New York State Teachers Retirement System Reduces Stock Holdings in Textron Inc. (NYSE:TXT)

New York State Teachers Retirement System lowered its stake in Textron Inc. (NYSE:TXT - Free Report) by 7.4% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 193,420 shares of the aerospace company's stock after selling 15,483 shares during the quarter. New York State Teachers Retirement System owned about 0.10% of Textron worth $17,133,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Innealta Capital LLC purchased a new position in Textron during the second quarter valued at approximately $25,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in Textron in the 2nd quarter worth $30,000. Oakworth Capital Inc. bought a new position in Textron in the 2nd quarter worth $31,000. Family Firm Inc. purchased a new stake in Textron in the 2nd quarter worth $40,000. Finally, Truvestments Capital LLC bought a new stake in Textron during the first quarter valued at about $48,000. 86.03% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TXT has been the subject of several research analyst reports. TD Cowen cut Textron from a "buy" rating to a "hold" rating and cut their target price for the stock from $103.00 to $95.00 in a research report on Wednesday, September 25th. UBS Group reduced their price objective on shares of Textron from $87.00 to $79.00 and set a "sell" rating on the stock in a research report on Friday, October 25th. Morgan Stanley downgraded shares of Textron from an "overweight" rating to an "equal weight" rating and set a $95.00 target price on the stock. in a report on Thursday, August 8th. Citigroup raised their target price on shares of Textron from $111.00 to $115.00 and gave the company a "buy" rating in a research note on Monday, July 22nd. Finally, StockNews.com downgraded shares of Textron from a "strong-buy" rating to a "buy" rating in a report on Thursday, September 12th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat, Textron currently has a consensus rating of "Moderate Buy" and a consensus target price of $101.56.

Textron Trading Up 1.3 %

TXT stock traded up $1.04 during mid-day trading on Friday, reaching $81.46. The company had a trading volume of 1,177,185 shares, compared to its average volume of 1,118,576. The company has a market capitalization of $15.11 billion, a PE ratio of 17.90, a price-to-earnings-growth ratio of 1.45 and a beta of 1.24. The firm has a 50 day moving average of $87.00 and a 200 day moving average of $87.64. Textron Inc. has a 12 month low of $74.13 and a 12 month high of $97.33. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.83 and a quick ratio of 0.82.

Textron (NYSE:TXT - Get Free Report) last announced its quarterly earnings data on Thursday, October 24th. The aerospace company reported $1.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.49 by ($0.09). Textron had a return on equity of 16.02% and a net margin of 6.30%. The firm had revenue of $3.43 billion during the quarter, compared to the consensus estimate of $3.50 billion. During the same period last year, the company earned $1.49 EPS. The firm's revenue for the quarter was up 2.5% compared to the same quarter last year. On average, equities analysts predict that Textron Inc. will post 5.52 earnings per share for the current fiscal year.

Textron Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Friday, December 13th will be issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.10%. The ex-dividend date of this dividend is Friday, December 13th. Textron's payout ratio is 1.76%.

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.