Textron Inc. (NYSE:TXT) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D lowered its stake in Textron Inc. (NYSE:TXT) by 37.1% during the second quarter, HoldingsChannel reports. The firm owned 67,512 shares of the aerospace company’s stock after selling 39,846 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Textron were worth $5,797,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Innealta Capital LLC purchased a new stake in shares of Textron in the second quarter valued at about $25,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Textron in the 2nd quarter valued at approximately $30,000. Oakworth Capital Inc. acquired a new position in Textron during the 2nd quarter worth approximately $31,000. Family Firm Inc. purchased a new position in shares of Textron during the 2nd quarter worth approximately $40,000. Finally, Truvestments Capital LLC acquired a new stake in shares of Textron in the 1st quarter valued at approximately $48,000. Hedge funds and other institutional investors own 86.03% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. UBS Group upped their price objective on Textron from $84.00 to $87.00 and gave the stock a “sell” rating in a report on Friday, July 19th. Citigroup increased their price target on shares of Textron from $111.00 to $115.00 and gave the company a “buy” rating in a report on Monday, July 22nd. StockNews.com cut shares of Textron from a “strong-buy” rating to a “buy” rating in a research note on Thursday. Morgan Stanley lowered 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. Finally, TD Cowen lifted their price target on shares of Textron from $100.00 to $103.00 and gave the company a “buy” rating in a research report on Friday, July 19th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $102.50.

Textron Price Performance

TXT stock opened at $87.70 on Monday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.81 and a current ratio of 1.79. The stock’s 50 day moving average price is $88.66 and its 200 day moving average price is $89.35. The firm has a market cap of $16.43 billion, a P/E ratio of 18.74, a PEG ratio of 1.38 and a beta of 1.23. Textron Inc. has a 1 year low of $74.13 and a 1 year high of $97.33.

Textron (NYSE:TXT) last posted its quarterly earnings data on Thursday, July 18th. The aerospace company reported $1.54 EPS for the quarter, beating analysts’ consensus estimates of $1.48 by $0.06. Textron had a return on equity of 16.41% and a net margin of 6.67%. The business had revenue of $3.53 billion for the quarter, compared to analyst estimates of $3.56 billion. During the same quarter last year, the company earned $1.46 earnings per share. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. On average, sell-side analysts expect that Textron Inc. will post 6.27 earnings per share for the current fiscal year.

Textron Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be paid a dividend of $0.02 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.08 annualized dividend and a dividend yield of 0.09%. Textron’s dividend payout ratio is currently 1.71%.

Textron Company Profile

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.