Textron Inc. (NYSE:TXT) Stock Holdings Lessened by Arizona State Retirement System

Arizona State Retirement System reduced its holdings in Textron Inc. (NYSE:TXT) by 0.4% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 54,421 shares of the aerospace company’s stock after selling 215 shares during the period. Arizona State Retirement System’s holdings in Textron were worth $4,163,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Merit Financial Group LLC lifted its position in shares of Textron by 5.9% in the 4th quarter. Merit Financial Group LLC now owns 4,784 shares of the aerospace company’s stock worth $366,000 after buying an additional 265 shares during the last quarter. Empowered Funds LLC lifted its position in shares of Textron by 28.6% in the 4th quarter. Empowered Funds LLC now owns 20,132 shares of the aerospace company’s stock worth $1,540,000 after buying an additional 4,480 shares during the last quarter. Franklin Resources Inc. lifted its position in shares of Textron by 10.3% in the 3rd quarter. Franklin Resources Inc. now owns 164,029 shares of the aerospace company’s stock worth $14,505,000 after buying an additional 15,294 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in Textron by 44.6% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,390 shares of the aerospace company’s stock valued at $1,343,000 after purchasing an additional 5,367 shares during the last quarter. Finally, Todd Asset Management LLC lifted its position in Textron by 1.8% in the 4th quarter. Todd Asset Management LLC now owns 470,292 shares of the aerospace company’s stock valued at $35,973,000 after purchasing an additional 8,198 shares during the last quarter. 86.03% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on TXT. Susquehanna cut their price objective on shares of Textron from $100.00 to $90.00 and set a “positive” rating on the stock in a research report on Wednesday, January 8th. JPMorgan Chase & Co. cut their price objective on shares of Textron from $90.00 to $88.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Vertical Research upgraded shares of Textron from a “hold” rating to a “buy” rating and set a $91.00 price objective on the stock in a research report on Monday, January 6th. Barclays cut their price objective on shares of Textron from $104.00 to $95.00 and set an “overweight” rating on the stock in a research report on Monday, December 23rd. Finally, Morgan Stanley cut their price objective on shares of Textron from $86.00 to $82.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $93.45.

Textron Stock Up 2.9 %

TXT stock opened at $75.50 on Friday. Textron Inc. has a 52 week low of $70.14 and a 52 week high of $97.33. The company has a market capitalization of $13.71 billion, a price-to-earnings ratio of 17.52, a price-to-earnings-growth ratio of 1.18 and a beta of 1.27. The firm’s 50-day moving average is $75.33 and its two-hundred day moving average is $81.78. The company has a current ratio of 1.76, a quick ratio of 0.84 and a debt-to-equity ratio of 0.45.

Textron (NYSE:TXT) last announced its quarterly earnings data on Wednesday, January 22nd. The aerospace company reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.07. The company had revenue of $3.61 billion for the quarter, compared to analysts’ expectations 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 in the previous year, the company posted $1.60 EPS. On average, analysts forecast that Textron Inc. will post 6.12 earnings per share for the current fiscal year.

Textron Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a $0.02 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.08 annualized dividend and a dividend yield of 0.11%. Textron’s dividend payout ratio is currently 1.86%.

Insider Transactions at Textron

In other news, VP Mark S. Bamford sold 5,451 shares of Textron stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $72.68, for a total value of $396,178.68. Following the transaction, the vice president now owns 18,223 shares of the company’s stock, valued at $1,324,447.64. The trade was a 23.03 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 1.70% of the company’s stock.

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.