New York State Common Retirement Fund Trims Stock Position in Textron Inc. (NYSE:TXT)

New York State Common Retirement Fund lessened its stake in shares of Textron Inc. (NYSE:TXT - Free Report) by 5.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 489,495 shares of the aerospace company's stock after selling 26,000 shares during the quarter. New York State Common Retirement Fund owned about 0.26% of Textron worth $43,359,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

A number of equities research analysts recently commented on TXT shares. StockNews.com lowered Textron from a "strong-buy" rating to a "buy" rating in a research report on Thursday, September 12th. Bank of America raised their price target on shares of Textron from $105.00 to $110.00 and gave the company a "buy" rating in a research report on Tuesday, July 23rd. Robert W. Baird reduced their price objective on shares of Textron from $109.00 to $100.00 and set an "outperform" rating for the company in a research report on Friday, October 25th. UBS Group dropped their target price 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. Finally, Citigroup upped their target price on Textron from $111.00 to $115.00 and gave the company a "buy" rating in a report on Monday, July 22nd. One analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $101.56.

Textron Stock Performance

NYSE TXT traded up $1.04 on Friday, hitting $81.46. 1,177,185 shares of the stock traded hands, compared to its average volume of 1,118,576. The firm has a market capitalization of $15.11 billion, a price-to-earnings ratio of 17.90, a PEG ratio of 1.45 and a beta of 1.24. The business's fifty day moving average is $87.00 and its two-hundred day moving average is $87.60. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.82 and a current ratio of 1.83. Textron Inc. has a 12 month low of $74.13 and a 12 month high of $97.33.

Textron (NYSE:TXT - Get Free Report) last posted its quarterly earnings results on Thursday, October 24th. The aerospace company reported $1.40 earnings per share 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 for the quarter, compared to the consensus estimate of $3.50 billion. During the same quarter in the previous year, the company posted $1.49 EPS. The firm's revenue was up 2.5% compared to the same quarter last year. As a group, equities analysts anticipate that Textron Inc. will post 5.52 EPS for the current fiscal year.

Textron Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Friday, December 13th will be given a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.10%. The ex-dividend date of this dividend is Friday, December 13th. Textron's dividend payout ratio (DPR) is currently 1.76%.

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.