Louisiana State Employees Retirement System Sells 500 Shares of Textron Inc. (NYSE:TXT)

Louisiana State Employees Retirement System lowered its holdings in shares of Textron Inc. (NYSE:TXT) by 4.8% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 10,000 shares of the aerospace company’s stock after selling 500 shares during the period. Louisiana State Employees Retirement System’s holdings in Textron were worth $765,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. Robeco Institutional Asset Management B.V. raised its stake in shares of Textron by 3.3% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 511,770 shares of the aerospace company’s stock valued at $39,145,000 after acquiring an additional 16,359 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Textron by 0.9% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 475,420 shares of the aerospace company’s stock valued at $36,365,000 after acquiring an additional 4,381 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of Textron by 18.0% during the third quarter. Wellington Management Group LLP now owns 401,475 shares of the aerospace company’s stock valued at $35,563,000 after acquiring an additional 61,248 shares during the last quarter. BNP Paribas Financial Markets raised its stake in shares of Textron by 14.7% during the third quarter. BNP Paribas Financial Markets now owns 398,366 shares of the aerospace company’s stock valued at $35,287,000 after acquiring an additional 50,936 shares during the last quarter. Finally, National Pension Service raised its stake in shares of Textron by 2.6% during the third quarter. National Pension Service now owns 368,481 shares of the aerospace company’s stock valued at $32,640,000 after acquiring an additional 9,491 shares during the last quarter. Institutional investors own 86.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on TXT shares. Bank of America downgraded shares of 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. Robert W. Baird lowered their target price on shares of Textron from $100.00 to $92.00 and set an “outperform” rating for the company in a research note on Thursday, January 23rd. UBS Group lowered their target price on shares of Textron from $87.00 to $79.00 and set a “sell” rating for the company in a research note on Friday, October 25th. Morgan Stanley lowered their target price on shares of Textron from $86.00 to $82.00 and set an “equal weight” rating for the company in a research note on Thursday, January 23rd. Finally, Barclays lowered their target price on shares of Textron from $104.00 to $95.00 and set an “overweight” rating for the company in a research note on Monday, December 23rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $93.45.

Textron Stock Up 0.1 %

Shares of NYSE TXT opened at $72.38 on Wednesday. The stock has a market capitalization of $13.22 billion, a P/E ratio of 16.79, a P/E/G ratio of 1.23 and a beta of 1.27. The company has a 50-day moving average price of $76.74 and a 200-day moving average price of $82.94. Textron Inc. has a 1 year low of $71.94 and a 1 year high of $97.33. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.83 and a quick ratio of 0.82.

Textron (NYSE:TXT) last issued its quarterly earnings data on Wednesday, January 22nd. The aerospace company reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $0.07. The firm 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 revenue was down 7.2% on a year-over-year basis. During the same period last year, the company earned $1.60 earnings per share. On average, equities research analysts forecast that Textron Inc. will post 6.1 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.