New Jersey Better Educational Savings Trust Acquires Shares of 2,510 Textron Inc. (NYSE:TXT)

New Jersey Better Educational Savings Trust acquired a new stake in shares of Textron Inc. (NYSE:TXT) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 2,510 shares of the aerospace company’s stock, valued at approximately $202,000.

Other institutional investors also recently added to or reduced their stakes in the company. Metis Global Partners LLC boosted its holdings in Textron by 12.8% during the third quarter. Metis Global Partners LLC now owns 10,189 shares of the aerospace company’s stock valued at $796,000 after purchasing an additional 1,158 shares in the last quarter. LSV Asset Management boosted its holdings in shares of Textron by 7.6% in the 3rd quarter. LSV Asset Management now owns 3,271,771 shares of the aerospace company’s stock worth $255,656,000 after acquiring an additional 230,560 shares in the last quarter. Deutsche Bank AG boosted its holdings in shares of Textron by 36.9% in the 3rd quarter. Deutsche Bank AG now owns 542,193 shares of the aerospace company’s stock worth $42,367,000 after acquiring an additional 146,055 shares in the last quarter. AustralianSuper Pty Ltd boosted its holdings in shares of Textron by 13.2% in the 4th quarter. AustralianSuper Pty Ltd now owns 98,773 shares of the aerospace company’s stock worth $7,943,000 after acquiring an additional 11,510 shares in the last quarter. Finally, SG Americas Securities LLC boosted its holdings in shares of Textron by 269.1% in the 4th quarter. SG Americas Securities LLC now owns 20,896 shares of the aerospace company’s stock worth $1,680,000 after acquiring an additional 15,235 shares in the last quarter. 86.03% of the stock is owned by institutional investors and hedge funds.

Textron Trading Down 9.7 %

Shares of Textron stock traded down $9.09 on Thursday, hitting $84.92. 5,137,980 shares of the company’s stock traded hands, compared to its average volume of 1,203,056. The firm’s 50-day moving average price is $92.09 and its two-hundred day moving average price is $83.81. The stock has a market capitalization of $16.34 billion, a PE ratio of 18.58, a price-to-earnings-growth ratio of 1.50 and a beta of 1.30. Textron Inc. has a one year low of $61.27 and a one year high of $97.33. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.92 and a quick ratio of 1.03.

Textron (NYSE:TXT) last issued its earnings results on Wednesday, January 24th. The aerospace company reported $1.60 EPS for the quarter, beating the consensus estimate of $1.53 by $0.07. The company had revenue of $3.89 billion during the quarter, compared to analysts’ expectations of $3.97 billion. Textron had a net margin of 6.73% and a return on equity of 16.05%. The business’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.07 EPS. On average, research analysts expect that Textron Inc. will post 6.27 EPS for the current fiscal year.

Textron Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be given a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.09%. The ex-dividend date of this dividend is Friday, June 14th. Textron’s dividend payout ratio is currently 1.75%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on TXT shares. Citigroup boosted their target price on Textron from $104.00 to $111.00 and gave the stock a “buy” rating in a report on Thursday, April 4th. StockNews.com upgraded shares of Textron from a “buy” rating to a “strong-buy” rating in a research report on Thursday, January 25th. Bank of America upgraded shares of Textron from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $85.00 to $105.00 in a research report on Friday, March 8th. UBS Group boosted their price objective on shares of Textron from $77.00 to $81.00 and gave the stock a “sell” rating in a research report on Friday, January 26th. Finally, The Goldman Sachs Group boosted their price objective on shares of Textron from $103.00 to $120.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. One analyst has rated the stock with a sell rating, two have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $93.63.

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.