11,900 Shares in Textron Inc. (NYSE:TXT) Bought by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System acquired a new position in shares of Textron Inc. (NYSE:TXT) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 11,900 shares of the aerospace company’s stock, valued at approximately $957,000.

Several other hedge funds have also added to or reduced their stakes in TXT. AE Wealth Management LLC raised its stake in Textron by 23.7% during the 3rd quarter. AE Wealth Management LLC now owns 13,114 shares of the aerospace company’s stock worth $1,025,000 after buying an additional 2,515 shares during the period. Global Retirement Partners LLC increased its holdings in Textron by 393.9% during the 3rd quarter. Global Retirement Partners LLC now owns 489 shares of the aerospace company’s stock worth $37,000 after purchasing an additional 390 shares in the last quarter. Czech National Bank increased its holdings in Textron by 45.0% during the 3rd quarter. Czech National Bank now owns 34,619 shares of the aerospace company’s stock worth $2,705,000 after purchasing an additional 10,744 shares in the last quarter. Uncommon Cents Investing LLC bought a new position in Textron during the 3rd quarter worth about $276,000. Finally, Bfsg LLC bought a new position in Textron during the 3rd quarter worth about $901,000. Institutional investors and hedge funds own 86.03% of the company’s stock.

Textron Price Performance

Shares of NYSE TXT opened at $94.00 on Thursday. The stock has a market capitalization of $18.08 billion, a price-to-earnings ratio of 20.57, a PEG ratio of 1.48 and a beta of 1.30. The business has a 50-day moving average of $92.11 and a 200-day moving average of $83.81. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.92 and a quick ratio of 1.03. Textron Inc. has a fifty-two week low of $61.27 and a fifty-two week high of $97.33.

Textron (NYSE:TXT) last posted its quarterly earnings results on Wednesday, January 24th. The aerospace company reported $1.60 EPS for the quarter, topping analysts’ consensus estimates of $1.53 by $0.07. Textron had a return on equity of 16.05% and a net margin of 6.73%. The business had revenue of $3.89 billion during the quarter, compared to analysts’ expectations of $3.97 billion. During the same quarter last year, the company posted $1.07 earnings per share. Textron’s quarterly revenue was up 7.0% on a year-over-year basis. As a group, sell-side analysts predict that Textron Inc. will post 6.27 earnings per share for the current fiscal year.

Textron Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be issued a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.09%. Textron’s payout ratio is currently 1.75%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on TXT. Bank of America upgraded Textron from a “neutral” rating to a “buy” rating and increased their target price for the stock from $85.00 to $105.00 in a report on Friday, March 8th. Citigroup increased their target price on Textron from $104.00 to $111.00 and gave the stock a “buy” rating in a report on Thursday, April 4th. The Goldman Sachs Group increased their target price on Textron from $103.00 to $120.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. StockNews.com upgraded Textron from a “buy” rating to a “strong-buy” rating in a report on Thursday, January 25th. Finally, UBS Group raised their price objective on Textron from $77.00 to $81.00 and gave the company a “sell” rating in a report on Friday, January 26th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $93.63.

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.