Textron Inc. (NYSE:TXT) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System decreased its stake in shares of Textron Inc. (NYSE:TXT) by 14.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 164,774 shares of the aerospace company’s stock after selling 28,646 shares during the quarter. New York State Teachers Retirement System owned about 0.09% of Textron worth $12,604,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. True Wealth Design LLC acquired a new position in Textron during the 3rd quarter valued at approximately $26,000. Capital Performance Advisors LLP acquired a new position in Textron during the 3rd quarter valued at approximately $42,000. Truvestments Capital LLC acquired a new position in Textron during the 3rd quarter valued at approximately $43,000. Eastern Bank acquired a new position in Textron during the 4th quarter valued at approximately $42,000. Finally, Venturi Wealth Management LLC increased its stake in Textron by 69.5% during the 3rd quarter. Venturi Wealth Management LLC now owns 566 shares of the aerospace company’s stock valued at $50,000 after purchasing an additional 232 shares in the last quarter. Institutional investors and hedge funds own 86.03% of the company’s stock.

Textron Stock Down 1.0 %

TXT stock opened at $72.35 on Tuesday. The firm has a market cap of $13.42 billion, a PE ratio of 16.79, a P/E/G ratio of 1.23 and a beta of 1.27. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.82 and a current ratio of 1.83. The firm’s fifty day moving average is $76.93 and its 200 day moving average is $83.04. Textron Inc. has a one year low of $72.03 and a one year high of $97.33.

Textron (NYSE:TXT) last released its quarterly earnings results on Wednesday, January 22nd. The aerospace company reported $1.34 EPS for the quarter, beating the consensus estimate of $1.27 by $0.07. The company had revenue of $3.61 billion for the quarter, compared to analyst estimates of $3.78 billion. Textron had a net margin of 6.01% and a return on equity of 14.92%. The firm’s revenue was down 7.2% on a year-over-year basis. During the same quarter last year, the business earned $1.60 earnings per share. On average, research analysts forecast that Textron Inc. will post 6.1 EPS for the current year.

Analyst Ratings Changes

TXT has been the topic of a number of recent analyst reports. UBS Group cut their price target on shares of Textron from $87.00 to $79.00 and set a “sell” rating on the stock in a research note on Friday, October 25th. TD Cowen upgraded shares of Textron to a “hold” rating in a research note on Thursday, December 19th. Barclays cut their price objective on shares of Textron from $104.00 to $95.00 and set an “overweight” rating on the stock in a research note on Monday, December 23rd. Morgan Stanley cut their price objective on shares of Textron from $86.00 to $82.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 23rd. Finally, Citigroup cut their price objective on shares of Textron from $118.00 to $111.00 and set a “buy” rating on the stock in a research note on Tuesday, January 21st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $93.45.

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.