Commonwealth of Pennsylvania Public School Empls Retrmt SYS Has $3.02 Million Holdings in Textron Inc. (NYSE:TXT)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS trimmed its position in Textron Inc. (NYSE:TXT) by 3.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 39,445 shares of the aerospace company’s stock after selling 1,342 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Textron were worth $3,017,000 at the end of the most recent quarter.

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

Textron Stock Up 1.6 %

Textron stock opened at $74.23 on Tuesday. The company’s 50-day moving average price is $74.83 and its two-hundred day moving average price is $80.51. The company has a quick ratio of 0.84, a current ratio of 1.76 and a debt-to-equity ratio of 0.45. The stock has a market cap of $13.48 billion, a P/E ratio of 17.22, a P/E/G ratio of 1.18 and a beta of 1.27. Textron Inc. has a twelve month low of $70.14 and a twelve month high of $97.34.

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

Textron Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Robert W. Baird lowered their target price on Textron from $100.00 to $92.00 and set an “outperform” rating on the stock in a research report on Thursday, January 23rd. Bank of America cut Textron from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $110.00 to $85.00 in a research note on Friday, January 24th. TD Cowen raised shares of Textron to a “hold” rating in a research note on Monday, February 24th. Vertical Research raised shares of Textron from a “hold” rating to a “buy” rating and set a $91.00 price target on the stock in a research report on Monday, January 6th. Finally, Morgan Stanley decreased their price objective on shares of Textron from $86.00 to $82.00 and set an “equal weight” rating for the company in a research report on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Textron presently has an average rating of “Moderate Buy” and an average target price of $93.45.

Insider Activity at Textron

In other Textron news, VP Mark S. Bamford sold 5,451 shares of the business’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $72.68, for a total value of $396,178.68. Following the completion of the sale, 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.70% of the stock is currently owned by corporate insiders.

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.