Textron Inc. (NYSE:TXT) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama trimmed its stake in shares of Textron Inc. (NYSE:TXT) by 3.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 43,197 shares of the aerospace company’s stock after selling 1,589 shares during the quarter. Retirement Systems of Alabama’s holdings in Textron were worth $3,474,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. CVA Family Office LLC bought a new stake in Textron in the fourth quarter valued at $29,000. Trust Co. of Vermont acquired a new position in Textron during the 3rd quarter valued at about $37,000. Provence Wealth Management Group acquired a new position in Textron during the 3rd quarter valued at about $39,000. Morton Brown Family Wealth LLC acquired a new stake in shares of Textron in the fourth quarter valued at approximately $40,000. Finally, Quent Capital LLC raised its holdings in shares of Textron by 29.2% during the fourth quarter. Quent Capital LLC now owns 633 shares of the aerospace company’s stock valued at $51,000 after buying an additional 143 shares during the last quarter. Institutional investors own 86.03% of the company’s stock.

Textron Stock Up 0.7 %

TXT stock opened at $87.51 on Wednesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.81 and a quick ratio of 0.84. The firm has a market cap of $16.69 billion, a PE ratio of 18.70, a P/E/G ratio of 1.35 and a beta of 1.32. Textron Inc. has a 12 month low of $61.27 and a 12 month high of $97.33. The firm has a 50 day simple moving average of $92.09 and a 200 day simple moving average of $84.30.

Textron (NYSE:TXT) last announced its earnings results on Thursday, April 25th. The aerospace company reported $1.20 EPS for the quarter, missing the consensus estimate of $1.28 by ($0.08). Textron had a net margin of 6.75% and a return on equity of 16.30%. The company had revenue of $3.14 billion for the quarter, compared to analysts’ expectations of $3.29 billion. During the same period in the prior year, the company earned $1.05 earnings per share. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. Equities research analysts forecast that Textron Inc. will post 6.27 earnings per share for the current fiscal year.

Textron Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be issued a $0.02 dividend. The ex-dividend date is Friday, June 14th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.09%. Textron’s payout ratio is currently 1.71%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on TXT. Citigroup increased their price objective on Textron from $104.00 to $111.00 and gave the stock a “buy” rating in a report on Thursday, April 4th. StockNews.com lowered Textron from a “strong-buy” rating to a “buy” rating in a report on Friday, April 26th. UBS Group upped their price objective on shares of Textron from $77.00 to $81.00 and gave the stock a “sell” rating in a report on Friday, January 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. Finally, Bank of America raised shares of Textron from a “neutral” rating to a “buy” rating and upped their price target for the stock from $85.00 to $105.00 in a research note on Friday, March 8th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $95.63.

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.