Textron Inc. (NYSE:TXT) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund cut its stake in shares of Textron Inc. (NYSE:TXT - Free Report) by 10.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 437,595 shares of the aerospace company's stock after selling 51,900 shares during the period. New York State Common Retirement Fund owned 0.24% of Textron worth $33,472,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Merit Financial Group LLC raised its holdings in shares of Textron by 5.9% in the fourth quarter. Merit Financial Group LLC now owns 4,784 shares of the aerospace company's stock worth $366,000 after buying an additional 265 shares during the period. Empowered Funds LLC raised its holdings in shares of Textron by 28.6% in the fourth quarter. Empowered Funds LLC now owns 20,132 shares of the aerospace company's stock worth $1,540,000 after buying an additional 4,480 shares during the period. Franklin Resources Inc. raised its holdings in shares of Textron by 10.3% in the third quarter. Franklin Resources Inc. now owns 164,029 shares of the aerospace company's stock worth $14,505,000 after buying an additional 15,294 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Textron by 44.6% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,390 shares of the aerospace company's stock worth $1,343,000 after buying an additional 5,367 shares during the period. Finally, Kentucky Retirement Systems Insurance Trust Fund increased its holdings in Textron by 79.5% during the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 9,956 shares of the aerospace company's stock worth $762,000 after purchasing an additional 4,409 shares during the period. 86.03% of the stock is currently owned by hedge funds and other institutional investors.

Textron Price Performance

Shares of Textron stock traded down $0.09 on Friday, hitting $72.34. The company's stock had a trading volume of 1,648,802 shares, compared to its average volume of 1,351,591. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.84 and a current ratio of 1.76. Textron Inc. has a 1 year low of $71.67 and a 1 year high of $97.33. The firm has a fifty day moving average price of $76.37 and a 200-day moving average price of $82.79. The company has a market capitalization of $13.21 billion, a price-to-earnings ratio of 16.78, a price-to-earnings-growth ratio of 1.18 and a beta of 1.27.

Textron (NYSE:TXT - Get Free Report) last announced its quarterly earnings results on Wednesday, January 22nd. The aerospace company reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.27 by $0.07. Textron had a return on equity of 14.92% and a net margin of 6.01%. The firm had revenue of $3.61 billion during the quarter, compared to analyst estimates of $3.78 billion. During the same quarter in the previous year, the business earned $1.60 EPS. Textron's revenue for the quarter was down 7.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Textron Inc. will post 6.12 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have commented on TXT shares. Susquehanna reduced their price objective on Textron from $100.00 to $90.00 and set a "positive" rating on the stock in a report on Wednesday, January 8th. Barclays reduced their price objective on Textron from $104.00 to $95.00 and set an "overweight" rating on the stock in a report on Monday, December 23rd. Morgan Stanley reduced their price objective on Textron from $86.00 to $82.00 and set an "equal weight" rating on the stock in a report on Thursday, January 23rd. UBS Group dropped their target price on Textron from $87.00 to $79.00 and set a "sell" rating on the stock in a research report on Friday, October 25th. Finally, Vertical Research raised Textron from a "hold" rating to a "buy" rating and set a $91.00 target price on the stock in a research report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat, Textron has a consensus rating of "Moderate Buy" and a consensus target price of $93.45.

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.