Kentucky Retirement Systems Has $985,000 Holdings in Textron Inc. (NYSE:TXT)

Kentucky Retirement Systems cut its holdings in shares of Textron Inc. (NYSE:TXT) by 1.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,875 shares of the aerospace company’s stock after selling 178 shares during the period. Kentucky Retirement Systems’ holdings in Textron were worth $985,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Merit Financial Group LLC increased its stake 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 valued at $366,000 after acquiring an additional 265 shares during the last quarter. Empowered Funds LLC increased its stake 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 valued at $1,540,000 after acquiring an additional 4,480 shares during the last quarter. Franklin Resources Inc. increased its stake 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 valued at $14,505,000 after acquiring an additional 15,294 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of 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 acquiring an additional 5,367 shares during the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund increased its stake in shares of Textron by 79.5% in the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 9,956 shares of the aerospace company’s stock valued at $762,000 after acquiring an additional 4,409 shares during the last quarter. 86.03% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

TXT has been the subject of a number of research reports. Morgan Stanley lowered their target price on Textron from $86.00 to $82.00 and set an “equal weight” rating for the company in a research note on Thursday, January 23rd. Barclays lowered their target price on Textron from $104.00 to $95.00 and set an “overweight” rating for the company in a research note on Monday, December 23rd. Citigroup lowered their target price on Textron from $118.00 to $111.00 and set a “buy” rating for the company in a research note on Tuesday, January 21st. Bank of America cut Textron from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $110.00 to $85.00 in a research note on Friday, January 24th. Finally, JPMorgan Chase & Co. lowered their target price on Textron from $90.00 to $88.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $93.45.

Textron Price Performance

Shares of TXT opened at $72.56 on Tuesday. The stock has a market capitalization of $13.25 billion, a P/E ratio of 16.84, a P/E/G ratio of 1.18 and a beta of 1.27. Textron Inc. has a twelve month low of $71.67 and a twelve month high of $97.33. The company has a 50 day moving average of $76.03 and a 200-day moving average of $82.60. The company has a quick ratio of 0.84, a current ratio of 1.76 and a debt-to-equity ratio of 0.45.

Textron (NYSE:TXT) last issued its quarterly earnings results on Wednesday, January 22nd. The aerospace company reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.07. The company had revenue of $3.61 billion during 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 quarterly revenue was down 7.2% on a year-over-year basis. During the same period last year, the business earned $1.60 EPS. As a group, equities research analysts forecast that Textron Inc. will post 6.12 EPS for the current fiscal year.

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.