $89.33.

Textron Stock Performance

Shares of NYSE:TXT traded down $0.84 during trading hours on Friday, hitting $84.53. The stock had a trading volume of 682,400 shares, compared to its average volume of 1,276,874. The stock's fifty day simple moving average is $77.99 and its 200 day simple moving average is $74.38. Textron Inc. has a 1-year low of $57.70 and a 1-year high of $94.57. The firm has a market capitalization of $15.26 billion, a price-to-earnings ratio of 19.19, a PEG ratio of 1.37 and a beta of 1.17. 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 posted its quarterly earnings data on Thursday, April 24th. The aerospace company reported $1.28 EPS for the quarter, beating analysts' consensus estimates of $1.17 by $0.11. Textron had a net margin of 5.98% and a return on equity of 14.77%. The business had revenue of $3.31 billion for the quarter, compared to analyst estimates of $3.26 billion. During the same quarter last year, the business earned $1.20 earnings per share. The business's revenue for the quarter was up 5.5% on a year-over-year basis. Sell-side analysts anticipate that Textron Inc. will post 6.12 earnings per share for the current fiscal year.

Textron Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Friday, June 13th were paid a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.09%. The ex-dividend date was Friday, June 13th. Textron's dividend payout ratio is 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.