Textron Inc. $TXT Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D reduced its stake in Textron Inc. (NYSE:TXT) by 1.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 56,588 shares of the aerospace company’s stock after selling 854 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Textron were worth $4,543,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. lifted its holdings in Textron by 31.0% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 38,424 shares of the aerospace company’s stock valued at $2,776,000 after purchasing an additional 9,082 shares in the last quarter. Golden State Wealth Management LLC raised its position in shares of Textron by 134.2% in the first quarter. Golden State Wealth Management LLC now owns 1,925 shares of the aerospace company’s stock valued at $139,000 after buying an additional 1,103 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Textron by 16.1% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 20,193 shares of the aerospace company’s stock valued at $1,474,000 after buying an additional 2,803 shares during the period. KBC Group NV boosted its position in Textron by 86.4% during the first quarter. KBC Group NV now owns 24,787 shares of the aerospace company’s stock worth $1,791,000 after acquiring an additional 11,489 shares during the last quarter. Finally, WASHINGTON TRUST Co grew its stake in Textron by 8.2% in the 1st quarter. WASHINGTON TRUST Co now owns 5,372 shares of the aerospace company’s stock worth $388,000 after acquiring an additional 409 shares during the period. Hedge funds and other institutional investors own 86.03% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on TXT shares. Wall Street Zen raised Textron from a “buy” rating to a “strong-buy” rating in a research note on Monday. The Goldman Sachs Group reissued a “neutral” rating and issued a $85.00 price target (down from $95.00) on shares of Textron in a research note on Tuesday, July 1st. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $90.00 price objective on shares of Textron in a research note on Monday. UBS Group cut their price objective on shares of Textron from $92.00 to $89.00 and set a “neutral” rating on the stock in a report on Friday. Finally, JPMorgan Chase & Co. lowered their target price on shares of Textron from $90.00 to $88.00 and set a “neutral” rating for the company in a report on Monday. Six equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, Textron has an average rating of “Hold” and an average price target of $92.15.

Textron Trading Down 0.8%

NYSE:TXT opened at $80.53 on Tuesday. The business’s 50-day moving average is $82.35 and its two-hundred day moving average is $78.32. The firm has a market capitalization of $14.19 billion, a PE ratio of 17.70, a price-to-earnings-growth ratio of 1.32 and a beta of 1.13. Textron Inc. has a 12 month low of $57.70 and a 12 month high of $89.28. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.84 and a quick ratio of 0.86.

Textron (NYSE:TXT) last posted its earnings results on Thursday, October 23rd. The aerospace company reported $1.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.47 by $0.08. The business had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.70 billion. Textron had a return on equity of 14.16% and a net margin of 5.81%.The company’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.40 earnings per share. Textron has set its FY 2025 guidance at 6.000-6.200 EPS. Research analysts predict that Textron Inc. will post 6.12 earnings per share for the current fiscal year.

Textron Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 1st. Stockholders of record on Friday, December 12th will be paid a $0.02 dividend. The ex-dividend date is Friday, December 12th. This represents a $0.08 annualized dividend and a dividend yield of 0.1%. Textron’s dividend payout ratio is 1.76%.

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.