Public Employees Retirement Association of Colorado Has $1.65 Million Stock Position in Textron Inc. (NYSE:TXT)

Public Employees Retirement Association of Colorado lessened its stake in Textron Inc. (NYSE:TXT) by 4.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,241 shares of the aerospace company’s stock after selling 974 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Textron were worth $1,652,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Benjamin F. Edwards & Company Inc. increased its holdings in shares of Textron by 4.4% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 4,116 shares of the aerospace company’s stock valued at $353,000 after purchasing an additional 175 shares in the last quarter. MQS Management LLC bought a new position in Textron in the 2nd quarter valued at $352,000. XTX Topco Ltd acquired a new stake in shares of Textron in the 2nd quarter valued at $1,533,000. Sienna Gestion bought a new stake in shares of Textron during the second quarter worth $4,434,000. Finally, Hsbc Holdings PLC lifted its stake in shares of Textron by 3.9% during the second quarter. Hsbc Holdings PLC now owns 626,323 shares of the aerospace company’s stock valued at $53,830,000 after acquiring an additional 23,404 shares during the period. 86.03% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on TXT. Morgan Stanley cut Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 price objective for the company. in a report on Thursday, August 8th. Bank of America increased their price objective on shares of Textron from $105.00 to $110.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. StockNews.com lowered shares of Textron from a “strong-buy” rating to a “buy” rating in a report on Thursday, September 12th. UBS Group increased their price target on Textron from $84.00 to $87.00 and gave the company a “sell” rating in a research note on Friday, July 19th. Finally, TD Cowen lifted their price objective on Textron from $100.00 to $103.00 and gave the stock a “buy” rating in a research note on Friday, July 19th. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $102.50.

Textron Stock Performance

TXT stock opened at $86.89 on Tuesday. Textron Inc. has a 1-year low of $74.13 and a 1-year high of $97.33. The business’s 50-day moving average price is $88.72 and its two-hundred day moving average price is $89.28. The firm has a market cap of $16.57 billion, a PE ratio of 18.57, a P/E/G ratio of 1.40 and a beta of 1.23. The company has a current ratio of 1.79, a quick ratio of 0.81 and a debt-to-equity ratio of 0.47.

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

Textron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be given a $0.02 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.08 annualized dividend and a yield of 0.09%. Textron’s dividend payout ratio is currently 1.71%.

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.