New York State Common Retirement Fund Has $43.39 Million Stake in Textron Inc. (NYSE:TXT)

New York State Common Retirement Fund lessened its position in shares of Textron Inc. (NYSE:TXT) by 2.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 539,535 shares of the aerospace company’s stock after selling 14,966 shares during the quarter. New York State Common Retirement Fund owned approximately 0.28% of Textron worth $43,389,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of TXT. Lindbrook Capital LLC raised its holdings in Textron by 18.6% in the fourth quarter. Lindbrook Capital LLC now owns 777 shares of the aerospace company’s stock worth $62,000 after purchasing an additional 122 shares during the period. Allworth Financial LP lifted its holdings in Textron by 12.0% during the 4th quarter. Allworth Financial LP now owns 1,283 shares of the aerospace company’s stock worth $103,000 after purchasing an additional 137 shares during the last quarter. Quent Capital LLC grew its stake in shares of Textron by 29.2% in the fourth quarter. Quent Capital LLC now owns 633 shares of the aerospace company’s stock valued at $51,000 after acquiring an additional 143 shares in the last quarter. Financial Advocates Investment Management lifted its holdings in shares of Textron by 3.3% during the 3rd quarter. Financial Advocates Investment Management now owns 5,208 shares of the aerospace company’s stock worth $407,000 after acquiring an additional 168 shares during the period. Finally, Greenleaf Trust raised its position in Textron by 4.0% during the third quarter. Greenleaf Trust now owns 4,401 shares of the aerospace company’s stock valued at $344,000 after purchasing an additional 171 shares in the last quarter. 86.03% of the stock is currently owned by institutional investors and hedge funds.

Textron Trading Down 1.3 %

TXT opened at $94.00 on Thursday. Textron Inc. has a fifty-two week low of $61.27 and a fifty-two week high of $97.33. The firm has a market capitalization of $18.08 billion, a PE ratio of 20.57, a P/E/G ratio of 1.50 and a beta of 1.30. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.92 and a quick ratio of 1.03. The company’s 50-day moving average is $92.11 and its 200 day moving average is $83.81.

Textron (NYSE:TXT) last issued its quarterly earnings data on Wednesday, January 24th. The aerospace company reported $1.60 EPS for the quarter, topping the consensus estimate of $1.53 by $0.07. Textron had a return on equity of 16.05% and a net margin of 6.73%. The firm had revenue of $3.89 billion during the quarter, compared to the consensus estimate of $3.97 billion. During the same period in the prior year, the business posted $1.07 earnings per share. The company’s quarterly revenue was up 7.0% compared to the same quarter last year. As a group, research analysts predict that Textron Inc. will post 6.27 earnings per share for the current fiscal year.

Textron Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be issued a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.09%. Textron’s dividend payout ratio is presently 1.75%.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. The Goldman Sachs Group raised their target price on shares of Textron from $103.00 to $120.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Bank of America raised shares of Textron from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $85.00 to $105.00 in a research report on Friday, March 8th. UBS Group increased their target price on shares of Textron from $77.00 to $81.00 and gave the stock a “sell” rating in a research note on Friday, January 26th. StockNews.com raised shares of Textron from a “buy” rating to a “strong-buy” rating in a research note on Thursday, January 25th. Finally, Citigroup increased their price objective on shares of Textron from $104.00 to $111.00 and gave the stock 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, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $93.63.

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.