State of Alaska Department of Revenue Has $4.96 Million Stock Position in Textron Inc. (NYSE:TXT)

State of Alaska Department of Revenue cut its holdings in Textron Inc. (NYSE:TXT) by 16.4% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 51,665 shares of the aerospace company’s stock after selling 10,110 shares during the period. State of Alaska Department of Revenue’s holdings in Textron were worth $4,955,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. CVA Family Office LLC acquired a new position in shares of Textron during the 4th quarter worth approximately $29,000. Trust Co. of Vermont acquired a new stake in Textron during the third quarter worth approximately $37,000. Morton Brown Family Wealth LLC bought a new position in Textron during the 4th quarter worth $40,000. Jones Financial Companies Lllp raised its holdings in Textron by 200.0% in the 4th quarter. Jones Financial Companies Lllp now owns 507 shares of the aerospace company’s stock valued at $41,000 after acquiring an additional 338 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. lifted its position in shares of Textron by 677.1% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 544 shares of the aerospace company’s stock valued at $44,000 after acquiring an additional 474 shares during the period. 86.03% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Kathleen M. Bader sold 11,870 shares of the firm’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $87.91, for a total transaction of $1,043,491.70. Following the completion of the transaction, the director now owns 3,756 shares of the company’s stock, valued at $330,189.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.80% of the company’s stock.

Textron Stock Performance

NYSE TXT opened at $86.21 on Friday. Textron Inc. has a fifty-two week low of $66.43 and a fifty-two week high of $97.33. The stock has a market cap of $16.44 billion, a PE ratio of 18.42, a PEG ratio of 1.37 and a beta of 1.25. 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 firm’s fifty day moving average price is $86.80 and its two-hundred day moving average price is $87.15.

Textron (NYSE:TXT) last issued its quarterly earnings data on Thursday, April 25th. The aerospace company reported $1.20 earnings per share for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.08). The firm had revenue of $3.14 billion for the quarter, compared to the consensus estimate of $3.29 billion. Textron had a return on equity of 16.30% and a net margin of 6.75%. The company’s revenue was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.05 EPS. On average, equities analysts expect that Textron Inc. will post 6.27 EPS for the current fiscal year.

Textron Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Friday, June 14th were given a dividend of $0.02 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $0.08 annualized dividend and a yield of 0.09%. Textron’s dividend payout ratio is presently 1.71%.

Analyst Ratings Changes

A number of research firms recently commented on TXT. Bank of America raised Textron from a “neutral” rating to a “buy” rating and boosted their price target for the company from $85.00 to $105.00 in a research note on Friday, March 8th. Citigroup boosted their target price on shares of Textron from $104.00 to $111.00 and gave the company a “buy” rating in a research report on Thursday, April 4th. The Goldman Sachs Group increased their price target on shares of Textron from $103.00 to $120.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Susquehanna lowered their price objective on shares of Textron from $110.00 to $105.00 and set a “positive” rating for the company in a research report on Friday, April 26th. Finally, StockNews.com downgraded Textron from a “strong-buy” rating to a “buy” rating in a report on Friday, April 26th. One analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $99.29.

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.