New York State Common Retirement Fund Sells 26,000 Shares of Textron Inc. (NYSE:TXT)

by · The Markets Daily

New York State Common Retirement Fund reduced its position in Textron Inc. (NYSE:TXT – Free Report) by 5.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 489,495 shares of the aerospace company’s stock after selling 26,000 shares during the quarter. New York State Common Retirement Fund’s holdings in Textron were worth $43,359,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of TXT. Innealta Capital LLC bought a new stake in shares of Textron in the 2nd quarter valued at $25,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Textron in the 2nd quarter valued at $30,000. Oakworth Capital Inc. acquired a new position in shares of Textron during the 2nd quarter valued at $31,000. Family Firm Inc. acquired a new position in shares of Textron during the 2nd quarter valued at $40,000. Finally, Truvestments Capital LLC acquired a new position in shares of Textron during the 1st quarter valued at $48,000. 86.03% of the stock is owned by institutional investors.

Textron Stock Performance

TXT opened at $81.46 on Friday. The company has a current ratio of 1.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.46. The company’s fifty day moving average price is $87.00 and its two-hundred day moving average price is $87.64. Textron Inc. has a 1-year low of $74.13 and a 1-year high of $97.33. The company has a market cap of $15.11 billion, a price-to-earnings ratio of 17.90, a PEG ratio of 1.45 and a beta of 1.24.

Textron (NYSE:TXT – Get Free Report) last posted its earnings results on Thursday, October 24th. The aerospace company reported $1.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.49 by ($0.09). Textron had a return on equity of 16.02% and a net margin of 6.30%. The firm had revenue of $3.43 billion during the quarter, compared to the consensus estimate of $3.50 billion. During the same quarter in the previous year, the company earned $1.49 EPS. The business’s revenue was up 2.5% compared to the same quarter last year. On average, analysts expect that Textron Inc. will post 5.52 EPS for the current fiscal year.

Textron Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Friday, December 13th will be paid a $0.02 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.08 annualized dividend and a dividend yield of 0.10%. Textron’s payout ratio is 1.76%.

Analyst Ratings Changes

A number of research analysts recently issued reports on TXT shares. Robert W. Baird dropped their target price on shares of Textron from $109.00 to $100.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. Bank of America boosted their target price on shares of Textron from $105.00 to $110.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. TD Cowen downgraded shares of Textron from a “buy” rating to a “hold” rating and dropped their target price for the company from $103.00 to $95.00 in a research report on Wednesday, September 25th. JPMorgan Chase & Co. dropped their target price on shares of Textron from $100.00 to $95.00 and set a “neutral” rating on the stock in a research report on Monday, October 14th. Finally, Morgan Stanley downgraded shares of Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 target price on the stock. in a research report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Textron has a consensus rating of “Moderate Buy” and an average price target of $101.56.

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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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