Textron Inc. (TXT) Position Trimmed by State Treasurer State of Michigan

State Treasurer State of Michigan decreased its position in shares of Textron Inc. (NYSE:TXT) by 6.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 69,537 shares of the aerospace company’s stock after selling 4,500 shares during the quarter. State Treasurer State of Michigan’s holdings in Textron were worth $3,198,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TXT. State of New Jersey Common Pension Fund D lifted its position in Textron by 191.7% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 945,000 shares of the aerospace company’s stock worth $43,461,000 after purchasing an additional 621,000 shares during the period. Janus Henderson Group PLC raised its stake in Textron by 80.9% during the third quarter. Janus Henderson Group PLC now owns 1,013,388 shares of the aerospace company’s stock worth $72,428,000 after acquiring an additional 453,259 shares in the last quarter. First Trust Advisors LP acquired a new position in Textron during the third quarter worth about $26,015,000. Primecap Management Co. CA raised its stake in Textron by 7.6% during the third quarter. Primecap Management Co. CA now owns 4,985,260 shares of the aerospace company’s stock worth $356,297,000 after acquiring an additional 353,242 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in Textron by 117.3% during the third quarter. JPMorgan Chase & Co. now owns 620,660 shares of the aerospace company’s stock worth $44,357,000 after acquiring an additional 335,095 shares in the last quarter. 84.88% of the stock is owned by institutional investors and hedge funds.

Shares of Textron stock traded up $0.05 on Monday, hitting $52.63. The stock had a trading volume of 22,822 shares, compared to its average volume of 2,090,299. Textron Inc. has a twelve month low of $43.27 and a twelve month high of $72.87. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.89 and a quick ratio of 0.80. The company has a market capitalization of $12.77 billion, a P/E ratio of 15.89, a P/E/G ratio of 1.15 and a beta of 1.71.

Textron (NYSE:TXT) last released its quarterly earnings data on Thursday, January 24th. The aerospace company reported $1.15 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.98 by $0.17. Textron had a return on equity of 15.51% and a net margin of 8.75%. The company had revenue of $3.75 billion during the quarter, compared to the consensus estimate of $3.99 billion. During the same quarter in the prior year, the firm posted $0.74 earnings per share. The firm’s revenue was down 6.6% compared to the same quarter last year. Equities analysts anticipate that Textron Inc. will post 3.65 EPS for the current year.

Several brokerages have commented on TXT. Susquehanna Bancshares began coverage on Textron in a research note on Thursday, January 10th. They set a “neutral” rating and a $52.00 target price for the company. Zacks Investment Research downgraded Textron from a “buy” rating to a “hold” rating in a research note on Monday, February 4th. Jefferies Financial Group set a $59.00 target price on Textron and gave the stock a “buy” rating in a research note on Tuesday, January 8th. TheStreet downgraded Textron from a “b” rating to a “c+” rating in a research note on Friday, January 4th. Finally, ValuEngine downgraded Textron from a “buy” rating to a “hold” rating in a research note on Thursday, October 18th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $68.25.

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Textron Profile

Textron Inc operates in the aircraft, defense, industrial, and finance businesses worldwide. The company's Textron Aviation segment manufactures and sells business jets, turboprop and piston engine aircraft, and military trainer and defense aircraft; and commercial parts, as well as provides maintenance, inspection, and repair services.

Further Reading: How to Calculate Compound Annual Growth Rate (CAGR)

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Institutional Ownership by Quarter for Textron (NYSE:TXT)

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