Teacher Retirement System of Texas bought a new stake in shares of Textron Inc. (NYSE:TXT - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 27,137 shares of the aerospace company's stock, valued at approximately $1,961,000.
Several other large investors have also recently bought and sold shares of the stock. Invesco Ltd. raised its stake in Textron by 17.8% during the 4th quarter. Invesco Ltd. now owns 7,733,335 shares of the aerospace company's stock valued at $591,523,000 after purchasing an additional 1,167,105 shares during the last quarter. Boston Partners raised its stake 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 purchasing an additional 333,127 shares during the last quarter. Geode Capital Management LLC raised its stake 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 purchasing an additional 164,964 shares during the last quarter. Brandes Investment Partners LP increased its holdings in Textron by 19.4% in 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 buying an additional 302,712 shares during the period. Finally, Northern Trust Corp increased its holdings in Textron by 9.4% in the 4th quarter. Northern Trust Corp now owns 1,803,778 shares of the aerospace company's stock valued at $137,971,000 after buying an additional 155,384 shares during the period. 86.03% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several equities research analysts have issued reports on the stock. Morgan Stanley lowered their price target 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. The Goldman Sachs Group reissued a "neutral" rating and issued a $85.00 price target (down previously from $95.00) on shares of Textron in a report on Tuesday, July 1st. Wall Street Zen lowered shares of Textron from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 5th. UBS Group boosted their price target on shares of Textron from $62.00 to $63.00 and gave the company a "sell" rating in a report on Monday, April 28th. Finally, Citigroup lowered 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. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $88.08.
View Our Latest Analysis on TXT
Textron Price Performance
Shares of TXT traded down $0.21 during trading hours on Friday, hitting $85.02. The stock had a trading volume of 1,167,443 shares, compared to its average volume of 1,275,854. The company's fifty day moving average is $76.86 and its two-hundred day moving average is $74.14. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.80 and a quick ratio of 0.83. Textron Inc. has a 52 week low of $57.70 and a 52 week high of $94.57. The stock has a market capitalization of $15.35 billion, a price-to-earnings ratio of 19.28, a P/E/G ratio of 1.39 and a beta of 1.17.
Textron (NYSE:TXT - Get Free Report) last posted its earnings results on Thursday, April 24th. The aerospace company reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.17 by $0.11. The business had revenue of $3.31 billion for the quarter, compared to analyst estimates of $3.26 billion. Textron had a net margin of 5.98% and a return on equity of 14.77%. The firm's quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.20 EPS. On average, analysts anticipate that Textron Inc. will post 6.12 EPS for the current year.
Textron Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Friday, June 13th were given a dividend of $0.02 per share. The ex-dividend date was Friday, June 13th. This represents a $0.08 annualized dividend and a yield of 0.09%. Textron's dividend payout ratio (DPR) is 1.81%.
About Textron
(
Free Report)
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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