Textron Inc. (NYSE:TXT) Shares Sold by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky decreased its position in Textron Inc. (NYSE:TXT - Free Report) by 52.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 155,722 shares of the aerospace company's stock after selling 172,543 shares during the quarter. Teachers Retirement System of The State of Kentucky owned about 0.09% of Textron worth $11,250,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of TXT. Syon Capital LLC lifted its holdings in Textron by 4.5% in the 4th quarter. Syon Capital LLC now owns 3,538 shares of the aerospace company's stock valued at $271,000 after acquiring an additional 153 shares during the last quarter. Motley Fool Asset Management LLC raised its holdings in shares of Textron by 6.3% in the 4th 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 in the last quarter. Exchange Traded Concepts LLC lifted its stake in Textron by 7.4% during the first quarter. Exchange Traded Concepts LLC now owns 2,869 shares of the aerospace company's stock valued at $207,000 after purchasing an additional 197 shares during the last quarter. Transce3nd LLC boosted its holdings in Textron by 14.0% during the first quarter. Transce3nd LLC now owns 1,617 shares of the aerospace company's stock worth $116,000 after buying an additional 199 shares in the last quarter. Finally, Parallel Advisors LLC grew its position in Textron by 22.9% in the first 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. Institutional investors and hedge funds own 86.03% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. UBS Group raised their price objective on Textron from $62.00 to $63.00 and gave the stock a "sell" rating in a research note on Monday, April 28th. Wall Street Zen upgraded Textron from a "buy" rating to a "strong-buy" rating in a report on Sunday, July 13th. The Goldman Sachs Group reiterated a "neutral" rating and issued a $85.00 target price (down from $95.00) on shares of Textron in a report on Tuesday, July 1st. Morgan Stanley upped their price target on shares of Textron from $71.00 to $86.00 and gave the company an "equal weight" rating in a research report on Thursday. Finally, Citigroup lowered their price objective on shares of Textron from $111.00 to $107.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $89.33.

Textron Trading Down 0.5%

Textron stock opened at $84.95 on Monday. Textron Inc. has a 12 month low of $57.70 and a 12 month high of $93.98. The company has a quick ratio of 0.83, a current ratio of 1.80 and a debt-to-equity ratio of 0.46. The stock has a market cap of $15.34 billion, a P/E ratio of 19.26, a P/E/G ratio of 1.38 and a beta of 1.17. The company's fifty day simple moving average is $78.24 and its 200-day simple moving average is $74.41.

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

Textron Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th were given a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.09%. The ex-dividend date of this dividend 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.

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