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

Kentucky Retirement Systems reduced its holdings in Textron Inc. (NYSE:TXT) by 3.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,370 shares of the aerospace company’s stock after selling 515 shares during the quarter. Kentucky Retirement Systems’ holdings in Textron were worth $1,234,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in TXT. Innealta Capital LLC acquired a new position in Textron in the second quarter valued at $25,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Textron during the second quarter valued at about $30,000. Oakworth Capital Inc. purchased a new stake in Textron during the second quarter valued at about $31,000. Family Firm Inc. purchased a new stake in Textron during the second quarter valued at about $40,000. Finally, Jones Financial Companies Lllp grew its position in Textron by 200.0% during the fourth quarter. Jones Financial Companies Lllp now owns 507 shares of the aerospace company’s stock valued at $41,000 after acquiring an additional 338 shares during the period. 86.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Textron Trading Down 1.2 %

Shares of TXT opened at $87.91 on Friday. The company has a market capitalization of $16.76 billion, a P/E ratio of 18.78, a P/E/G ratio of 1.40 and a beta of 1.23. Textron Inc. has a one year low of $74.13 and a one year high of $97.33. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.81 and a current ratio of 1.79. The stock has a 50-day moving average price of $88.80 and a 200 day moving average price of $89.32.

Textron (NYSE:TXT) last issued its quarterly earnings results on Thursday, July 18th. The aerospace company reported $1.54 EPS 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 return on equity of 16.41% and a net margin of 6.67%. Textron’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.46 earnings per share. Sell-side analysts forecast that Textron Inc. will post 6.27 EPS for the current fiscal year.

Textron Announces Dividend

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