Public Sector Pension Investment Board Grows Position in Textron Inc. (NYSE:TXT)

Public Sector Pension Investment Board increased its stake in shares of Textron Inc. (NYSE:TXT) by 8.5% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 7,694 shares of the aerospace company’s stock after buying an additional 600 shares during the period. Public Sector Pension Investment Board’s holdings in Textron were worth $682,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Innealta Capital LLC bought a new stake in shares of Textron in the second quarter valued at approximately $25,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Textron in the second quarter valued at approximately $30,000. Oakworth Capital Inc. bought a new stake in shares of Textron in the second quarter valued at approximately $31,000. Family Firm Inc. bought a new stake in Textron during the 2nd quarter worth approximately $40,000. Finally, Capital Performance Advisors LLP bought a new stake in Textron during the 3rd quarter worth approximately $42,000. Institutional investors own 86.03% of the company’s stock.

Textron Trading Down 0.5 %

NYSE:TXT opened at $82.66 on Friday. The company has a fifty day moving average of $85.49 and a 200 day moving average of $86.97. Textron Inc. has a 52 week low of $75.70 and a 52 week high of $97.33. The company has a quick ratio of 0.82, a current ratio of 1.83 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $15.33 billion, a P/E ratio of 18.17, a P/E/G ratio of 1.53 and a beta of 1.25.

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

Textron Dividend Announcement

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

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. JPMorgan Chase & Co. decreased their target price on shares of Textron from $100.00 to $95.00 and set a “neutral” rating on the stock in a report on Monday, October 14th. TD Cowen lowered shares of Textron from a “buy” rating to a “hold” rating and decreased their target price for the stock from $103.00 to $95.00 in a report on Wednesday, September 25th. StockNews.com cut shares of Textron from a “strong-buy” rating to a “buy” rating in a research note on Thursday, September 12th. UBS Group cut their price target on shares of Textron from $87.00 to $79.00 and set a “sell” rating for the company in a research note on Friday, October 25th. Finally, Robert W. Baird cut their price target on shares of Textron from $109.00 to $100.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, Textron presently has an average rating of “Moderate Buy” and an average price target of $101.56.

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.