Commonwealth of Pennsylvania Public School Empls Retrmt SYS Increases Position in Textron Inc. (NYSE:TXT)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in Textron Inc. (NYSE:TXTFree Report) by 13.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 39,826 shares of the aerospace company’s stock after acquiring an additional 4,652 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Textron were worth $3,112,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. Tokio Marine Asset Management Co. Ltd. grew its position in Textron by 3.3% in the second quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,227 shares of the aerospace company’s stock worth $286,000 after acquiring an additional 135 shares during the period. Kestra Advisory Services LLC grew its position in Textron by 2.9% in the second quarter. Kestra Advisory Services LLC now owns 4,930 shares of the aerospace company’s stock worth $333,000 after acquiring an additional 139 shares during the period. Financial Advocates Investment Management lifted its stake in Textron by 3.3% during the third quarter. Financial Advocates Investment Management now owns 5,208 shares of the aerospace company’s stock worth $407,000 after purchasing an additional 168 shares in the last quarter. Yousif Capital Management LLC lifted its stake 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 in the last quarter. Finally, Savant Capital LLC lifted its stake in Textron by 0.7% during the second quarter. Savant Capital LLC now owns 24,719 shares of the aerospace company’s stock worth $1,672,000 after purchasing an additional 177 shares in the last quarter. 85.92% of the stock is currently owned by hedge funds and other institutional investors.

Textron Stock Up 0.3 %

Shares of NYSE TXT opened at $87.47 on Tuesday. Textron Inc. has a 12-month low of $61.27 and a 12-month high of $88.40. 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 stock has a market cap of $17.14 billion, a P/E ratio of 19.14, a PEG ratio of 1.17 and a beta of 1.29. The business’s fifty day simple moving average is $80.90 and its 200-day simple moving average is $78.38.

Textron (NYSE:TXTGet Free Report) last posted its quarterly earnings results on Wednesday, January 24th. The aerospace company reported $1.60 earnings per share for the quarter, beating analysts’ consensus estimates of $1.53 by $0.07. Textron had a return on equity of 16.05% and a net margin of 6.73%. The company had revenue of $3.89 billion for the quarter, compared to analysts’ expectations of $3.97 billion. During the same period last year, the firm earned $1.07 earnings per share. Textron’s quarterly revenue was up 7.0% on a year-over-year basis. As a group, equities analysts predict that Textron Inc. will post 6.33 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have commented on TXT shares. Susquehanna restated a “positive” rating on shares of Textron in a research note on Friday, October 27th. JPMorgan Chase & Co. upped their price target on Textron from $84.00 to $85.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 20th. The Goldman Sachs Group restated a “buy” rating and set a $98.00 price target on shares of Textron in a research note on Tuesday, January 2nd. UBS Group upped their price target on Textron from $77.00 to $81.00 and gave the stock a “sell” rating in a research note on Friday, January 26th. Finally, Citigroup increased their price objective on Textron from $102.00 to $104.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $87.50.

Read Our Latest Stock Analysis on TXT

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.

Further Reading

Institutional Ownership by Quarter for Textron (NYSE:TXT)

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