Textron Inc. (NYSE:TXT) Shares Sold by Kentucky Retirement Systems

Kentucky Retirement Systems lowered its position in shares of Textron Inc. (NYSE:TXT) by 3.5% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,370 shares of the aerospace company’s stock after selling 515 shares during the quarter. Kentucky Retirement Systems’ holdings in Textron were worth $1,234,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Envestnet Portfolio Solutions Inc. raised its stake in Textron by 263.6% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 13,369 shares of the aerospace company’s stock valued at $1,283,000 after buying an additional 9,692 shares in the last quarter. SageView Advisory Group LLC acquired a new stake in shares of Textron during the 4th quarter worth approximately $922,000. Studio Investment Management LLC acquired a new stake in shares of Textron during the 4th quarter worth approximately $1,223,000. Portfolio Design Labs LLC acquired a new stake in shares of Textron during the 4th quarter worth approximately $3,140,000. Finally, SG Americas Securities LLC raised its position in shares of Textron by 461.1% during the 1st quarter. SG Americas Securities LLC now owns 117,257 shares of the aerospace company’s stock worth $11,248,000 after purchasing an additional 96,361 shares during the period. Institutional investors and hedge funds own 86.03% of the company’s stock.

Wall Street Analyst Weigh In

TXT has been the topic of a number of research reports. StockNews.com cut Textron from a “strong-buy” rating to a “buy” rating in a research report on Thursday, September 12th. UBS Group increased their price target on Textron from $84.00 to $87.00 and gave the stock a “sell” rating in a research report on Friday, July 19th. Citigroup increased their price target on Textron from $111.00 to $115.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Bank of America raised their target price on Textron from $105.00 to $110.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Finally, Morgan Stanley cut Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 target price on the stock. in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $102.50.

Textron Stock Performance

Shares of NYSE TXT opened at $87.91 on Friday. The stock has a fifty day moving average price of $88.80 and a two-hundred day moving average price of $89.32. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.81 and a current ratio of 1.79. The firm has a market cap of $16.76 billion, a P/E ratio of 18.78, a PEG ratio of 1.40 and a beta of 1.23. Textron Inc. has a 1 year low of $74.13 and a 1 year high of $97.33.

Textron (NYSE:TXT) last issued its quarterly earnings results on Thursday, July 18th. The aerospace company reported $1.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.48 by $0.06. The firm had revenue of $3.53 billion during the quarter, compared to analyst estimates of $3.56 billion. Textron had a return on equity of 16.41% and a net margin of 6.67%. The firm’s quarterly revenue was up 3.0% on a year-over-year basis. During the same period last year, the company posted $1.46 EPS. Research analysts forecast that Textron Inc. will post 6.27 EPS for the current fiscal year.

Textron Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be paid a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.09%. The ex-dividend date is Friday, September 13th. Textron’s dividend payout ratio is presently 1.71%.

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.