Textron Inc. (NYSE:TXT) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System trimmed its holdings in Textron Inc. (NYSE:TXT) by 4.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 369,622 shares of the aerospace company’s stock after selling 18,924 shares during the period. California Public Employees Retirement System’s holdings in Textron were worth $29,725,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. CVA Family Office LLC acquired a new stake in shares of Textron in the fourth quarter valued at about $29,000. Trust Co. of Vermont purchased a new stake in shares of Textron in the third quarter valued at about $37,000. Global Retirement Partners LLC grew its holdings in shares of Textron by 393.9% in the third quarter. Global Retirement Partners LLC now owns 489 shares of the aerospace company’s stock valued at $37,000 after purchasing an additional 390 shares during the period. Morton Brown Family Wealth LLC purchased a new stake in shares of Textron in the fourth quarter valued at about $40,000. Finally, Provence Wealth Management Group purchased a new stake in shares of Textron in the third quarter valued at about $39,000. 86.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on TXT shares. Susquehanna dropped their price objective on shares of Textron from $110.00 to $105.00 and set a “positive” rating for the company in a report on Friday. Citigroup upped their price objective on shares of Textron from $104.00 to $111.00 and gave the company a “buy” rating in a report on Thursday, April 4th. The Goldman Sachs Group upped their price objective on shares of Textron from $103.00 to $120.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. UBS Group increased their target price on shares of Textron from $77.00 to $81.00 and gave the stock a “sell” rating in a research note on Friday, January 26th. Finally, Bank of America raised shares of 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 research note on Friday, March 8th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $95.63.

Textron Stock Performance

NYSE TXT opened at $86.51 on Friday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.66 and a quick ratio of 1.03. Textron Inc. has a 1 year low of $61.27 and a 1 year high of $97.33. The company has a market capitalization of $16.64 billion, a PE ratio of 18.49, a P/E/G ratio of 1.36 and a beta of 1.30. The company has a fifty day moving average of $92.10 and a two-hundred day moving average of $83.90.

Textron (NYSE:TXT) last announced its earnings results on Thursday, April 25th. The aerospace company reported $1.20 earnings per share for the quarter, missing the consensus estimate of $1.28 by ($0.08). Textron had a return on equity of 16.30% and a net margin of 6.75%. The business had revenue of $3.14 billion for the quarter, compared to analyst estimates of $3.29 billion. During the same quarter last year, the company posted $1.05 EPS. Textron’s quarterly revenue was up 3.7% on a year-over-year basis. As a group, analysts expect that Textron Inc. will post 6.29 earnings per share for the current year.

Textron Announces Dividend

The company 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. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.08 annualized dividend and a yield of 0.09%. Textron’s dividend payout ratio is currently 1.71%.

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.