Textron Inc. (NYSE:TXT) Stock Position Decreased by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio reduced its position in Textron Inc. (NYSE:TXT - Free Report) by 6.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 68,525 shares of the aerospace company's stock after selling 4,699 shares during the quarter. Public Employees Retirement System of Ohio's holdings in Textron were worth $5,241,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in TXT. SBI Securities Co. Ltd. purchased a new position in shares of Textron in the 4th quarter worth about $31,000. Optiver Holding B.V. purchased a new position in shares of Textron in the 4th quarter worth about $56,000. Golden State Wealth Management LLC purchased a new position in Textron in the fourth quarter valued at approximately $63,000. McClarren Financial Advisors Inc. purchased a new position in Textron in the fourth quarter valued at approximately $68,000. Finally, Geneos Wealth Management Inc. raised its holdings in Textron by 33.0% in the fourth quarter. Geneos Wealth Management Inc. now owns 964 shares of the aerospace company's stock valued at $74,000 after buying an additional 239 shares during the period. 86.03% of the stock is owned by hedge funds and other institutional investors.

Textron Stock Down 0.7%

TXT stock traded down $0.54 during midday trading on Monday, hitting $73.49. 1,059,473 shares of the company's stock were exchanged, compared to its average volume of 1,220,301. 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 Inc. has a 12-month low of $57.70 and a 12-month high of $94.57. The firm has a 50 day moving average price of $70.07 and a 200-day moving average price of $74.68. The stock has a market capitalization of $13.27 billion, a price-to-earnings ratio of 17.05, a price-to-earnings-growth ratio of 1.18 and a beta of 1.20.

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

Textron Announces Dividend

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

Analysts Set New Price Targets

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