Textron Inc. (NYSE:TXT) Shares Sold by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado lowered its position in shares of Textron Inc. (NYSE:TXT) by 3.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 20,215 shares of the aerospace company’s stock after selling 826 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Textron were worth $1,939,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Lindbrook Capital LLC raised its stake in Textron by 18.6% during the fourth quarter. Lindbrook Capital LLC now owns 777 shares of the aerospace company’s stock worth $62,000 after purchasing an additional 122 shares during the period. True Vision MN LLC raised its stake in Textron by 2.5% during the first quarter. True Vision MN LLC now owns 5,352 shares of the aerospace company’s stock worth $513,000 after purchasing an additional 133 shares during the period. Allworth Financial LP raised its stake in Textron by 12.0% during the fourth quarter. Allworth Financial LP now owns 1,283 shares of the aerospace company’s stock worth $103,000 after purchasing an additional 137 shares during the period. Quent Capital LLC raised its stake in Textron by 29.2% during the fourth quarter. Quent Capital LLC now owns 633 shares of the aerospace company’s stock worth $51,000 after purchasing an additional 143 shares during the period. Finally, Czech National Bank raised its stake in Textron by 0.5% during the first quarter. Czech National Bank now owns 34,487 shares of the aerospace company’s stock worth $3,308,000 after purchasing an additional 157 shares during the period. Institutional investors and hedge funds own 86.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Susquehanna cut their price target on shares of Textron from $110.00 to $105.00 and set a “positive” rating on the stock in a research note on Friday, April 26th. The Goldman Sachs Group raised their target price on shares of Textron from $103.00 to $120.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. StockNews.com downgraded shares of Textron from a “strong-buy” rating to a “buy” rating in a research note on Friday, April 26th. Citigroup raised their target price on shares of Textron from $111.00 to $115.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Finally, Bank of America raised their target price on shares of Textron from $105.00 to $110.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, Textron has a consensus rating of “Moderate Buy” and a consensus target price of $101.63.

Textron Stock Performance

Textron stock opened at $91.51 on Tuesday. Textron Inc. has a 12-month low of $73.78 and a 12-month high of $97.33. The company has a market capitalization of $17.45 billion, a price-to-earnings ratio of 19.55, a price-to-earnings-growth ratio of 1.46 and a beta of 1.25. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.64 and a quick ratio of 0.66. The firm’s fifty day moving average price is $87.74 and its 200 day moving average price is $88.50.

Textron (NYSE:TXT) last released its quarterly earnings results on Thursday, July 18th. The aerospace company reported $1.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.48 by $0.06. Textron had a net margin of 6.67% and a return on equity of 16.41%. The firm had revenue of $3.53 billion for the quarter, compared to the consensus estimate of $3.56 billion. During the same quarter in the previous year, the firm posted $1.46 EPS. The firm’s quarterly revenue was up 3.0% on a year-over-year basis. On average, research analysts forecast that Textron Inc. will post 6.26 EPS for the current fiscal year.

Textron Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors 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 yield of 0.09%. Textron’s dividend payout ratio (DPR) is 1.71%.

Insider Buying and Selling

In other Textron news, Director Kathleen M. Bader sold 11,870 shares of the firm’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $87.91, for a total transaction of $1,043,491.70. Following the completion of the transaction, the director now directly owns 3,756 shares of the company’s stock, valued at approximately $330,189.96. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.70% of the stock is currently owned by 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.