Teachers Retirement System of The State of Kentucky Purchases 56,544 Shares of Textron Inc. (NYSE:TXT)

Teachers Retirement System of The State of Kentucky lifted its position in shares of Textron Inc. (NYSE:TXT) by 20.7% during the 2nd quarter, HoldingsChannel reports. The firm owned 330,337 shares of the aerospace company’s stock after acquiring an additional 56,544 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Textron were worth $28,362,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Innealta Capital LLC purchased a new stake in shares of Textron in the 2nd quarter worth about $25,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Textron in the second quarter worth about $30,000. Oakworth Capital Inc. bought a new position in shares of Textron during the second quarter valued at approximately $31,000. Family Firm Inc. purchased a new position in shares of Textron during the second quarter valued at approximately $40,000. Finally, Jones Financial Companies Lllp lifted its holdings in shares of Textron by 200.0% during the fourth quarter. Jones Financial Companies Lllp now owns 507 shares of the aerospace company’s stock valued at $41,000 after purchasing an additional 338 shares during the last quarter. Institutional investors own 86.03% of the company’s stock.

Textron Stock Performance

Shares of NYSE TXT opened at $88.56 on Tuesday. Textron Inc. has a 12-month low of $74.13 and a 12-month high of $97.33. The firm has a market capitalization of $16.59 billion, a price-to-earnings ratio of 18.92, a price-to-earnings-growth ratio of 1.39 and a beta of 1.23. The company has a current ratio of 1.79, a quick ratio of 0.81 and a debt-to-equity ratio of 0.47. The firm has a 50 day moving average of $88.20 and a 200 day moving average of $89.11.

Textron (NYSE:TXT) last issued its quarterly earnings data on Thursday, July 18th. The aerospace company reported $1.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.48 by $0.06. The firm had revenue of $3.53 billion during the quarter, compared to the consensus estimate of $3.56 billion. Textron had a net margin of 6.67% and a return on equity of 16.41%. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.46 EPS. On average, research analysts anticipate that Textron Inc. will post 6.18 earnings per share for the current year.

Textron Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be paid a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.09%. The ex-dividend date is Friday, September 13th. Textron’s dividend payout ratio (DPR) is presently 1.71%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Citigroup raised their price objective on Textron from $111.00 to $115.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. TD Cowen lowered shares of Textron from a “buy” rating to a “hold” rating and reduced their price objective for the company from $103.00 to $95.00 in a research note on Wednesday, September 25th. Bank of America raised their price target 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. Morgan Stanley downgraded Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 target price on the stock. in a research note on Thursday, August 8th. Finally, StockNews.com lowered Textron from a “strong-buy” rating to a “buy” rating in a research report on Thursday, September 12th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $101.50.

Textron 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.