State of New Jersey Common Pension Fund D Sells 4,482 Shares of Textron Inc. (NYSE:TXT)

State of New Jersey Common Pension Fund D trimmed its stake in Textron Inc. (NYSE:TXT - Free Report) by 6.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 62,353 shares of the aerospace company's stock after selling 4,482 shares during the period. State of New Jersey Common Pension Fund D's holdings in Textron were worth $4,769,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of TXT. Merit Financial Group LLC increased 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 grew its position in Textron by 28.6% during the 4th quarter. Empowered Funds LLC now owns 20,132 shares of the aerospace company's stock worth $1,540,000 after acquiring an additional 4,480 shares during the last quarter. Franklin Resources Inc. increased its stake in Textron by 10.3% in the 3rd quarter. Franklin Resources Inc. now owns 164,029 shares of the aerospace company's stock worth $14,505,000 after purchasing an additional 15,294 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Textron by 44.6% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,390 shares of the aerospace company's stock valued at $1,343,000 after purchasing an additional 5,367 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Textron by 0.9% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 475,420 shares of the aerospace company's stock worth $36,365,000 after purchasing an additional 4,381 shares during the last quarter. 86.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have weighed in on TXT. Vertical Research raised shares of Textron from a "hold" rating to a "buy" rating and set a $91.00 price target for the company in a research report on Monday, January 6th. TD Cowen raised Textron to a "hold" rating in a research note on Thursday, December 19th. Citigroup lowered their price target on Textron from $118.00 to $111.00 and set a "buy" rating for the company in a research report on Tuesday, January 21st. JPMorgan Chase & Co. cut 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. Finally, Robert W. Baird decreased their target price on Textron from $100.00 to $92.00 and set an "outperform" rating for the company in a report on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $93.45.

Textron Stock Performance

Shares of Textron stock traded down $0.33 during trading on Friday, hitting $72.10. 654,069 shares of the company's stock traded hands, compared to its average volume of 1,320,422. Textron Inc. has a 1 year low of $71.67 and a 1 year high of $97.33. The business has a 50-day simple moving average of $76.37 and a 200-day simple moving average of $82.79. The stock has a market capitalization of $13.16 billion, a P/E ratio of 16.71, a PEG ratio of 1.18 and a beta of 1.27. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.76 and a quick ratio of 0.84.

Textron (NYSE:TXT - Get Free Report) last released its quarterly earnings data 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 net margin of 6.01% and a return on equity of 14.92%. The firm had revenue of $3.61 billion during the quarter, compared to analysts' expectations of $3.78 billion. During the same period in the previous year, the company earned $1.60 earnings per share. The firm's quarterly revenue was down 7.2% on a year-over-year basis. As a group, analysts forecast that Textron Inc. will post 6.12 EPS for the current year.

Textron Company 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.