New York Life Investment Management LLC Has $2.28 Million Stock Holdings in Textron Inc. (NYSE:TXT)

New York Life Investment Management LLC reduced its stake in Textron Inc. (NYSE:TXT) by 3.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 28,384 shares of the aerospace company’s stock after selling 880 shares during the period. New York Life Investment Management LLC’s holdings in Textron were worth $2,283,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. CVA Family Office LLC acquired a new position in Textron during the fourth quarter worth $29,000. Trust Co. of Vermont acquired a new position in Textron in the third quarter valued at about $37,000. Morton Brown Family Wealth LLC bought a new stake in Textron during the fourth quarter worth about $40,000. Provence Wealth Management Group bought a new position in shares of Textron in the third quarter valued at approximately $39,000. Finally, Quent Capital LLC grew its position in Textron by 29.2% during the 4th quarter. Quent Capital LLC now owns 633 shares of the aerospace company’s stock worth $51,000 after acquiring an additional 143 shares during the last quarter. 86.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TXT has been the topic of several research analyst reports. UBS Group increased their target price on Textron from $77.00 to $81.00 and gave the stock a “sell” rating in a report on Friday, January 26th. Bank of America upgraded shares of Textron from a “neutral” rating to a “buy” rating and raised their price objective for the company from $85.00 to $105.00 in a research report on Friday, March 8th. Susquehanna decreased their price target on shares of Textron from $110.00 to $105.00 and set a “positive” rating on the stock in a research note on Friday, April 26th. StockNews.com cut shares of Textron from a “strong-buy” rating to a “buy” rating in a research report on Friday, April 26th. Finally, Citigroup increased their price objective on Textron from $104.00 to $111.00 and gave the company a “buy” rating in a research report on Thursday, April 4th. One analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Textron has an average rating of “Moderate Buy” and an average price target of $95.63.

Textron Stock Performance

Shares of Textron stock opened at $86.90 on Tuesday. Textron Inc. has a 52 week low of $61.27 and a 52 week high of $97.33. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.84 and a current ratio of 1.81. The stock has a market capitalization of $16.57 billion, a price-to-earnings ratio of 18.57, a PEG ratio of 1.35 and a beta of 1.32. The firm has a fifty day moving average of $92.10 and a two-hundred day moving average of $84.22.

Textron (NYSE:TXT) last released its earnings results on Thursday, April 25th. The aerospace company reported $1.20 earnings per share for the quarter, missing the consensus estimate of $1.28 by ($0.08). The company had revenue of $3.14 billion during the quarter, compared to analyst estimates of $3.29 billion. Textron had a net margin of 6.75% and a return on equity of 16.30%. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.05 EPS. As a group, equities research analysts predict that Textron Inc. will post 6.27 EPS for the current year.

Textron Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be issued a $0.02 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.08 annualized dividend and a yield of 0.09%. Textron’s dividend payout ratio (DPR) is presently 1.71%.

About Textron

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.