Teacher Retirement System of Texas raised its holdings in Textron Inc. (NYSE:TXT - Free Report) by 301.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 169,187 shares of the aerospace company's stock after buying an additional 127,039 shares during the quarter. Teacher Retirement System of Texas owned 0.09% of Textron worth $13,606,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in TXT. CVA Family Office LLC bought a new position in shares of Textron during the fourth quarter valued at $29,000. Trust Co. of Vermont bought a new position in shares of Textron in the third quarter valued at approximately $37,000. Provence Wealth Management Group bought a new stake in Textron during the 3rd quarter worth approximately $39,000. Morton Brown Family Wealth LLC bought a new position in Textron in the 4th quarter valued at $40,000. Finally, Benjamin F. Edwards & Company Inc. boosted its stake in Textron by 677.1% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 544 shares of the aerospace company's stock worth $44,000 after purchasing an additional 474 shares in the last quarter. Institutional investors and hedge funds own 86.03% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities research analysts have commented on the stock. Bank of America raised shares of 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 report on Friday, March 8th. Susquehanna cut their price objective on Textron from $110.00 to $105.00 and set a "positive" rating on the stock in a report on Friday, April 26th. The Goldman Sachs Group lifted their price target on shares of Textron from $103.00 to $120.00 and gave the company a "buy" rating in a research note on Tuesday, April 16th. Citigroup raised their price objective on shares of Textron from $104.00 to $111.00 and gave the stock a "buy" rating in a report on Thursday, April 4th. Finally, StockNews.com cut Textron from a "strong-buy" rating to a "buy" rating in a research report on Friday, April 26th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $95.63.
Read Our Latest Report on Textron
Textron Stock Performance
TXT stock traded down $0.67 during trading hours on Monday, reaching $87.88. The stock had a trading volume of 799,021 shares, compared to its average volume of 1,211,103. The stock has a 50-day simple moving average of $92.06 and a 200 day simple moving average of $84.58. Textron Inc. has a fifty-two week low of $61.27 and a fifty-two week high of $97.33. The stock has a market capitalization of $16.76 billion, a PE ratio of 18.98, a price-to-earnings-growth ratio of 1.40 and a beta of 1.32. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.81 and a quick ratio of 0.84.
Textron (NYSE:TXT - Get Free Report) last released its quarterly earnings data on Thursday, April 25th. The aerospace company reported $1.20 earnings per share (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 the consensus estimate of $3.29 billion. During the same quarter in the prior year, the company earned $1.05 EPS. Textron's quarterly revenue was up 3.7% on a year-over-year basis. Analysts predict that Textron Inc. will post 6.27 EPS for the current fiscal year.
Textron Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be paid a $0.02 dividend. The ex-dividend date is Friday, June 14th. This represents a $0.08 dividend on an annualized basis and a yield of 0.09%. Textron's dividend payout ratio (DPR) is currently 1.71%.
About Textron
(
Free Report)
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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