State of New Jersey Common Pension Fund D Purchases 4,253 Shares of Textron Inc. (NYSE:TXT)

State of New Jersey Common Pension Fund D raised its position in Textron Inc. (NYSE:TXTFree Report) by 4.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 107,358 shares of the aerospace company’s stock after purchasing an additional 4,253 shares during the quarter. State of New Jersey Common Pension Fund D owned 0.05% of Textron worth $8,389,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp increased its position in shares of Textron by 0.5% in the second quarter. State Street Corp now owns 8,933,601 shares of the aerospace company’s stock valued at $604,357,000 after acquiring an additional 42,749 shares during the last quarter. Metis Global Partners LLC increased its position in shares of Textron by 12.8% in the third quarter. Metis Global Partners LLC now owns 10,189 shares of the aerospace company’s stock valued at $796,000 after acquiring an additional 1,158 shares during the last quarter. Empirical Finance LLC increased its position in shares of Textron by 11.6% in the second quarter. Empirical Finance LLC now owns 6,847 shares of the aerospace company’s stock valued at $463,000 after acquiring an additional 714 shares during the last quarter. LSV Asset Management increased its position in shares of Textron by 7.6% in the third quarter. LSV Asset Management now owns 3,271,771 shares of the aerospace company’s stock valued at $255,656,000 after acquiring an additional 230,560 shares during the last quarter. Finally, Barclays PLC increased its position in shares of Textron by 44.0% in the third quarter. Barclays PLC now owns 513,267 shares of the aerospace company’s stock valued at $40,108,000 after acquiring an additional 156,719 shares during the last quarter. Institutional investors and hedge funds own 85.92% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on TXT shares. The Goldman Sachs Group reiterated a “buy” rating and set a $98.00 price target on shares of Textron in a report on Tuesday, January 2nd. Morgan Stanley lifted their price target on Textron from $86.00 to $88.00 and gave the stock an “overweight” rating in a report on Friday, October 27th. Citigroup lifted their price target on Textron from $102.00 to $104.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. StockNews.com upgraded Textron from a “buy” rating to a “strong-buy” rating in a report on Thursday, January 25th. Finally, JPMorgan Chase & Co. boosted their price objective on Textron from $84.00 to $85.00 and gave the stock a “neutral” rating in a report on Wednesday, December 20th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Textron presently has a consensus rating of “Moderate Buy” and an average price target of $87.50.

View Our Latest Research Report on TXT

Textron Stock Down 0.4 %

NYSE TXT opened at $87.20 on Monday. Textron Inc. has a 1-year low of $61.27 and a 1-year high of $88.40. The company has a market cap of $17.09 billion, a price-to-earnings ratio of 19.08, a PEG ratio of 1.17 and a beta of 1.29. The company has a current ratio of 1.77, a quick ratio of 0.88 and a debt-to-equity ratio of 0.45. The company has a 50 day moving average of $80.70 and a 200-day moving average of $78.30.

Textron (NYSE:TXTGet Free Report) last announced its quarterly earnings results on Wednesday, January 24th. The aerospace company reported $1.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.53 by $0.07. The company had revenue of $3.89 billion during the quarter, compared to the consensus estimate of $3.97 billion. Textron had a net margin of 6.73% and a return on equity of 16.05%. The company’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period in the prior year, the business earned $1.07 earnings per share. On average, equities research analysts expect that Textron Inc. will post 6.33 earnings per share for the current fiscal year.

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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Institutional Ownership by Quarter for Textron (NYSE:TXT)

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