New York State Common Retirement Fund Reduces Holdings in Textron Inc. (NYSE:TXT)

New York State Common Retirement Fund trimmed its position in shares of Textron Inc. (NYSE:TXT - Free Report) by 2.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 539,535 shares of the aerospace company's stock after selling 14,966 shares during the quarter. New York State Common Retirement Fund owned approximately 0.28% of Textron worth $43,389,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. SC&H Financial Advisors Inc. purchased a new stake in shares of Textron in the fourth quarter valued at $250,000. Duality Advisers LP acquired a new stake in shares of Textron in the fourth quarter worth approximately $2,745,000. Keeler Thomas Management LLC increased its position in Textron by 3.4% during the fourth quarter. Keeler Thomas Management LLC now owns 52,474 shares of the aerospace company's stock worth $4,220,000 after purchasing an additional 1,701 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in Textron by 2.2% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 18,005 shares of the aerospace company's stock worth $1,448,000 after purchasing an additional 379 shares during the period. Finally, Lindbrook Capital LLC boosted its holdings in shares of Textron by 18.6% in the 4th quarter. Lindbrook Capital LLC now owns 777 shares of the aerospace company's stock valued at $62,000 after purchasing an additional 122 shares during the last quarter. Hedge funds and other institutional investors own 86.03% of the company's stock.

Textron Price Performance

Shares of NYSE TXT traded down $9.11 during midday trading on Thursday, reaching $84.90. The company's stock had a trading volume of 5,137,663 shares, compared to its average volume of 1,203,056. The company has a market cap of $16.33 billion, a P/E ratio of 18.58, a P/E/G ratio of 1.50 and a beta of 1.30. Textron Inc. has a fifty-two week low of $61.27 and a fifty-two week high of $97.33. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.03 and a current ratio of 1.92. The business's 50 day moving average price is $92.11 and its two-hundred day moving average price is $83.81.

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

Textron Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be paid a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.09%. The ex-dividend date is Friday, June 14th. Textron's payout ratio is currently 1.75%.

Wall Street Analysts Forecast Growth

TXT has been the topic of several research analyst reports. UBS Group lifted their price objective on Textron from $77.00 to $81.00 and gave the company a "sell" rating in a research note on Friday, January 26th. The Goldman Sachs Group raised their price objective on shares of Textron from $103.00 to $120.00 and gave the company a "buy" rating in a research report on Tuesday, April 16th. StockNews.com upgraded Textron from a "buy" rating to a "strong-buy" rating in a report on Thursday, January 25th. Bank of America raised shares of Textron from a "neutral" rating to a "buy" rating and upped their target price for the company from $85.00 to $105.00 in a research note on Friday, March 8th. Finally, Citigroup increased their target price on shares of Textron from $104.00 to $111.00 and gave the stock a "buy" rating in a research 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. According to MarketBeat, Textron has a consensus rating of "Moderate Buy" and a consensus 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.