Textron Inc. (NYSE:TXT) Shares Sold by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund lowered its position in shares of Textron Inc. (NYSE:TXT) by 26.3% during the fourth quarter, Holdings Channel reports. The firm owned 87,992 shares of the aerospace company’s stock after selling 31,382 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Textron were worth $6,731,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. True Wealth Design LLC acquired a new stake in shares of Textron in the third quarter valued at approximately $26,000. Capital Performance Advisors LLP acquired a new stake in Textron during the 3rd quarter worth $42,000. Eastern Bank purchased a new position in Textron during the 4th quarter worth $42,000. Truvestments Capital LLC acquired a new position in Textron in the third quarter valued at $43,000. Finally, Venturi Wealth Management LLC raised its holdings in shares of Textron by 69.5% in the third quarter. Venturi Wealth Management LLC now owns 566 shares of the aerospace company’s stock valued at $50,000 after buying an additional 232 shares during the last quarter. Institutional investors and hedge funds own 86.03% of the company’s stock.

Insider Transactions at Textron

In other news, VP Mark S. Bamford sold 5,451 shares of the firm’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $72.68, for a total value of $396,178.68. Following the completion of the transaction, the vice president now owns 18,223 shares in the company, valued at $1,324,447.64. This trade represents a 23.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 1.70% of the company’s stock.

Textron Price Performance

Textron stock opened at $72.99 on Thursday. The company has a market cap of $13.33 billion, a P/E ratio of 16.94, a price-to-earnings-growth ratio of 1.18 and a beta of 1.27. Textron Inc. has a one year low of $71.67 and a one year high of $97.33. The business has a fifty day moving average of $75.83 and a two-hundred day moving average of $82.45. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.84 and a current ratio of 1.76.

Textron (NYSE:TXT) last announced its quarterly earnings results on Wednesday, January 22nd. The aerospace company reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $0.07. The business had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.78 billion. Textron had a net margin of 6.01% and a return on equity of 14.92%. The business’s revenue was down 7.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.60 EPS. As a group, analysts predict that Textron Inc. will post 6.12 earnings per share for the current fiscal year.

Textron Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.11%. Textron’s payout ratio is 1.86%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. JPMorgan Chase & Co. lowered their price target on Textron from $90.00 to $88.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Barclays lowered their target price on Textron from $104.00 to $95.00 and set an “overweight” rating on the stock in a research note on Monday, December 23rd. Citigroup cut their price target on Textron from $118.00 to $111.00 and set a “buy” rating for the company in a research note on Tuesday, January 21st. TD Cowen raised Textron to a “hold” rating in a report on Monday. Finally, Robert W. Baird dropped their price objective on shares of Textron from $100.00 to $92.00 and set an “outperform” rating on the stock in a research note on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $93.45.

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.