Illinois Municipal Retirement Fund Has $12.24 Million Stock Holdings in Textron Inc. (NYSE:TXT)

Illinois Municipal Retirement Fund boosted its position in shares of Textron Inc. (NYSE:TXT - Free Report) by 33.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 152,175 shares of the aerospace company's stock after buying an additional 37,940 shares during the quarter. Illinois Municipal Retirement Fund owned 0.08% of Textron worth $12,238,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of TXT. CVA Family Office LLC bought a new position in Textron during the fourth quarter valued at about $29,000. Global Retirement Partners LLC lifted its holdings in shares of Textron by 393.9% during the third quarter. Global Retirement Partners LLC now owns 489 shares of the aerospace company's stock valued at $37,000 after purchasing an additional 390 shares during the last quarter. Trust Co. of Vermont purchased a new stake in shares of Textron during the third quarter valued at $37,000. Provence Wealth Management Group purchased a new stake in shares of Textron during the third quarter valued at $39,000. Finally, Morton Brown Family Wealth LLC purchased a new stake in shares of Textron during the fourth quarter valued at $40,000. Institutional investors own 86.03% of the company's stock.

Textron Stock Up 1.6 %

Shares of TXT traded up $1.52 during midday trading on Tuesday, reaching $95.29. 1,068,524 shares of the stock were exchanged, compared to its average volume of 1,148,525. The company has a quick ratio of 1.03, a current ratio of 1.92 and a debt-to-equity ratio of 0.50. The company has a market cap of $18.33 billion, a price-to-earnings ratio of 20.86, a P/E/G ratio of 1.47 and a beta of 1.30. The firm has a 50 day simple moving average of $91.77 and a 200-day simple moving average of $83.61. Textron Inc. has a 12-month low of $61.27 and a 12-month high of $97.33.

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

Textron Announces Dividend

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

Wall Street Analysts Forecast Growth

TXT has been the subject of several analyst reports. Citigroup upped their target price on Textron from $104.00 to $111.00 and gave the company a "buy" rating in a report on Thursday, April 4th. Bank of America raised Textron from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $85.00 to $105.00 in a research note on Friday, March 8th. UBS Group increased 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. The Goldman Sachs Group increased their price objective on Textron from $103.00 to $120.00 and gave the stock a "buy" rating in a research note on Tuesday, April 16th. Finally, StockNews.com raised Textron from a "buy" rating to a "strong-buy" rating in a research note on Thursday, January 25th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $93.63.

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.