State of Alaska Department of Revenue Lowers Stake in Textron Inc. (NYSE:TXT)

State of Alaska Department of Revenue reduced its position in Textron Inc. (NYSE:TXT - Free Report) by 36.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,153 shares of the aerospace company's stock after selling 11,912 shares during the period. State of Alaska Department of Revenue's holdings in Textron were worth $1,617,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Textron by 44.6% in the 4th 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 last quarter. Robeco Institutional Asset Management B.V. lifted its position in shares of Textron by 3.3% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 511,770 shares of the aerospace company's stock valued at $39,145,000 after acquiring an additional 16,359 shares in the last quarter. Patriot Financial Group Insurance Agency LLC lifted its position in shares of Textron by 5.8% in the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 2,977 shares of the aerospace company's stock valued at $228,000 after acquiring an additional 163 shares in the last quarter. Foundations Investment Advisors LLC lifted its position in shares of Textron by 4.1% in the fourth quarter. Foundations Investment Advisors LLC now owns 4,272 shares of the aerospace company's stock valued at $327,000 after acquiring an additional 169 shares in the last quarter. Finally, Pacer Advisors Inc. lifted its position in shares of Textron by 19.3% in the fourth quarter. Pacer Advisors Inc. now owns 16,555 shares of the aerospace company's stock valued at $1,266,000 after acquiring an additional 2,679 shares in the last quarter. 86.03% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on TXT shares. JPMorgan Chase & Co. lowered their price objective on Textron from $90.00 to $88.00 and set a "neutral" rating on the stock in a research report on Thursday, January 16th. Robert W. Baird lowered their price objective on Textron from $100.00 to $92.00 and set an "outperform" rating on the stock in a research report on Thursday, January 23rd. Morgan Stanley reduced their target price on Textron from $86.00 to $82.00 and set an "equal weight" rating on the stock in a report on Thursday, January 23rd. Citigroup reduced their target price on Textron from $118.00 to $111.00 and set a "buy" rating on the stock in a report on Tuesday, January 21st. 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 report on Monday, January 6th. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $93.45.

Textron Trading Down 1.0 %

NYSE TXT traded down $0.75 during trading hours on Friday, hitting $72.35. 1,582,154 shares of the company were exchanged, compared to its average volume of 1,333,558. The stock has a 50-day moving average price of $77.13 and a 200 day moving average price of $83.24. The company has a quick ratio of 0.82, a current ratio of 1.83 and a debt-to-equity ratio of 0.40. Textron Inc. has a 52 week low of $72.03 and a 52 week high of $97.33. The stock has a market cap of $13.42 billion, a PE ratio of 16.79, a price-to-earnings-growth ratio of 1.23 and a beta of 1.27.

Textron (NYSE:TXT - Get Free Report) last issued its quarterly earnings data on Wednesday, January 22nd. The aerospace company reported $1.34 earnings per share for the quarter, topping 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 company had revenue of $3.61 billion for the quarter, compared to analysts' expectations of $3.78 billion. During the same period in the previous year, the firm posted $1.60 earnings per share. The firm's revenue for the quarter was down 7.2% on a year-over-year basis. Analysts forecast that Textron Inc. will post 6.1 earnings per share for the current fiscal year.

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.