Retirement Systems of Alabama Sells 1,589 Shares of Textron Inc. (NYSE:TXT)

Retirement Systems of Alabama decreased its position in shares of Textron Inc. (NYSE:TXT) by 3.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 43,197 shares of the aerospace company’s stock after selling 1,589 shares during the quarter. Retirement Systems of Alabama’s holdings in Textron were worth $3,474,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Lindbrook Capital LLC raised its position in shares of Textron by 18.6% in the 4th quarter. Lindbrook Capital LLC now owns 777 shares of the aerospace company’s stock worth $62,000 after acquiring an additional 122 shares in the last quarter. Allworth Financial LP increased its holdings in Textron by 12.0% in the fourth quarter. Allworth Financial LP now owns 1,283 shares of the aerospace company’s stock worth $103,000 after purchasing an additional 137 shares in the last quarter. Quent Capital LLC lifted its stake in Textron by 29.2% in the fourth quarter. Quent Capital LLC now owns 633 shares of the aerospace company’s stock valued at $51,000 after buying an additional 143 shares during the period. Financial Advocates Investment Management boosted its holdings in shares of Textron by 3.3% during the 3rd quarter. Financial Advocates Investment Management now owns 5,208 shares of the aerospace company’s stock worth $407,000 after buying an additional 168 shares in the last quarter. Finally, Greenleaf Trust grew its position in shares of Textron by 4.0% during the 3rd quarter. Greenleaf Trust now owns 4,401 shares of the aerospace company’s stock worth $344,000 after buying an additional 171 shares during the period. Institutional investors and hedge funds own 86.03% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on TXT shares. Bank of America raised shares of Textron from a “neutral” rating to a “buy” rating and lifted their price target for the company from $85.00 to $105.00 in a research note on Friday, March 8th. Susquehanna dropped their price target on Textron from $110.00 to $105.00 and set a “positive” rating on the stock in a research note on Friday, April 26th. Citigroup raised their price objective on Textron from $104.00 to $111.00 and gave the company a “buy” rating in a research note on Thursday, April 4th. The Goldman Sachs Group upped their target price on Textron from $103.00 to $120.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Finally, UBS Group lifted their price target on shares of Textron from $77.00 to $81.00 and gave the company a “sell” rating in a research report on Friday, January 26th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $95.63.

Textron Trading Up 0.7 %

NYSE:TXT opened at $87.51 on Wednesday. Textron Inc. has a 52 week low of $61.27 and a 52 week high of $97.33. The firm has a 50-day moving average price of $92.09 and a two-hundred day moving average price of $84.30. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.84 and a current ratio of 1.81. The firm has a market cap of $16.69 billion, a price-to-earnings ratio of 18.70, a price-to-earnings-growth ratio of 1.35 and a beta of 1.32.

Textron (NYSE:TXT) last issued its quarterly earnings results on Thursday, April 25th. The aerospace company reported $1.20 EPS for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.08). The business had revenue of $3.14 billion for the quarter, compared to the consensus estimate of $3.29 billion. Textron had a return on equity of 16.30% and a net margin of 6.75%. The business’s revenue was up 3.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.05 earnings per share. On average, equities analysts expect that Textron Inc. will post 6.27 earnings per share for the current fiscal year.

Textron Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be given 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 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.