New York State Common Retirement Fund increased its position in Textron Inc. (NYSE:TXT) by 1.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 608,592 shares of the aerospace company’s stock after purchasing an additional 9,000 shares during the period. New York State Common Retirement Fund owned approximately 0.23% of Textron worth $32,791,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently modified their holdings of TXT. Neuberger Berman Group LLC lifted its holdings in shares of Textron by 28.4% in the 2nd quarter. Neuberger Berman Group LLC now owns 4,323,775 shares of the aerospace company’s stock worth $203,650,000 after purchasing an additional 957,464 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Textron by 27.3% in the 2nd quarter. Victory Capital Management Inc. now owns 3,727,749 shares of the aerospace company’s stock worth $175,577,000 after purchasing an additional 799,779 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of Textron by 3.8% in the 2nd quarter. BlackRock Inc. now owns 17,799,799 shares of the aerospace company’s stock worth $838,370,000 after purchasing an additional 655,034 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Textron by 1.6% in the 2nd quarter. Vanguard Group Inc. now owns 24,931,208 shares of the aerospace company’s stock worth $1,174,260,000 after purchasing an additional 393,214 shares in the last quarter. Finally, Capital Research Global Investors lifted its holdings in shares of Textron by 2.1% in the 2nd quarter. Capital Research Global Investors now owns 18,615,303 shares of the aerospace company’s stock worth $876,781,000 after purchasing an additional 378,902 shares in the last quarter. Institutional investors own 82.03% of the company’s stock.
A number of equities analysts recently issued reports on TXT shares. Morgan Stanley increased their target price on Textron from $45.00 to $47.00 and gave the stock an “underweight” rating in a report on Thursday, August 17th. ValuEngine upgraded Textron from a “hold” rating to a “buy” rating in a report on Friday, September 8th. Drexel Hamilton upgraded Textron from a “hold” rating to a “buy” rating and set a $58.00 target price on the stock in a report on Monday, September 11th. Zacks Investment Research upgraded Textron from a “hold” rating to a “buy” rating and set a $59.00 target price on the stock in a report on Thursday, September 21st. Finally, Jefferies Group reissued a “buy” rating and issued a $60.00 price target on shares of Textron in a research report on Tuesday, September 26th. Four research analysts have rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $57.82.
Textron Inc. (NYSE:TXT) traded up $0.05 during midday trading on Friday, reaching $54.84. The company had a trading volume of 1,083,010 shares, compared to its average volume of 1,241,356. The stock has a market cap of $14,445.95, a price-to-earnings ratio of 21.85, a P/E/G ratio of 2.51 and a beta of 1.57. Textron Inc. has a twelve month low of $43.66 and a twelve month high of $56.47. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.08 and a quick ratio of 0.96.
Textron (NYSE:TXT) last released its quarterly earnings results on Thursday, October 19th. The aerospace company reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.03. The business had revenue of $3.48 billion during the quarter, compared to analyst estimates of $3.55 billion. Textron had a return on equity of 12.02% and a net margin of 4.48%. Textron’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.61 EPS. research analysts anticipate that Textron Inc. will post 2.47 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, January 1st. Investors of record on Friday, December 15th will be given a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.15%. The ex-dividend date is Thursday, December 14th. Textron’s payout ratio is currently 3.45%.
ILLEGAL ACTIVITY WARNING: “New York State Common Retirement Fund Purchases 9,000 Shares of Textron Inc. (TXT)” was first published by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are viewing this piece on another publication, it was stolen and reposted in violation of U.S. and international copyright and trademark laws. The original version of this piece can be viewed at https://www.dispatchtribunal.com/2017/12/10/new-york-state-common-retirement-fund-purchases-9000-shares-of-textron-inc-txt.html.
Textron Inc is a multi-industry company engaged in aircraft, defense, industrial and finance businesses to provide customers with products and services across the world. The Company operates through five segments: Textron Aviation, Bell, Textron Systems, Industrial and Finance. The Textron Aviation segment is engaged in general aviation.
Want to see what other hedge funds are holding TXT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Textron Inc. (NYSE:TXT).
Receive News & Ratings for Textron Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Textron Inc. and related companies with MarketBeat.com's FREE daily email newsletter.