Commonwealth of Pennsylvania Public School Empls Retrmt SYS Has $3.02 Million Stock Position in Textron Inc. (NYSE:TXT)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lessened its stake in Textron Inc. (NYSE:TXT) by 3.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 39,445 shares of the aerospace company’s stock after selling 1,342 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Textron were worth $3,017,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. iA Global Asset Management Inc. boosted its holdings in shares of Textron by 339.1% in the 4th quarter. iA Global Asset Management Inc. now owns 15,705 shares of the aerospace company’s stock valued at $1,201,000 after purchasing an additional 12,128 shares in the last quarter. Magnetar Financial LLC acquired a new stake in Textron in the fourth quarter valued at about $276,000. Boston Partners raised its stake in Textron by 4.7% during the fourth quarter. Boston Partners now owns 7,483,692 shares of the aerospace company’s stock worth $572,465,000 after acquiring an additional 333,127 shares in the last quarter. Advisors Asset Management Inc. raised its stake in Textron by 9.2% during the fourth quarter. Advisors Asset Management Inc. now owns 27,711 shares of the aerospace company’s stock worth $2,120,000 after acquiring an additional 2,338 shares in the last quarter. Finally, Cibc World Markets Corp boosted its stake in shares of Textron by 14.7% in the 4th quarter. Cibc World Markets Corp now owns 29,350 shares of the aerospace company’s stock valued at $2,245,000 after purchasing an additional 3,763 shares in the last quarter. Institutional investors own 86.03% of the company’s stock.

Analysts Set New Price Targets

TXT has been the subject of a number of research analyst reports. Morgan Stanley lowered their price objective on shares of Textron from $86.00 to $82.00 and set an “equal weight” rating for the company in a research report on Thursday, January 23rd. Citigroup dropped their price target on Textron from $118.00 to $111.00 and set a “buy” rating for the company in a research note on Tuesday, January 21st. Robert W. Baird reduced their price objective on Textron from $100.00 to $92.00 and set an “outperform” rating on the stock in a research report on Thursday, January 23rd. Bank of America downgraded Textron from a “buy” rating to a “neutral” rating and dropped their target price for the company from $110.00 to $85.00 in a research report on Friday, January 24th. Finally, TD Cowen raised Textron to a “hold” rating in a research note on Monday, February 24th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $93.45.

Insider Buying and Selling

In other Textron news, VP Mark S. Bamford sold 5,451 shares of the stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $72.68, for a total transaction of $396,178.68. Following the transaction, the vice president now directly owns 18,223 shares in the company, valued at approximately $1,324,447.64. This represents a 23.03 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.70% of the stock is currently owned by insiders.

Textron Stock Performance

Shares of TXT stock opened at $74.23 on Tuesday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.76 and a quick ratio of 0.84. Textron Inc. has a one year low of $70.14 and a one year high of $97.34. The business’s 50 day simple moving average is $74.83 and its 200 day simple moving average is $80.51. The stock has a market capitalization of $13.48 billion, a PE ratio of 17.22, a PEG ratio of 1.18 and a beta of 1.27.

Textron (NYSE:TXT) last posted its quarterly earnings data on Wednesday, January 22nd. The aerospace company reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.07. The company had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $3.78 billion. Textron had a net margin of 6.01% and a return on equity of 14.92%. Textron’s revenue for the quarter was down 7.2% compared to the same quarter last year. During the same period in the prior year, the company posted $1.60 earnings per share. As a group, research analysts forecast that Textron Inc. will post 6.12 earnings per share for the current year.

Textron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.11%. The ex-dividend date of this dividend is Friday, March 14th. Textron’s dividend payout ratio is 1.86%.

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.