Textron Inc. (NYSE:TXT) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System lessened its stake in shares of Textron Inc. (NYSE:TXT - Free Report) by 14.8% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 164,774 shares of the aerospace company's stock after selling 28,646 shares during the period. New York State Teachers Retirement System owned 0.09% of Textron worth $12,604,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Robeco Institutional Asset Management B.V. lifted its holdings in shares of Textron by 3.3% in the 4th 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 during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Textron by 0.9% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 475,420 shares of the aerospace company's stock valued at $36,365,000 after buying an additional 4,381 shares during the last quarter. Wellington Management Group LLP grew its position in Textron by 18.0% in the 3rd quarter. Wellington Management Group LLP now owns 401,475 shares of the aerospace company's stock valued at $35,563,000 after acquiring an additional 61,248 shares during the last quarter. BNP Paribas Financial Markets increased its stake in Textron by 14.7% in the third quarter. BNP Paribas Financial Markets now owns 398,366 shares of the aerospace company's stock worth $35,287,000 after purchasing an additional 50,936 shares during the period. Finally, National Pension Service lifted its position in shares of Textron by 2.6% during the third quarter. National Pension Service now owns 368,481 shares of the aerospace company's stock worth $32,640,000 after purchasing an additional 9,491 shares during the last quarter. 86.03% of the stock is currently owned by hedge funds and other institutional investors.

Textron Stock Down 0.1 %

TXT stock traded down $0.09 during trading on Friday, reaching $72.34. 1,648,802 shares of the company traded hands, compared to its average volume of 1,351,591. The business has a 50 day simple moving average of $76.20 and a 200 day simple moving average of $82.71. Textron Inc. has a 12 month low of $71.67 and a 12 month high of $97.33. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.84 and a current ratio of 1.76. 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 released its quarterly earnings results on Wednesday, January 22nd. The aerospace company reported $1.34 earnings per share for the quarter, beating analysts' consensus estimates of $1.27 by $0.07. The business had revenue of $3.61 billion for the quarter, compared to analysts' expectations of $3.78 billion. Textron had a net margin of 6.01% and a return on equity of 14.92%. The company's revenue was down 7.2% compared to the same quarter last year. During the same period last year, the business earned $1.60 EPS. On average, equities research analysts anticipate that Textron Inc. will post 6.12 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.