Texas Permanent School Fund Corp Has $2.68 Million Stock Holdings in Textron Inc. (NYSE:TXT)

Texas Permanent School Fund Corp reduced its position in shares of Textron Inc. (NYSE:TXT) by 22.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 31,241 shares of the aerospace company’s stock after selling 9,278 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Textron were worth $2,682,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in TXT. Principal Securities Inc. bought a new position in shares of Textron in the 4th quarter worth $78,000. Envestnet Portfolio Solutions Inc. grew its holdings in shares of Textron by 11.7% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 3,677 shares of the aerospace company’s stock valued at $296,000 after buying an additional 384 shares during the last quarter. Avantax Advisory Services Inc. bought a new stake in shares of Textron during the fourth quarter worth about $201,000. Janney Montgomery Scott LLC raised its holdings in shares of Textron by 21.2% in the 4th quarter. Janney Montgomery Scott LLC now owns 27,338 shares of the aerospace company’s stock worth $2,199,000 after acquiring an additional 4,789 shares during the last quarter. Finally, Foundations Investment Advisors LLC bought a new position in Textron in the 4th quarter valued at about $220,000. Institutional investors own 86.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on TXT shares. Citigroup boosted their price objective on Textron from $111.00 to $115.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. TD Cowen raised their price objective on Textron from $100.00 to $103.00 and gave the company a “buy” rating in a research note on Friday, July 19th. UBS Group upped their target price on shares of Textron from $84.00 to $87.00 and gave the stock a “sell” rating in a research note on Friday, July 19th. StockNews.com lowered shares of Textron from a “strong-buy” rating to a “buy” rating in a research report on Thursday, September 12th. Finally, Bank of America boosted their price target on shares of Textron from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. One analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $102.50.

Textron Stock Performance

NYSE TXT opened at $88.30 on Tuesday. The company has a market capitalization of $16.84 billion, a PE ratio of 18.87, a price-to-earnings-growth ratio of 1.38 and a beta of 1.23. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.81 and a current ratio of 1.79. Textron Inc. has a 52-week low of $74.13 and a 52-week high of $97.33. The company has a 50-day simple moving average of $88.71 and a 200 day simple moving average of $89.34.

Textron (NYSE:TXT) last released its earnings results on Thursday, July 18th. The aerospace company reported $1.54 earnings per share for the quarter, beating analysts’ consensus estimates of $1.48 by $0.06. The firm had revenue of $3.53 billion during the quarter, compared to the consensus estimate of $3.56 billion. Textron had a net margin of 6.67% and a return on equity of 16.41%. The company’s revenue was up 3.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.46 EPS. On average, research analysts predict that Textron Inc. will post 6.27 EPS for the current year.

Textron Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be given a dividend of $0.02 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.09%. Textron’s dividend payout ratio is presently 1.71%.

Textron 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.