New York State Teachers Retirement System Has $18.37 Million Stake in Textron Inc. (NYSE:TXT)

New York State Teachers Retirement System lessened its position in shares of Textron Inc. (NYSE:TXT - Free Report) by 5.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 228,467 shares of the aerospace company's stock after selling 14,074 shares during the period. New York State Teachers Retirement System owned 0.12% of Textron worth $18,373,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in TXT. State Street Corp grew its position in Textron by 0.5% during the 2nd quarter. State Street Corp now owns 8,933,601 shares of the aerospace company's stock worth $604,357,000 after acquiring an additional 42,749 shares during the last quarter. Metis Global Partners LLC boosted its holdings in Textron by 12.8% in the third quarter. Metis Global Partners LLC now owns 10,189 shares of the aerospace company's stock worth $796,000 after acquiring an additional 1,158 shares in the last quarter. LSV Asset Management lifted its holdings in shares of Textron by 7.6% during the third quarter. LSV Asset Management now owns 3,271,771 shares of the aerospace company's stock valued at $255,656,000 after purchasing an additional 230,560 shares in the last quarter. Deutsche Bank AG increased its position in Textron by 36.9% during the third quarter. Deutsche Bank AG now owns 542,193 shares of the aerospace company's stock valued at $42,367,000 after acquiring an additional 146,055 shares during the last quarter. Finally, AustralianSuper Pty Ltd increased its position in Textron by 13.2% during the fourth quarter. AustralianSuper Pty Ltd now owns 98,773 shares of the aerospace company's stock valued at $7,943,000 after acquiring an additional 11,510 shares during the last quarter. Hedge funds and other institutional investors own 86.03% of the company's stock.

Textron Stock Down 0.7 %

NYSE:TXT traded down $0.67 during trading hours on Tuesday, hitting $96.31. The company's stock had a trading volume of 910,195 shares, compared to its average volume of 1,162,445. The stock has a market capitalization of $18.53 billion, a P/E ratio of 21.07, a price-to-earnings-growth ratio of 1.52 and a beta of 1.30. The stock has a fifty day moving average of $90.48 and a 200-day moving average of $82.59. The company has a current ratio of 1.92, a quick ratio of 1.03 and a debt-to-equity ratio of 0.50. Textron Inc. has a 52-week low of $61.27 and a 52-week high of $97.33.

Textron (NYSE:TXT - Get Free Report) last released its quarterly earnings data on Wednesday, January 24th. The aerospace company reported $1.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.53 by $0.07. Textron had a net margin of 6.73% and a return on equity of 16.05%. The company had revenue of $3.89 billion during the quarter, compared to the consensus estimate of $3.97 billion. During the same quarter in the prior year, the firm posted $1.07 earnings per share. Textron's revenue for the quarter was up 7.0% on a year-over-year basis. On average, equities analysts forecast that Textron Inc. will post 6.27 earnings per share for the current year.

Textron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were given a $0.02 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.08 dividend on an annualized basis and a yield of 0.08%. Textron's payout ratio is currently 1.75%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on TXT shares. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $98.00 price objective on shares of Textron in a research note on Tuesday, January 2nd. Bank of America raised Textron from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $85.00 to $105.00 in a research report on Friday, March 8th. StockNews.com upgraded Textron from a "buy" rating to a "strong-buy" rating in a research note on Thursday, January 25th. UBS Group boosted their price objective on Textron from $77.00 to $81.00 and gave the stock a "sell" rating in a research note on Friday, January 26th. Finally, Citigroup boosted their target price on Textron from $104.00 to $111.00 and gave the stock a "buy" rating in a report on Thursday, April 4th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $90.88.

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.