Textron Inc. (NYSE:TXT) Shares Sold by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio trimmed its position in Textron Inc. (NYSE:TXT - Free Report) by 33.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 73,224 shares of the aerospace company's stock after selling 37,488 shares during the quarter. Public Employees Retirement System of Ohio's holdings in Textron were worth $6,486,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Innealta Capital LLC purchased a new stake in shares of Textron during the 2nd quarter worth approximately $25,000. True Wealth Design LLC purchased a new stake in Textron in the third quarter valued at $26,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Textron in the second quarter valued at $30,000. Oakworth Capital Inc. purchased a new position in shares of Textron during the second quarter worth about $31,000. Finally, Family Firm Inc. purchased a new position in shares of Textron during the second quarter worth about $40,000. Institutional investors and hedge funds own 86.03% of the company's stock.

Textron Stock Performance

Shares of TXT stock traded down $0.15 during mid-day trading on Friday, hitting $80.92. The stock had a trading volume of 874,333 shares, compared to its average volume of 1,080,029. The firm has a market cap of $15.01 billion, a PE ratio of 17.78, a PEG ratio of 1.48 and a beta of 1.25. The company's 50-day simple moving average is $84.94 and its 200-day simple moving average is $86.74. 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 Inc. has a fifty-two week low of $76.98 and a fifty-two week high of $97.33.

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

Textron Announces Dividend

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

Analysts Set New Price Targets

A number of brokerages recently issued reports on TXT. JPMorgan Chase & Co. decreased their target price on Textron from $100.00 to $95.00 and set a "neutral" rating for the company in a research report on Monday, October 14th. TD Cowen downgraded Textron from a "buy" rating to a "hold" rating and decreased their price objective for the company from $103.00 to $95.00 in a report on Wednesday, September 25th. UBS Group cut their target price on shares of Textron from $87.00 to $79.00 and set a "sell" rating on the stock in a report on Friday, October 25th. Robert W. Baird decreased their price target on shares of Textron from $109.00 to $100.00 and set an "outperform" rating for the company in a research note on Friday, October 25th. Finally, StockNews.com lowered shares of Textron from a "strong-buy" rating to a "buy" rating in a research note on Thursday, September 12th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $101.56.

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.