Textron Inc. (NYSE:TXT) Shares Sold by New Mexico Educational Retirement Board

New Mexico Educational Retirement Board reduced its holdings in Textron Inc. (NYSE:TXTGet Rating) by 5.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,857 shares of the aerospace company’s stock after selling 800 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Textron were worth $956,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. Ieq Capital LLC increased its stake in Textron by 2.2% in the fourth quarter. Ieq Capital LLC now owns 7,056 shares of the aerospace company’s stock valued at $545,000 after purchasing an additional 149 shares during the last quarter. Wetherby Asset Management Inc. increased its stake in Textron by 5.4% in the fourth quarter. Wetherby Asset Management Inc. now owns 3,013 shares of the aerospace company’s stock valued at $233,000 after purchasing an additional 155 shares during the last quarter. Pictet Asset Management SA increased its stake in Textron by 0.5% in the fourth quarter. Pictet Asset Management SA now owns 31,811 shares of the aerospace company’s stock valued at $2,456,000 after purchasing an additional 160 shares during the last quarter. Allworth Financial LP grew its position in Textron by 36.3% during the fourth quarter. Allworth Financial LP now owns 714 shares of the aerospace company’s stock valued at $55,000 after acquiring an additional 190 shares during the period. Finally, Nvwm LLC grew its position in Textron by 4.0% during the fourth quarter. Nvwm LLC now owns 5,143 shares of the aerospace company’s stock valued at $398,000 after acquiring an additional 200 shares during the period. Hedge funds and other institutional investors own 86.10% of the company’s stock.

Shares of NYSE TXT opened at $58.99 on Thursday. Textron Inc. has a 1-year low of $57.11 and a 1-year high of $79.45. The business has a 50-day moving average of $65.42 and a 200-day moving average of $70.16. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.46 and a quick ratio of 1.37. The company has a market capitalization of $12.69 billion, a price-to-earnings ratio of 17.20, a PEG ratio of 1.14 and a beta of 1.65.

Textron (NYSE:TXTGet Rating) last issued its earnings results on Thursday, April 28th. The aerospace company reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.16. Textron had a return on equity of 12.08% and a net margin of 6.14%. The company had revenue of $3 billion during the quarter, compared to the consensus estimate of $2.97 billion. During the same quarter in the prior year, the business earned $0.70 earnings per share. The company’s revenue was up 4.2% compared to the same quarter last year. Research analysts expect that Textron Inc. will post 4.08 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, July 1st. Stockholders of record on Friday, June 10th will be given a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.14%. The ex-dividend date of this dividend is Thursday, June 9th. Textron’s payout ratio is 2.33%.

Separately, StockNews.com raised Textron from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 3rd. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $86.43.

Textron Company Profile (Get Rating)

Textron Inc operates in the aircraft, defense, industrial, and finance businesses. The company's 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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Institutional Ownership by Quarter for Textron (NYSE:TXT)

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