Textron Inc. (NYSE:TXT) Shares Sold by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky lessened its position in Textron Inc. (NYSE:TXTGet Rating) by 4.2% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 15,861 shares of the aerospace company’s stock after selling 690 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Textron were worth $1,180,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Wetherby Asset Management Inc. raised its position in shares of 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 buying an additional 155 shares during the last quarter. Yousif Capital Management LLC increased its position in Textron by 0.7% during the first quarter. Yousif Capital Management LLC now owns 26,689 shares of the aerospace company’s stock worth $1,985,000 after purchasing an additional 175 shares during the last quarter. Fifth Third Bancorp increased its position in Textron by 1.0% during the first quarter. Fifth Third Bancorp now owns 19,437 shares of the aerospace company’s stock worth $1,446,000 after purchasing an additional 185 shares during the last quarter. CIBC Asset Management Inc increased its position in Textron by 1.0% during the first quarter. CIBC Asset Management Inc now owns 21,173 shares of the aerospace company’s stock worth $1,575,000 after purchasing an additional 213 shares during the last quarter. Finally, Covenant Asset Management LLC increased its position in Textron by 0.4% during the first quarter. Covenant Asset Management LLC now owns 68,679 shares of the aerospace company’s stock worth $5,108,000 after purchasing an additional 255 shares during the last quarter. Institutional investors and hedge funds own 87.80% of the company’s stock.

Textron Price Performance

Shares of TXT stock opened at $61.07 on Friday. The company has a market capitalization of $12.92 billion, a PE ratio of 16.82, a price-to-earnings-growth ratio of 1.25 and a beta of 1.55. The firm has a fifty day simple moving average of $64.46 and a 200-day simple moving average of $65.83. The company has a current ratio of 2.30, a quick ratio of 1.22 and a debt-to-equity ratio of 0.52. Textron Inc. has a twelve month low of $57.11 and a twelve month high of $79.45.

Textron (NYSE:TXTGet Rating) last announced its earnings results on Thursday, July 28th. The aerospace company reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.12. The business had revenue of $3.15 billion during the quarter, compared to the consensus estimate of $3.22 billion. Textron had a net margin of 6.43% and a return on equity of 12.25%. The business’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.81 earnings per share. Equities research analysts anticipate that Textron Inc. will post 3.97 earnings per share for the current fiscal year.

Textron Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, October 1st. Shareholders of record on Friday, September 9th will be paid a dividend of $0.02 per share. The ex-dividend date is Thursday, September 8th. This represents a $0.08 dividend on an annualized basis and a yield of 0.13%. Textron’s dividend payout ratio (DPR) is 2.20%.

Analyst Upgrades and Downgrades

TXT has been the subject of several research analyst reports. Cfra upped their price target on shares of Textron to $73.00 in a research report on Tuesday, August 9th. Cowen set a $86.00 price target on shares of Textron in a research report on Tuesday, July 19th. Susquehanna Bancshares dropped their price objective on shares of Textron from $90.00 to $84.00 and set a “positive” rating for the company in a research report on Friday, July 29th. StockNews.com raised shares of Textron from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, September 13th. Finally, Bank of America dropped their price objective on shares of Textron from $74.00 to $70.00 and set a “neutral” rating for the company in a research report on Thursday, July 28th. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $81.33.

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.

Featured Articles

Want to see what other hedge funds are holding TXT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Textron Inc. (NYSE:TXTGet Rating).

Institutional Ownership by Quarter for Textron (NYSE:TXT)

Receive News & Ratings for Textron Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Textron and related companies with MarketBeat.com's FREE daily email newsletter.