California Public Employees Retirement System Has $29.73 Million Stock Position in Textron Inc. (NYSE:TXT)

California Public Employees Retirement System lessened its holdings in Textron Inc. (NYSE:TXT - Free Report) by 4.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 369,622 shares of the aerospace company's stock after selling 18,924 shares during the period. California Public Employees Retirement System owned about 0.19% of Textron worth $29,725,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Duality Advisers LP purchased a new position in shares of Textron in the 4th quarter valued at $2,745,000. Keeler Thomas Management LLC grew its holdings in Textron by 3.4% during the 4th quarter. Keeler Thomas Management LLC now owns 52,474 shares of the aerospace company's stock valued at $4,220,000 after purchasing an additional 1,701 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in Textron by 2.2% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 18,005 shares of the aerospace company's stock valued at $1,448,000 after purchasing an additional 379 shares in the last quarter. Lindbrook Capital LLC grew its holdings in Textron by 18.6% during 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 in the last quarter. Finally, abrdn plc grew its holdings in Textron by 63.8% during the 4th quarter. abrdn plc now owns 81,365 shares of the aerospace company's stock valued at $6,543,000 after purchasing an additional 31,702 shares in the last quarter. Hedge funds and other institutional investors own 86.03% of the company's stock.

Textron Stock Up 1.9 %

TXT stock traded up $1.61 during mid-day trading on Friday, hitting $86.51. 2,678,528 shares of the company were exchanged, compared to its average volume of 1,219,291. The company has a market capitalization of $16.64 billion, a PE ratio of 18.49, a price-to-earnings-growth ratio of 1.36 and a beta of 1.30. The company has a current ratio of 1.66, a quick ratio of 1.03 and a debt-to-equity ratio of 0.41. Textron Inc. has a twelve month low of $61.27 and a twelve month high of $97.33. The firm has a fifty day simple moving average of $92.10 and a 200 day simple moving average of $83.93.

Textron (NYSE:TXT - Get Free Report) last posted its quarterly earnings results on Thursday, April 25th. The aerospace company reported $1.20 EPS for the quarter, missing the consensus estimate of $1.28 by ($0.08). Textron had a net margin of 6.75% and a return on equity of 16.30%. The business had revenue of $3.14 billion during the quarter, compared to analyst estimates of $3.29 billion. During the same period last year, the firm posted $1.05 earnings per share. The company's quarterly revenue was up 3.7% on a year-over-year basis. On average, research analysts forecast that Textron Inc. will post 6.29 earnings per share for the current fiscal year.

Textron Dividend Announcement

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 issued a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.09%. The ex-dividend date is Friday, June 14th. Textron's dividend payout ratio (DPR) is presently 1.71%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on TXT. UBS Group raised their price target on shares of Textron from $77.00 to $81.00 and gave the company a "sell" rating in a report on Friday, January 26th. Citigroup raised their price target on shares of Textron from $104.00 to $111.00 and gave the company a "buy" rating in a report on Thursday, April 4th. Susquehanna lowered their price target on shares of Textron from $110.00 to $105.00 and set a "positive" rating for the company in a report on Friday. StockNews.com lowered shares of Textron from a "strong-buy" rating to a "buy" rating in a report on Friday. Finally, The Goldman Sachs Group raised their price objective on shares of Textron from $103.00 to $120.00 and gave the stock a "buy" rating in a report on Tuesday, April 16th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $95.63.

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.